Love Your Home & Save Money (The March 1st Deadline You Can’t Miss)

February in Florida is synonymous with peak season. The weather is perfect, our local calendars are packed with fun events and beautiful weather, but while you are enjoying the "season," there is a critical financial deadline approaching that every homeowner needs to circle on their calendar.

If you bought a home in 2025 and made it your primary residence as of January 1st, you have until March 1st to file for your Homestead Exemption.
 

Here is why this filing is the most important "valentine" you can give your bank account this month, along with a quick look at what is happening in the local market right now.
 

1. The Homestead Exemption: Why It Matters

The Florida Homestead Exemption is one of the most powerful tools for homeowners to reduce their property tax burden. If you are eligible, this exemption can reduce the assessed value of your home by up to $50,000.
 

Here is how the savings break down:

• The First $25,000: This exemption applies to all property taxes, including school district taxes.

• The Second $25,000: This applies to the assessed value between $50,000 and $75,000 and covers non-school taxes.
 

Beyond the immediate tax savings, the exemption also qualifies you for the "Save Our Homes" assessment limitation. This caps the annual increase of your home's assessed value at 3% or the percentage change in the Consumer Price Index (CPI), whichever is lower. Over time, this cap can result in massive savings as your property’s market value rises.
 

2. Do You Qualify?

To be eligible for this year's exemption, you must answer "yes" to the following:

• Did you own the property on January 1, 2026?

• Was the property your permanent residence (or that of a dependent) on January 1?
 

If you moved within Florida, you may be able to "port" (transfer) your accumulated "Save Our Homes" benefits from your previous Florida homestead to your new one, potentially saving you even more.
 

3. What You Need to File

You can usually file online through your county property appraiser’s website, or in person. Be prepared to provide proof of residency, which may include:
 

• Florida driver’s license or ID card number.

• Florida vehicle license plate number.

• Florida voter registration number.

• Declaration of domicile.
 

Remember: The deadline to file Form DR-501 is March 1st.
 

4. The February Market Pulse

While taxes are on the mind, it is also worth noting that February is historically a powerful month for the real estate market.
 

• For Sellers: Data suggests that February is one of the best months to sell. We are currently in peak season, meaning buyer activity is high.

• For Buyers: Inventory is currently higher than it was this time last year, giving you more options to choose from. While interest rates have made buyers more selective, well-priced homes in desirable neighborhoods are still moving quickly.

The Bottom Line:
Don't let March 1st slip by! Check your county property appraiser’s website today to ensure your exemption is filed.
 

For more information, see the links below to your county appraiser:
 

Pinellas: https://www.pcpao.gov/homestead-exemption
Hillsborough: https://www.hcpafl.org/E-Filing/Homestead-E-file
Pasco County: https://pascopa.com/exemptions/exemptions/homestead/