Homestead Exemption Basics For Hobe Sound Homeowners

Are you claiming every property tax dollar you’re entitled to in Hobe Sound? If 33455 is your primary residence, Florida’s homestead exemption and the Save Our Homes cap can meaningfully reduce your annual tax bill. Many owners and buyers converting a second home to a primary miss key dates or portability options. This guide breaks down what to know in Martin County, what to file, and how timing affects your savings. Let’s dive in.

What homestead exemption does

Florida’s homestead exemption reduces the assessed value of your primary home, which can lower your yearly property taxes. The total exemption is up to $50,000 in assessed value, applied in two tiers. It also pairs with the Save Our Homes cap, which limits how fast your assessed value can rise each year.

In Hobe Sound and across Martin County, this reduction applies to the taxable base used for county, municipal, school district, and special district taxes. It does not eliminate taxes; it helps reduce them by lowering taxable value.

Who qualifies in 33455

To qualify, you must own the property and make it your permanent residence as of the tax year. You can claim only one Florida homestead. The exemption is for natural persons, not corporations or entities. If co-owners have different residency statuses, the property appraiser will review who may claim.

Deadlines and key dates

• Ownership and occupancy test: You must own and occupy the property as your permanent residence on January 1 of the tax year you are claiming.
• Application deadline: File by March 1 to receive the exemption for that year’s tax roll.
• Missed the deadline: Check with the Martin County Property Appraiser for any late-filing options for good cause.

Documents you’ll need

Local documentation can change, but you can expect to provide:

• Proof of ownership such as a deed or closing statement.
• Proof of Florida residency: Florida driver’s license with your Hobe Sound address, Florida voter registration, and vehicle registration showing the Florida address.
• Social Security Number (or last four digits) for each applicant.
• Completed homestead exemption application filed with the county property appraiser.

Always confirm current requirements with the Martin County Property Appraiser before you apply.

Save Our Homes explained

How the SOH cap works

The Save Our Homes cap limits the annual increase of your homestead’s assessed value to the lesser of 3% or the percentage change in the CPI for that year. Because market values often rise faster, long-time owners see assessed values lag market value, creating a built-up benefit that lowers taxes over time.

Portability when you move

If you sell a Florida homestead and buy a new primary residence in Florida, you can apply to transfer, or “port,” your accumulated SOH benefit to the new homestead. This can reduce the new home’s assessed value by the amount of your prior benefit. You must claim portability with the destination county’s property appraiser and provide records from your prior homestead. Deadlines and forms may differ from the homestead application, so confirm details with the Martin County office.

Portability is especially useful if you’re converting a Hobe Sound second home to a primary residence after having a prior Florida homestead elsewhere.

How it lowers your taxes

Homestead and SOH work together to reduce your taxes:

• Your tax bill is generally calculated as (Assessed value after SOH adjustments − exemptions) × the combined millage rate.
• The first $25,000 of the homestead exemption applies to all property taxes, including school taxes.
• The second $25,000 applies only to non-school taxes and only to assessed values above $50,000. Your total benefit depends on your assessed value and local millage rates.

Hypothetical example

Consider a hypothetical for illustration only:

• Combined local millage: 20 mills ($20 per $1,000 of assessed value)
• Market value: $600,000
• Assessed value with SOH: $400,000
• Homestead exemption: $50,000

Taxable assessed value becomes $400,000 − $50,000 = $350,000. Estimated tax = $350,000 × 0.020 = $7,000. Without homestead and SOH, a $600,000 assessment at the same rate would be $12,000. The combined effect of homestead and SOH can materially reduce annual taxes compared with a market-value assessment.

Step-by-step: file in Martin County

1. Establish Florida residency
   • Update your Florida driver’s license and voter registration to your Hobe Sound address.
   • Register your vehicles in Florida and update your mailing address.
2. Confirm your timing
   • Ensure you owned and occupied the home as your primary residence by January 1 for the year you plan to claim.
3. Gather documents
   • Ownership proof, Florida residency documents, SSN details, and any prior homestead records for portability.
4. File your application by March 1
   • Submit the homestead exemption application to the Martin County Property Appraiser.
5. If applicable, file portability
   • If you had a prior Florida homestead, submit the portability application with Martin County and keep prior county records handy.

For statewide background on homestead, SOH, and portability rules, visit the Florida Department of Revenue’s property tax resources.

Common pitfalls to avoid

• Missing the March 1 filing deadline for the current year.
• Assuming the exemption is automatic. You must apply and provide documentation.
• Claiming more than one homestead in Florida.
• Overlooking portability when moving from a prior Florida homestead.
• Waiting until after January 1 to establish residency for the year you hope to claim.

When to get help

If your ownership involves trusts, multiple owners, or recent moves between Florida counties, the process can get nuanced. For current forms, documentation lists, and local procedures, rely on the Martin County Property Appraiser and the Florida Department of Revenue. If you are weighing homestead timing, portability strategy, or a move within the Palm Beaches, connect for a private, streamlined plan that fits your goals.

If you’re deciding whether to make your Hobe Sound home your primary residence or are planning a move into or within 33455, let’s map the right path to protect your tax position and your time. For confidential guidance and local insight, reach out to Jennifer Lourie.

FAQs

What is the homestead filing deadline in Martin County?

• File by March 1 of the tax year to receive the exemption for that year’s tax roll.

How does the Save Our Homes cap actually limit taxes?

• Each year your homestead’s assessed value cannot increase by more than the lesser of 3% or the change in CPI, which slows tax growth versus market value.

Can I claim homestead if I bought after January 1?

• Generally no for that tax year; you would apply the following year once you meet the January 1 ownership and permanent residency test.

What is portability and how do I use it in Martin County?

• Portability lets you transfer your SOH benefit from a prior Florida homestead to your new one by filing with the Martin County Property Appraiser and providing prior records.

What documents do I need to apply in Hobe Sound?

• Expect proof of ownership, Florida driver’s license and voter registration with your Hobe Sound address, vehicle registration, SSN, and the county application form.

Does the full $50,000 exemption reduce all taxes?

• The first $25,000 applies to school and non-school taxes, while the second $25,000 applies only to non-school taxes and only to assessed values above $50,000.