How the Florida Homestead Exemption Works on a Brand-New Home

"The Florida homestead exemption works the same way on a brand-new home as on any other home: you must own it and live in it as your permanent Florida home on January 1, then apply with your county property appraiser by March 1 of that year. For the 2026 tax year, the Florida Department of Revenue (checked Sept. 24, 2026) puts the most you can save on taxable value at $51,411. The big question for new-construction buyers is timing, because your closing date decides which year you can first claim it.

What is the Florida homestead exemption?

The homestead exemption lowers the taxable value of the home you live in full time. A lower taxable value means a lower property tax bill.

According to the Palm Beach County Property Appraiser (checked Sept. 24, 2026), it works in two parts:

• A $25,000 exemption on the first $50,000 of assessed value. This one applies to all taxes, including school taxes.

• An additional exemption on assessed value above $50,000. This one does not apply to school taxes, and it rises each year with inflation.

The Florida Department of Revenue's adjustment table (revised January 2026, checked Sept. 24, 2026) sets that additional amount at up to $26,411 for 2026. Add the two parts and the most you can take off for 2026 is $51,411.

The Palm Beach County Property Appraiser says the exemption can generally save $750 to $1,000 a year in property taxes (checked Sept. 24, 2026). Your own savings depend on your home's value and local tax rates.

Who qualifies for homestead on a new home?

The Palm Beach County Property Appraiser (checked Sept. 24, 2026) lists these rules. As of January 1, you must:

1. Be a permanent resident of Florida.

2. Hold title to the property.

3. Make the property your permanent residence.

4. Not receive residency-based tax benefits anywhere else.

The key words are ""as of January 1."" Florida Statutes section 196.011 (checked Sept. 24, 2026) ties the exemption to who owns the property on January 1 of the tax year.

When should you file homestead on a new-construction home?

File by March 1 of the first year you own and live in the home on January 1. Section 196.011 (checked Sept. 24, 2026) says failing to apply by March 1 is a waiver of the exemption for that year, with limited exceptions.

Here is how the timing plays out. These are EXAMPLES of the calendar rule above, not promises about any home:

Rule source: Palm Beach County Property Appraiser and Florida Statutes section 196.011, both checked Sept. 24, 2026.

So a closing in late December can mean a whole year of savings compared with a closing in early January. If you have any say in your closing date, ask about it.

Missed March 1? Section 196.011 (checked Sept. 24, 2026) allows a late application within 25 days after the property appraiser mails the proposed tax notices, if you can show extenuating circumstances. It is not guaranteed, so do not count on it.

Why is the first tax bill on a new home sometimes lower?

Florida Statutes section 192.042 (checked Sept. 24, 2026) says property is valued as of January 1. It also says improvements ""not substantially completed on January 1 shall have no value placed thereon.""

In plain words: if your house was still being built on January 1, that year's bill may be based mostly on the land. The next year, the finished home is assessed. That jump can catch new-construction buyers off guard. Ask for a tax estimate based on the finished home, not last year's bill.

How do you apply for homestead in Palm Beach County?

The Palm Beach County Property Appraiser (checked Sept. 24, 2026) offers three ways to file: online e-file, in person at a service center, or by mailing a printed application.

The office lists these items to have ready:

• Social Security numbers for all owners applying and their spouses.

• A valid Florida driver's license, or a Florida ID if you do not drive.

• At least one more item, such as a Florida vehicle registration, Florida voter registration at the home's address, a Declaration of Domicile, a federal tax return, or utility bills for the home.

Once approved, the exemption renews on its own each year as long as you still qualify, according to the same office. If you sell, move or change how title is held, you must tell the property appraiser.

If your home is in Martin, Broward or Miami-Dade County, apply with that county's property appraiser. The state rules are the same, but each office has its own filing steps.

How does Save Our Homes help after you file?

Homestead also turns on the Save Our Homes cap. The Palm Beach County Property Appraiser (checked Sept. 24, 2026) says it limits yearly increases in your assessed value to 3% or the change in the Consumer Price Index, whichever is lower.

Once your new home has homestead, the cap limits how fast its assessed value can rise. Over time, that can open a gap between market value and assessed value.

Can you bring homestead savings from your old Florida home?

Yes, through portability. The Palm Beach County Property Appraiser's portability page (checked Sept. 24, 2026) says you can transfer all or much of your Save Our Homes benefit, up to $500,000, to a new Florida homestead.

Two rules from that page matter:

• You must set up the new homestead on or before January 1 of the third year after leaving the old one.

• The portability deadline is March 1. File it at the same time as your homestead application.

The exemption itself does not move. You file a new homestead application for the new home.

Would the November 2026 ballot amendment change this?

Maybe. Florida voters will decide a property tax amendment on November 3, 2026. The official ballot summary from the Florida Division of Elections (checked Sept. 24, 2026) says it would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028.

The same summary says people who are not Florida residents on December 31, 2026, would start with the existing exemption, with the higher amount beginning in their fifth year of exemption. It needs at least 60% of the vote to pass, according to the Division of Elections. The filing rules above would still apply either way.

What this means for new-construction buyers in Southeast Florida

Buying new gives you more control over timing than most resale buyers get. Use it:

• Watch the calendar. Owning and living in the home by January 1 decides your first homestead year.

• Mark March 1. Put the homestead and portability deadline in your phone the day you close.

• Budget for the finished-home bill. The first bill may be low if the home was not substantially completed on January 1.

• Keep your papers together. Your closing documents, Florida license and one more proof item are what the county asks for.

We are builder-neutral, so we can walk you through closing timelines across different communities and help you plan around January 1.

Common Questions

Ready to take the next step?

Call 561-704-0091 to talk with a National House Search specialist, or Schedule a visit.

Related reading: Lakeside Landing new homes · Buying a new-construction townhome for the first time · New townhomes in Palm Beach County

This is general information, not financial, tax or legal advice. Figures checked September 24, 2026."