Florida's homestead exemption reduces the taxable value of your primary residence and, more importantly, starts the clock on the Save Our Homes assessment cap. Over a decade of ownership in a rising market, the cap is usually worth far more than the exemption.
What the exemption is worth in 2026
- A base exemption of $25,000 on all property taxes.
- An additional exemption, now indexed to inflation, of $26,411 for 2026 that applies to the portion of assessed value between $50,000 and $75,000 and excludes school taxes.
- Total: $51,411 for 2026, per the Florida Department of Revenue's annual adjustment.
On a high-value home the exemption itself is modest. The cap is the prize.
Save Our Homes: the 3% cap
Once a property has homestead status, its assessed value for tax purposes can rise no more than 3% per year or the change in the Consumer Price Index, whichever is lower, regardless of what the market does. Non-homestead property is capped at 10% (and the 2026 ballot amendment proposes lowering that to 5%). After a few years of appreciation, the gap between market value and assessed value becomes substantial, and it's locked in for as long as you own and homestead the property.
Portability: If you later move within Florida, you can transfer up to $500,000 of that accumulated Save Our Homes difference to the new homestead.
How to apply in Palm Beach County
- Own the home and occupy it as your permanent residence as of January 1.
- Apply with the Palm Beach County Property Appraiser by March 1 (online filing is available).
- Have your Florida driver's license, voter registration or Declaration of Domicile, vehicle registration and Social Security numbers for all owners ready; the appraiser's office lists what it accepts.
- The exemption renews automatically each year; you'll receive a renewal card to confirm nothing has changed.
The November 2026 ballot amendment
The Florida Legislature passed a joint resolution in a June 2026 special session, titled "Save Our Homes from Excessive Property Taxes," that goes to voters in November 2026. If approved, it would substantially increase the homestead exemption for county and municipal (non-school) taxes beginning in 2027, index it to inflation, and lower the assessment cap on non-homestead property from 10% to 5%. The proposal also includes residency-length provisions that phase in the larger exemption for people who establish Florida residency on or after January 1, 2027. Buyers closing in 2026 and establishing homestead for January 1, 2027 should discuss the timing with their advisors; this page will be updated after the vote.
Other homestead protections
- Florida's constitution shields homestead property from forced sale by most creditors.
- Additional exemptions exist for seniors with limited income, veterans with disabilities, surviving spouses of first responders, and others.
Why Boca Raton, specifically
South Florida has a dozen luxury markets. Relocating families keep choosing Boca Raton because it combines things the others split up: a real downtown (Mizner Park, Royal Palm Place, the Boca Raton Museum of Art and The Boca Raton resort), five miles of mostly uncrowded beach, a dense cluster of private golf and yacht clubs, strong public and private schools, two international airports within about 30 minutes, a Brightline station for Miami and Orlando, and an executive airport for private aviation right in the city.
East Boca Raton, east of I-95 and especially east of Federal Highway, is where most relocating buyers at the top of the market settle: the deep-water estates of Royal Palm Yacht & Country Club, the Intracoastal homes of Lake Rogers Isle, the walkable Golden Triangle, the private-club life at St Andrews Country Club, and the oceanfront and Intracoastal condominiums along A1A and downtown.
This page is general information for people considering a move to Boca Raton. It is not tax, legal or financial advice. Rates, exemptions and deadlines change; verify current figures with a CPA or attorney licensed in the states involved.
