🌴 What Is the Homestead Exemption?
In simple terms, the Florida Homestead Exemption is a property tax reduction for homeowners who make their Florida residence their permanent home. It’s designed to make homeownership more affordable—especially in high-demand coastal markets like Merritt Island, Cocoa Beach, and Satellite Beach, where property values have risen significantly in recent years.
Under Florida Statute §196.031, qualifying homeowners can reduce their property’s taxable assessed value by up to $50,000—directly lowering their property tax bill.
This exemption applies only to your primary residence, meaning you must live in the home as your main residence as of January 1 of the tax year. You can only claim one homestead exemption per family across the entire state of Florida.
💰 How Much Can You Save?
The savings depend on your property’s assessed value and millage rate (the rate local governments use to calculate taxes).
In Brevard County, the average millage rate is around 18–20 mills (or $18–$20 per $1,000 of assessed value).
Here’s how it works:
- First $25,000 Exemption: Applies to all property taxes, including school district taxes.
- Second $25,000 Exemption: Applies only to non-school taxes, on the assessed value between $50,000 and $75,000.
✅ Example: If your home’s assessed value is $300,000, you could save $800–$1,000 per year depending on your municipality.
Over 10 years, that’s $8,000–$10,000 in tax savings — not counting other exemptions or the Save Our Homes Cap.
🛡️ The “Save Our Homes” Cap Explained
Another major advantage of homesteading in Florida—especially in rapidly appreciating areas like Viera, Melbourne Beach, and Indian Harbour Beach—is the Save Our Homes (SOH) cap.
This law limits annual increases in your assessed value to 3% (or the change in the Consumer Price Index, whichever is lower).
That means even if market prices skyrocket, your property taxes will only rise modestly each year. Without this cap, your taxes could increase 10–20% annually during hot market cycles.
🚚 Portability: Take Your Tax Benefit With You
If you’re relocating within Florida—say, from Orlando to Cocoa Beach, or from Palm Bay to Merritt Island—you can bring your tax savings with you through Portability.
You can transfer up to $500,000 of your Save Our Homes benefit to your new Florida property, as long as you apply within three years of selling your previous homestead.
This is especially valuable for downsizing homeowners or retirees moving from high-value homes in Viera or Satellite Beach to smaller properties elsewhere on the Space Coast.
🏠 Who Qualifies for the Brevard County Homestead Exemption?
To qualify, you must: ✅ Own and occupy the property as your primary residence as of January 1 of the tax year. ✅ Be a permanent resident of Florida (U.S. citizenship not required). ✅ Not claim residency or homestead exemption in another state. ✅ File your application by March 1 each year.
If you closed on your home in 2025, you can apply for the 2026 tax year anytime between now and March 1, 2026.
🗓️ Application Process for Brevard County Homeowners
All applications are processed by the Brevard County Property Appraiser’s Office (BCPAO)—not the Tax Collector.
Step-by-Step Guide:
- Gather Required Documents:
- Florida driver’s license or state ID with your Brevard County address.
- Florida vehicle registration and voter registration.
- Recorded property deed or closing statement.
- Proof of permanent residency (utility bill, lease termination, or green card).
- Social Security number(s).
- Apply by March 1:
- Online: bcpao.us/homestead (Easiest method—upload documents and complete Form DR-501.)
- In Person: Visit offices in Titusville, Viera, Palm Bay, or Melbourne.
- By Mail: Send your completed Form DR-501 and copies of supporting documents to: Brevard County Property Appraiser, P.O. Box 191, Titusville, FL 32781
- Check Your Status:
- You’ll receive confirmation by mail once approved.
- You can also verify online using the BCPAO property search tool.
If your application is denied, you can appeal to the Value Adjustment Board (VAB), usually by September.
💡 Additional Exemptions That Stack With Homestead
Brevard County offers several additional exemptions to reduce taxes even further:
Exemption TypeWho QualifiesSavings (Approx.)Senior Exemption65+ with annual income ≤ $35,000Up to $50,000Widow/Widower ExemptionUnmarried surviving spouse$5,000Disabled VeteransService-connected disability$5,000–Full ExemptionPermanent Disability100% disabled (non-veteran)Full ExemptionFirst Responder ExemptionLine-of-duty disabilityFull ExemptionHomestead Tax DeferralLow-income seniorsDefer taxes until sale
Each exemption has separate documentation requirements—check with BCPAO for details or visit floridarevenue.com/property.
📍 Why the Homestead Exemption Matters for Brevard County Homeowners
Whether you live on Sykes Creek, in Viera’s master-planned communities, or along South Tropical Trail, the Homestead Exemption helps protect homeowners from rising tax burdens while promoting long-term stability in Florida’s housing market.
It’s especially beneficial in coastal areas like Cocoa Beach and Merritt Island, where rising property values could otherwise lead to hefty annual tax increases.
This benefit also supports retirees, military families, and first-time homebuyers—making Brevard County one of the most affordable and homeowner-friendly counties on Florida’s East Coast.
🔑 Quick Summary
FeatureDescriptionDeadlineStandard Homestead ExemptionUp to $50,000 off assessed valueMarch 1Save Our Homes CapLimits annual assessment increases to 3%AutomaticPortabilityTransfer up to $500K in capped valueWithin 3 yearsSenior, Veteran, Disability ExemptionsAdditional savings by eligibilityMarch 1Tax Deferral ProgramDefer property taxes based on incomeMarch 31
🧭 Final Thoughts from a Local Realtor
As a Merritt Island and Cocoa Beach Realtor, I always encourage my clients—especially new homeowners relocating to Florida—to apply for their Homestead Exemption as soon as possible.
Not only does it lower your taxes, but it also gives you peace of mind knowing your property value increases are capped under Save Our Homes.
If you’ve recently purchased a home on the Space Coast, or plan to move to Brevard County, I can guide you through the process of filing, understanding your tax notices, and maximizing every benefit available to you as a Florida homeowner.
📞 Contact Carrie Liotta, your trusted Brevard County Realtor Whether you’re buying, selling, or relocating, I’ll help you navigate every step—from homestead filing to long-term ownership savings.