Homestead & Portability: Collier Sellers’ Playbook

Selling in Naples? Your property tax bill on the next home can be far lower if you plan your homestead and portability steps before and after closing. If you are moving across Collier County or relocating within Florida, the Save Our Homes rules can protect a big portion of your assessed value. In this playbook, you will learn the key limits, the three-year look-back, the March 1 filing deadline, and the exact forms to file in Collier. Let’s dive in.

Homestead and Save Our Homes basics

Florida’s homestead exemption works with the Save Our Homes cap, which limits how much your assessed value can rise each year after you claim homestead. The cap is the lower of 3% or CPI. The gap between just value and capped assessed value is your Save Our Homes benefit. You can review the law and definitions in the state statute on homestead assessments and portability here.

Portability: keep your tax advantage

Portability lets you transfer some or all of your prior homestead’s assessment difference to your next Florida homestead. That transfer can reduce the new home’s assessed value and your future tax bill. Portability was created to help you move without losing your hard-earned assessment cap. The rules and math for transfers are set by Florida law and county procedures.

Eligibility and limits sellers must know

• Who can transfer: You must have received a homestead exemption on your previous Florida home and then establish a new Florida homestead. Spouses and joint owners are addressed in statute. See the statewide rules here.
• How much transfers: The maximum portable amount is $500,000 when the new home’s just value is equal to or higher than the prior home. If the new home’s just value is lower, a proportional amount transfers under the statute’s downsizing formula. Details are in the same statute linked above.
• Timing window: Current rules provide a three-year look-back. You must have received homestead on the prior property as of January 1 of one of the immediately preceding three tax years, and you must establish the new homestead by January 1 of the year you request the transfer. See the administrative rule on timing and procedures here.

Deadlines and required forms

To claim portability on your new Florida home, you file two items with the property appraiser where the new home is located. The standard deadline is March 1 of the tax year you want the benefit.

• Form DR-501 (Homestead Exemption Application)
• Form DR-501T (Transfer of Homestead Assessment Difference)
• If spouses or former spouses must designate shares from a prior homestead, you may also need Form DR-501TS. Find the official forms on the Florida Department of Revenue’s index here.

Collier County filing essentials

Collier County follows the statewide rules and provides local instructions and FAQs. You will file your forms with the Collier County Property Appraiser. Review Collier’s portability guidance and contact options here. For a practical document checklist and homestead instructions, see the county’s homestead FAQ page here.

Documents to gather before you file

• Deed and closing statements for both the prior and new property
• Parcel ID for your prior homestead and the date you sold or abandoned it
• Proof of Florida residency and occupancy as of January 1 for the new home (driver license, vehicle registration, voter registration or Declaration of Domicile)
• Social Security numbers for applicants (required by statute)

Late filing path if you miss March 1

If you miss March 1, do not wait. Florida provides a limited late remedy through a petition to the county Value Adjustment Board. The petition window is tied to the TRIM notice mailing, and approvals are not guaranteed. Read the statewide late-filing and VAB procedures in Rule 12D-8.0065 here.

Selling, buying, and your closing

Property taxes in Florida are paid in arrears, and closing statements usually prorate taxes so each party pays for the days they owned the property. Your homestead status impacts future assessments, not the mechanics of same-year prorations at closing. Closing agents often use the prior year’s bill or an agreed estimate to calculate taxes, and buyers should apply for their own homestead by March 1. See a summary of Florida closing practices here.

Real-world scenarios Naples sellers ask about

• Selling mid-year: If you sell your homesteaded Naples home in June, the property will typically be reassessed at just value for the next tax year after the change in ownership. Your portability depends on establishing your new Florida homestead and filing DR-501 and DR-501T on time.
• Downsizing: If your next home’s just value is lower, you still get portability, but the county applies a proportional transfer amount. The $500,000 cap still applies.
• Moving out of state: Portability only applies to a new Florida homestead. It does not transfer to a home in another state.

Your portability action checklist

• Before you list: Confirm your current assessed value, just value, and your Save Our Homes benefit. Note your parcel ID. The Collier Property Appraiser can help you pull recent values.
• Plan your move: If you intend to port, make sure you will occupy the new Florida home as your primary residence by January 1 of the tax year you want the transfer.
• After you buy: File DR-501 and DR-501T with the property appraiser for the new home’s county by March 1. If applicable, file DR-501TS.
• If you miss March 1: Contact the Collier County Property Appraiser immediately and ask about the VAB petition timeline tied to TRIM notices.
• Keep records: Save deeds, closing statements, occupancy proof, and prior parcel information to streamline the county’s review.

Plan your move with confidence

Preserving your Save Our Homes benefit can save you meaningful dollars over time, especially across high-value Naples properties. With the right timeline and the correct forms, you can make a smooth transition and keep your tax advantage working for you. If you want a calm, coordinated process from listing to closing to filing day, connect with The Norgart Team for concierge guidance tailored to your move.

FAQs

What is Save Our Homes and how does it help me?

• Save Our Homes limits annual assessed-value increases on a Florida homestead to the lower of 3% or CPI, creating an assessment difference you can later transfer under portability; see the statute overview here.

How does portability work when I downsize in Naples?

• You can still transfer your assessment difference, but the amount is prorated based on the new home’s lower just value and is subject to the $500,000 cap under Florida law.

What are the exact forms and deadline in Collier County?

• File DR-501 and DR-501T by March 1 with the property appraiser where your new home is located; find the official forms here and Collier-specific guidance here.

What is the three-year look-back for portability eligibility?

• You must have received a homestead exemption on your prior property as of January 1 of one of the immediately preceding three tax years, and you must establish the new homestead by January 1 of the year you request the transfer; see the administrative rule here.

Can I transfer my portability to a home outside Florida?

• No. Portability only applies when you establish a new Florida homestead under the state’s rules.

What if I miss the March 1 deadline in Collier?

• You may petition the county Value Adjustment Board within the limited window tied to TRIM mailings; review the late-filing pathway in Rule 12D-8.0065 here.