Definition
Save Our Homes
Save Our Homes is Florida's constitutional cap limiting how much a homesteaded property's assessed value can rise each year — 3% or the inflation rate, whichever is lower. The cap ends when the property changes hands, so inherited homes are generally reassessed at full market value.
On a home owned for decades, the cap opens a wide gap between assessed and market value — which is why the tax bill the family remembers reflects the capped number. Only a narrow set of transfers carries the cap forward (a surviving spouse, certain dependents); an adult child inheriting generally does not qualify.
The practical consequence: the property tax bill on an inherited Florida house can multiply at the January 1 reassessment after transfer. Look up the parcel's current assessment and model the uncapped bill before deciding to hold the property.
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