Portability Information

NOTE: If you have already applied for Homestead Exemption in 2008, be sure to complete the application and return it to the Lee County Property Appraiser's Office no later than March 3, 2008 to be eligible for this benefit.

ATTN: Public Service Department
P.O. Box 1546
Fort Myers, FL 33902

Or, visit us at the Lee County Constitutional Complex at 2480 Thompson Street, 4th Floor, Fort Myers, FL 33901.

Detailed Save Our Homes Portability Information.
Download the Transfer of Homestead Portability Application.

How much of the difference between assessed and market value ("Save Our Homes difference") can be applied depends on how the value of your new home compares to the value of your old home and how title was held on your property.

• If the new home's market value is the same or greater than the old home's market value:

  The entire difference will be applied to your new home, so that the difference between the market and assessed values of your new home will be the same as the difference between the market and assessed values of your old home.

  Example

  Old Homestead Property
  Market Value:	$200,000
  Assessed Value:	$150,000
  Difference:	$50,000 (this is the available portability amount)
  New Homestead Property
  Market Value:	$300,000
  Available portability:	-$50,000
  New Property Assessed Value:	$250,000

• If the new home's market value is less than the old home's market value:

  The entire amount of the difference will not be applied to the new home. Instead, the new home's Save Our Homes difference will be the same percentage of its market value as the old home's difference is of the old home's market value. For example, if the old home's Save Our Homes difference is 40% of its market value, the new home's difference can be determined by multiplying 40% times the new home's market value. Then subtract that amount from the market value to arrive at the assessed value.

  Example

  Old Homestead Property
  Market Value:	$250,000
  Assessed Value:	$150,000
  Difference:	$100,000 (this is the available portability amount)
  Percentage:	40% (the value difference is 40% of the Market Value)
  New Homestead Property
  Market Value:	$200,000
  Available portability:	-$80,000 (40% of $200,000)
  New Property Assessed Value:	$120,000

• Maximum deduction from market value:

  The amendment sets $500,000 as the maximum amount that can be subtracted from the market value of a homesteader's new home to determine the assessed value.

  Example

  Old Homestead Property
  Market Value:	$900,000
  Assessed Value:	$350,000
  Difference:	$550,000
  New Homestead Property
  Market Value:	$1,000,000
  Available portability:	-$500,000 (maximum allowable portability amount)
  New Property Assessed Value:	$500,000