Is your Plant City tax bill top of mind as home values keep climbing? You’re not alone. Many homeowners worry that higher prices will push their taxes out of reach. The good news is Florida’s Save Our Homes cap helps steady your assessed value so your taxes don’t jump as fast as the market. In this guide, you’ll learn what the Save Our Homes cap does, how the 2025 limit of 2.9% works, and how portability can follow you when you move. Let’s dive in.
Save Our Homes in plain English
Save Our Homes limits how much the assessed value of your homesteaded property can increase each year for ad valorem tax purposes. If you live in your home as your primary residence and claim the homestead exemption, your assessed value can only go up by the lesser of 3% or the change in the Consumer Price Index. This protection is set in Florida law and administered locally.
The goal is simple. It protects you from sharp assessed-value spikes when market prices rise quickly. Your market value can still change, but your assessed value is held to that cap as long as you keep your homestead.
It’s equally important to know what Save Our Homes does not cover. It does not apply to rental, vacation, or commercial properties. It also does not limit local millage rates, and it does not prevent assessed-value increases from new construction or improvements.
2025 cap: what 2.9% means
For the 2025 tax roll, the Save Our Homes cap is 2.9%. Practically speaking, that number is the maximum percentage your assessed value can increase for 2025 if you still qualify for homestead.
Here is how the cap is applied:
- Start with last year’s assessed value on your homestead.
- Multiply that number by 1.029 to find the maximum assessed value allowed for 2025.
- The property appraiser then sets the assessed value subject to this limit and any applicable exemptions.
A quick hypothetical helps. If your 2024 assessed value was 250,000, the maximum 2025 assessed value under a 2.9% cap would be 257,250. Your actual tax bill is still based on your taxable value after exemptions and the millage rates set by local taxing authorities. If market value drops, your assessed value can go down. The cap is a ceiling, not an automatic increase.
Who qualifies and who does not
- Qualifies: Primary residences that receive the Florida homestead exemption.
- Does not qualify: Rental homes, second homes, and commercial property.
- Not limited by SOH: Millage rate changes and value from new construction or major improvements.
Portability when you move
Portability lets you transfer some or all of your Save Our Homes assessment difference from your current Florida homestead to a new Florida homestead. The amount you can transfer is the difference between your old home’s market value and assessed value, subject to statutory limits.
What actually moves is the assessment difference, not your homestead exemption. On your new home, the transferred amount reduces the assessed value, which can lower your taxable value once your new homestead is in place. Going forward, the Save Our Homes cap applies to the new homestead each year.
How portability plays out
- Buying a higher-priced home: You may be able to bring the full assessment difference to reduce the new home’s assessed value, up to the allowed limit.
- Buying a lower-priced home: Your transferred amount may be limited by the new home’s value and statutory caps.
Timing and filing basics
- You must file a portability application with the county property appraiser. It is not automatic.
- There are deadlines and documentation requirements. Check current instructions with the Hillsborough County Property Appraiser before you close or soon after.
Estimate your 2025 taxes step by step
Use these steps to build a realistic forecast for a home in Plant City:
Confirm your current values. Look up your property record with the Hillsborough County Property Appraiser to see both market value and assessed value. The difference between them is your Save Our Homes benefit.
Note the 2025 cap. For existing homesteads, apply the 2.9% cap to last year’s assessed value to estimate the maximum 2025 assessed value. Remember, assessed value can be lower if market value falls or other provisions apply.
If you plan to move, estimate the new home’s market value. Use your purchase price or a recent appraisal.
Calculate your portability amount. Determine how much of your assessment difference you may transfer to your new homestead, subject to limits. Use the Hillsborough County Property Appraiser’s portability resources or speak with their staff for a tailored estimate.
Factor in exemptions. Confirm that you will establish the homestead exemption at your new address. The exemption itself does not transfer. You must apply for the new homestead.
Apply local millage rates. After you estimate your taxable value, multiply by the latest millage rates for your area of Plant City. Rates vary by city, county, school district, and special districts. These rates are set by the taxing authorities after assessed values are published.
Review improvements. If you plan renovations, understand that new construction and additions can increase assessed value beyond the Save Our Homes cap.
Common scenarios to consider
Staying in your current home
If you keep your homesteaded Plant City home into 2025, the 2.9% cap will limit your assessed-value increase for that year. Your taxable value will still reflect applicable exemptions and the millage rates set later in the year.
Moving within Florida
If you sell and buy another Florida homestead, you can apply for portability to reduce the new home’s assessed value. Be mindful of deadlines, documentation, and the statutory limit on how much you can transfer. The Save Our Homes cap then applies each year to your new homestead.
Downsizing or rightsizing
When you buy a less expensive home, your transferable amount may be constrained by the new home’s value and the portability rules. The result can still be a meaningful reduction in your assessed value, but it may not equal the full difference you had on your previous home.
Adding space or renovating
Permitted improvements and new construction are not limited by Save Our Homes. Those additions can increase your assessed value outside the cap, so plan your budget with that in mind.
Plant City owner checklist
- Verify homestead status on your current home.
- Write down your current market value, assessed value, and the difference.
- Apply the 2.9% cap to estimate your 2025 assessed value if staying put.
- If moving, estimate the new home’s value and your potential portability amount.
- Confirm filing deadlines and forms with the Hillsborough County Property Appraiser.
- Track proposed millage rates from local taxing authorities as budget season unfolds.
- Recheck numbers before closing or starting a major renovation.
Why this matters in Plant City
Plant City has seen steady buyer interest, and market values influence the county’s just values. The Save Our Homes cap is designed to smooth out those ups and downs for homesteaded owners. Understanding the 2.9% cap for 2025 and how portability works can help you compare staying versus moving with clearer numbers and fewer surprises.
Get local guidance you can trust
You do not have to decode these rules alone. A quick conversation with a local expert can save you hours and help you avoid costly filing mistakes. If you are thinking about selling, buying, or both, we can help you pressure test your tax assumptions, coordinate timing for homestead and portability filings, and align your move with the numbers that matter.
Ready to plan your next step with confidence? Get your free home valuation and a practical SOH and portability walkthrough tailored to your address. Reach out to Unknown Company to get started.
FAQs
What is Save Our Homes for Plant City owners?
- It is a Florida rule that limits annual assessed-value increases on homesteaded primary residences to the lesser of 3% or the CPI change. It helps stabilize your tax base as market values change.
What is the 2025 Save Our Homes cap?
- For the 2025 tax roll, the cap is 2.9%. That is the maximum increase to your assessed value on an existing homestead for 2025, subject to other statutory provisions.
Does Save Our Homes lower my tax bill automatically?
- Not automatically. It limits assessed-value growth. Your final bill also depends on exemptions and local millage rates, which can change each year.
How does portability work if I move within Florida?
- You can transfer some or all of your Save Our Homes assessment difference to your next Florida homestead, up to statutory limits. You must file a portability application with the county property appraiser.
Do renovations fall under the Save Our Homes cap?
- Generally no. New construction or improvements can increase assessed value beyond the cap, so plan for a possible jump after permitted work.
Who should I contact to confirm my numbers in Plant City?
- Contact the Hillsborough County Property Appraiser for your official values, homestead status, portability forms, calculators, and deadlines. They are the local authority for your assessment and filings.
