Thinking about how to lower your Sarasota property taxes this year? If you live in your home as your primary residence, Florida’s homestead exemption and the Save Our Homes cap can offer meaningful savings and long-term protection. In this guide, you will learn who qualifies, how much you can save, when and how to apply in Sarasota County, and how to avoid common mistakes. Let’s dive in.
What the homestead exemption does
Florida’s homestead exemption reduces the taxable assessed value of your primary residence, which can lower your annual property tax bill.
How the $50,000 breaks down
- The first $25,000 applies to all taxing authorities, including school district taxes.
- The additional up to $25,000 applies only to the portion of assessed value between $50,000 and $75,000 and does not apply to school district taxes.
- In practice, you can remove up to $50,000 from taxable value, but the second $25,000 only reduces non-school taxes and only if your assessed value is above $50,000 before exemptions.
Save Our Homes (SOH) cap
Save Our Homes limits the annual increase in a qualifying homestead’s assessed value to the lesser of 3% or the percentage change in the Consumer Price Index. Over time, this can keep your assessed value lower than market value increases, which helps long-term owners.
Portability basics
If you move from one Florida homestead to another, you may transfer your accumulated SOH benefit to the new homestead. This is called portability. There are application steps, deadlines, and caps, so plan ahead when you are buying and selling within Florida.
Who qualifies in Sarasota County
You must both own and occupy the home as your permanent residence on January 1 of the tax year to receive the exemption for that year. Only one property per person can be claimed, and married couples may claim only one homestead between them.
- A Sarasota condo or co-op unit can qualify if it is your permanent residence.
- Lawful permanent residents of the United States who make the property their permanent home can qualify. Be prepared to show the documents the property appraiser requires.
- Renters and investment properties do not qualify.
When and how to apply in Sarasota
Initial applications are handled by the Sarasota County Property Appraiser’s Office. The statewide filing deadline to receive the exemption for the current tax year is generally March 1. Always confirm the current-year date with the Sarasota County Property Appraiser.
You can usually apply in person, by mail, or online through the property appraiser’s system. Sarasota County’s website provides the specific forms and instructions for local parcels.
What to bring for first-time applicants
- Proof of ownership, such as a deed or recorded instrument.
- Proof of Florida residency and that the property is your permanent address as of January 1: a Florida driver’s license or Florida ID with the homestead address, Florida vehicle registration, Florida voter registration, or other documents the appraiser accepts.
- Social Security numbers are typically requested for verification.
Tip: Make sure your Florida ID, voter registration, and vehicle registration all show your homestead address by January 1 to avoid delays or denials.
Renewals, TRIM notices, and appeals
Most homestead exemptions renew automatically each year. The property appraiser may send a renewal card and can request updated documentation during routine audits.
In late summer, usually August, the Property Appraiser mails TRIM notices that list proposed assessed value, exemptions, and estimated taxes. If you disagree with the assessed value, you can petition the Sarasota County Value Adjustment Board (VAB). The deadline is typically a short window after TRIM mailings, often about 25 days, so check your notice and act quickly.
Example: estimating your tax savings
Here is a simple illustration of how homestead helps:
- The property appraiser sets your assessed value after considering the Save Our Homes cap.
- Subtract your homestead exemptions from the assessed value to get your taxable value.
- Multiply taxable value by the combined millage rates for county, city if applicable, school, and special districts to estimate the tax bill.
Illustrative example: If the assessed value is $300,000 and you receive the full $50,000 homestead exemption, the taxable value becomes $250,000. Your actual dollar savings depend on local millage rates.
Common mistakes to avoid
- Missing the filing deadline and having to wait until the next year.
- Having different addresses across your Florida driver’s license, voter registration, and vehicle registration.
- Buying a home after January 1 and expecting the exemption for that same tax year. If you purchased after January 1, you typically must apply for the following year by the deadline.
- Overlooking portability when moving within Florida. Portability has its own application process and timeline.
Other exemptions Sarasota owners can explore
Beyond the basic homestead exemption, you may qualify for additional relief that requires separate applications. Options may include exemptions for widows or widowers, veterans and surviving spouses, persons with disabilities, and senior or low‑income programs offered at the county level. Check Sarasota County’s specific documentation and requirements.
What homestead does not do
Homestead exemption reduces property tax liability. It does not change your mortgage interest, homeowner’s insurance premiums, or HOA dues. It also does not eliminate mortgages, tax liens, or HOA assessments.
Florida’s Constitution also provides strong protection from forced sale by creditors for homestead property, with acreage limits of up to 0.5 acre within a municipality and up to 160 acres outside a municipality. Homestead may have special rules in probate, including limits on how the property can be devised when there is a surviving spouse or minor children. If you have estate planning questions, consider a legal review.
Moving within Florida? Use portability
If you plan to sell and buy another Florida home as your primary residence, you can apply to transfer your Save Our Homes benefit to the new homestead. Gather these items early:
- The prior homestead’s address and parcel ID.
- Dates the prior homestead received the exemption.
- Your closing dates and occupancy plans for the new home.
Apply with the property appraiser for your new homestead and confirm the local deadline. Portability is time-sensitive, so build it into your move timeline.
Sarasota buyer or owner checklist
- Confirm you owned and occupied your Sarasota home on January 1 of the tax year.
- Align your Florida driver’s license, voter registration, and vehicle registration with your homestead address by January 1.
- File your application with the Sarasota County Property Appraiser by the March 1 deadline.
- Review your TRIM notice in late summer and respond quickly if you need to appeal.
- If moving, prepare portability paperwork tied to your prior homestead.
Ready to plan your next step or confirm how these rules fit your situation? Reach out for local guidance and a friendly walkthrough. For a smooth, family-first experience in Southwest Florida, connect with Jessica Ozuna Torres to get answers and Get Your Instant Home Valuation.
FAQs
Who qualifies for the Florida homestead exemption in Sarasota?
- You must own and occupy the property as your permanent residence on January 1, and you can claim only one homestead per person or married couple.
What is the Save Our Homes cap for Sarasota homeowners?
- The assessed value of a qualifying homestead can rise by no more than 3% per year or the CPI change, whichever is lower.
How much can the homestead exemption reduce my taxable value?
- Up to $50,000, with the first $25,000 applying to all taxes and the second up to $25,000 applying only to non-school taxes on assessed value between $50,000 and $75,000.
When is the Sarasota County homestead filing deadline?
- The general statewide deadline is March 1 for the current tax year, but always confirm the exact date with the Sarasota County Property Appraiser.
Can I claim homestead if I bought my Sarasota home after January 1?
- Typically no for that same tax year; you would apply by the deadline for the following year once you own and occupy the home on January 1.
How does portability help when I move within Florida?
- You can apply to transfer your Save Our Homes benefit to your new Florida homestead to reduce its assessed value, subject to rules, limits, and deadlines.
What documents does Sarasota County usually require to apply?
- Proof of ownership and Florida residency tied to the homestead address, such as a Florida driver’s license, vehicle registration, and voter registration.
What if I disagree with my Sarasota assessed value on the TRIM notice?
- You can file a petition with the Sarasota County Value Adjustment Board within the deadline shown on your TRIM notice, usually a short window after mailing.
