Assessment Reductions

Assessment Reductions Residential properties are eligible for various tax and assessment benefits, including Save Our Homes and Portability, which are available for properties with Homestead Exemptions. Save Our Homes Homeowners with a homestead exemption have property tax increases capped annually at 3%. Portability Homeowners can transfer the difference between the assessed and market values from their previous homestead property to a new homestead property. Non-Homestead Cap This cap limits increases in the annual assessment of non-homestead properties to 10%. Granny Flat Homesteaded property owners can apply for an assessment reduction after adding living quarters for a parent or grandparent. Related Resources Calculating Save Our Homes Get examples on calculating how Save Our Homes benefits permanent residents with tax savings. Calculating Portability Find out how transferring your Homestead Exemption to a new property affects your tax savings.