How The Homestead Exemption Works In Boca Raton

Thinking about how to pay less in property taxes on your Boca Raton home? If you make the property your primary residence, Florida’s homestead exemption can lower your assessed value and unlock long-term savings. Many new buyers miss key dates or misunderstand how portability works when they move. In this guide, you’ll learn what the exemption covers, who qualifies, how to file in Palm Beach County, and how to estimate your savings. Let’s dive in.

Homestead basics in Florida

What the exemption does

Florida’s homestead exemption reduces the assessed value of your primary residence for ad valorem property taxes. The statewide benefit is up to $50,000:

• The first $25,000 applies to assessed value up to $50,000 and generally applies to all taxing authorities, including school district taxes.
• The additional up-to-$25,000 applies to the portion of assessed value between $50,000 and $75,000 and generally applies to non-school taxes only.

Beyond tax savings, Florida’s Constitution provides strong homestead protections for primary residences, subject to statutory limits.

Save Our Homes cap

The Save Our Homes (SOH) cap limits how much your assessed value can increase each year once you have homestead. The annual increase is capped at the lower of 3% or the change in the Consumer Price Index. Over time, this often creates a gap between your market value and assessed value, which helps control your tax bill as values rise.

Portability overview

Portability lets you transfer some or all of your SOH differential from a prior Florida homestead to a new homestead. The differential is the difference between your market value and assessed value on the prior homestead. Under current law, you can transfer up to $500,000 of assessed-value differential when both the former and new homes qualify as Florida homesteads and you file the proper application.

Who qualifies in Boca Raton

Ownership and residency rules

To qualify, you must both own the property and make it your permanent legal residence as of January 1 of the tax year. Non-U.S. citizens can qualify if they are legal Florida residents and meet ownership and residency requirements. Keep proof of ownership and Florida residency at the property address when you apply.

One homestead limit

You can claim only one homestead exemption at a time. If you have multiple properties, select the one that is your permanent primary residence. Claiming more than one exemption can trigger audits and the loss of benefits.

Key dates and timing examples

The controlling date is January 1. If you own and occupy your home as your permanent residence on January 1, you are eligible to apply for that tax year.

• If you close and move in on December 20, 2025 and occupy on January 1, 2026, you can apply for the 2026 tax year.
• If you close on March 15, 2026, you did not occupy on January 1, 2026, so you would apply for 2027.

Additional exemptions to explore

You may qualify for extra exemptions if you are a senior, a veteran, a person who is totally and permanently disabled, a widow or widower, or a surviving spouse of a first responder. Each program has separate rules and documentation handled by the county property appraiser.

How to file in Palm Beach County

Where and when to apply

Boca Raton is in Palm Beach County. You file with the Palm Beach County Property Appraiser. The standard deadline for an initial homestead application is March 1 of the tax year. Verify current-year details directly with the county.

Documents to gather

Have these items ready, based on typical county requirements:

• Proof of ownership, such as a recorded deed or vesting instrument.
• Proof of Florida residency at the homestead address, such as a Florida driver’s license or Florida ID with the property address, Florida vehicle registration, voter registration, or recent utility bills.
• Social Security number or other identification requested on the county form.
• If claiming portability, documentation showing the SOH differential from your prior Florida homestead.

Step-by-step filing checklist

1. Confirm you owned and occupied the property as your permanent residence on January 1 of the tax year.
2. Gather proof of ownership and residency at the property address.
3. Update your driver’s license, vehicle registration, and voter registration to the homestead address as soon as possible.
4. Complete the Palm Beach County homestead application. If applicable, complete the portability section or separate portability form.
5. Submit your application by March 1 online, by mail, or in person as permitted by the county.
6. Save copies of your deed, settlement statement, and application for your records.

Late filing and corrections

If you miss March 1, contact the Palm Beach County Property Appraiser right away. Some late filings may still qualify for subsequent years, but you generally cannot receive the exemption retroactively for a missed year.

How tax savings are calculated

Basic calculation method

Your tax savings equal the reduction in assessed value from the homestead exemption multiplied by the combined millage rate. Here is an example to show the idea:

• Assessed value before exemption: $300,000
• Homestead exemption: $50,000
• Net assessed value: $250,000
• Example combined millage rate: 20 mills (0.020 per dollar)
• Estimated tax with exemption: $250,000 × 0.020 = $5,000
• Estimated tax without exemption: $300,000 × 0.020 = $6,000
• Estimated annual savings: $1,000

Use the county’s current assessed value and the most recent combined millage rates for a precise estimate, since rates change yearly.

Portability example

Imagine your former Florida homestead has a market value of $600,000 and an assessed value of $300,000. Your SOH differential is $300,000. If your new homestead’s market value is $800,000, and you transfer the full $300,000 differential (subject to the statutory cap and county processing), your new assessed value could be reduced by that amount. That reduction produces immediate tax savings compared with being assessed at full market value. Always file portability with your new homestead application to capture the benefit.

Tips for new buyers in Boca Raton

If you are closing before January 1

• Move in and make the property your permanent residence before January 1.
• Update your driver’s license, vehicle registration, and voter registration to your new address promptly.
• File your homestead application by March 1.

If you are closing after January 1

• Plan to apply the following tax year because you were not owner-occupant on January 1.
• Keep your deed and closing documents handy for next year’s application.
• If you had a prior Florida homestead, gather portability documentation from your prior county.

Common pitfalls to avoid

• Assuming a post–January 1 move-in qualifies for the current year.
• Forgetting to update your identification and voter registration to the homestead address before filing.
• Missing the March 1 deadline.
• Expecting portability to apply automatically without filing the portability claim.
• Relying on generic estimates instead of using the county’s assessed value and current millage rates.

Local resources and next steps

You will apply and confirm details with the Palm Beach County Property Appraiser. For bills and payment schedules, check with the county tax collector. If your situation involves title transfers, unique ownership structures, or additional exemptions, contact the property appraiser for guidance before the deadline.

If you are planning a move within South Florida or weighing the timing of your purchase around January 1, you do not have to navigate this alone. For personalized guidance on homestead timing, portability, and local tax impacts while you buy or sell, reach out to Karina Kulikova. Karina’s concierge approach and regional expertise make the process clear and stress-free.

FAQs

What is the Florida homestead exemption in Boca Raton?

• It reduces the assessed value of your primary residence for property taxes by up to $50,000, following statewide rules applied by Palm Beach County.

When is the Palm Beach County filing deadline?

• The standard deadline for an initial homestead application is March 1 of the tax year.

How does Save Our Homes limit tax increases?

• Once homesteaded, your assessed value can rise only by the lower of 3% or the CPI change each year.

How does portability work if I move within Florida?

• You can transfer up to $500,000 of your SOH differential from your former homestead to your new one when both qualify and you file the portability claim.

Do school taxes get the full exemption?

• The first $25,000 applies to all taxing authorities, including school district taxes; the additional up-to-$25,000 applies to non-school taxes only.

Can non-U.S. citizens qualify for homestead?

• Yes, if they are legal Florida residents who meet ownership and permanent residency requirements as of January 1.

What documents do I need to apply?

• Proof of ownership, proof of Florida residency at the property address, identification as required, and portability records if you are transferring SOH benefits.

What if I bought after January 1 this year?

• You will apply for homestead next tax year because you were not an owner-occupant on January 1 of the current year.