When you downsize, only a share of your Save Our Homes savings moves, scaled by the two values.
An upsizer carries the full difference, up to $500,000. Portability is not automatic: you file Form DR-501T with the new homestead application by March 1, within three years of January 1 of the year you left the old house.
This is general information, not legal advice. State rules vary.
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If you have owned your house in Fort Myers, Florida for years, Save Our Homes may have kept its assessed value well below its market value. Save Our Homes portability in Lee County lets you move part of that gap to your next Florida homestead. When you downsize, though, the law scales the amount down. Under Fla. Stat. 193.155(8)(b), the share that moves equals the new house's just value divided by the old house's.
An owner who buys a pricier house carries over the full difference, up to $500,000. Either way, the transfer is not automatic. The Lee County Property Appraiser's portability page says "You must apply for portability when you apply for homestead," and the state form, DR-501T, is due by March 1. This guide walks through the math, the deadlines, and how the sale date fits in.
How much Save Our Homes savings carries over when you downsize?
A downsizer carries over a percentage of the Save Our Homes difference, equal to the new house's just value divided by the old house's just value. The "difference" is the old house's just value minus its assessed value on January 1 of the year you abandoned it.
Two rules in Fla. Stat. 193.155(8) decide which math applies. The test is simple: compare the new house's just value on January 1 with the old house's just value on January 1 of the abandonment year.
- Equal or higher value (upsizing), 193.155(8)(a): the new house's assessed value is its just value minus the full difference, capped at $500,000.
- Lower value (downsizing), 193.155(8)(b): the new assessed value is set by a ratio, so only part of the difference moves.
The downsizing rule reads like this in the statute:
"[T]he assessed value of the new homestead shall be equal to the just value of the new homestead divided by the just value of the prior homestead and multiplied by the assessed value of the prior homestead."
Fla. Stat. 193.155(8)(b), Florida Statutes
The Lee County Property Appraiser describes the same steps on its portability page. Divide the new just value by the old one to get a percentage. Multiply the old benefit by that percentage. Subtract the result from the new house's just value to reach its assessed value.
What the cap itself does
The difference exists because of the yearly cap. Under 193.155(1), a homestead's assessed value can rise each January 1 by no more than 3% or the change in the Consumer Price Index, whichever is lower. Years of that limit are what build the gap you may be able to carry.
Upsizing versus downsizing: an illustrative example
In this illustrative example, an owner with a $300,000 difference carries all of it to a pricier house but only half of it to a house worth half as much. The numbers are round figures for teaching, not Fort Myers or Lee County values.
| Illustrative step | Upsize, 193.155(8)(a) | Downsize, 193.155(8)(b) |
|---|---|---|
| Old house just value (January 1 of the abandonment year) | $500,000 | $500,000 |
| Old house assessed value (same date) | $200,000 | $200,000 |
| Save Our Homes difference | $300,000 | $300,000 |
| New house just value (January 1) | $600,000 | $250,000 |
| Share that moves | 100% (up to $500,000) | $250,000 / $500,000 = 50% |
| Benefit carried to the new house | $300,000 | $150,000 |
| New house assessed value | $600,000 - $300,000 = $300,000 | $250,000 / $500,000 x $200,000 = $100,000 |
The downsize column checks out both ways. The statute's ratio gives $250,000 divided by $500,000, times $200,000, which is $100,000. The appraiser's method gives $250,000 minus the $150,000 benefit, also $100,000.
These are assessed values, before the homestead exemption and any other exemption comes off. The Lee County Property Appraiser's own examples note that they "do not consider other personal exemptions or assessment reductions." Your own figures come from the appraiser's records for both houses.
What do you file, and by when?
You file Form DR-501T, "Transfer of Homestead Assessment Difference," as an attachment to the homestead application for the new house, and the form says to file it by March 1. The Lee County Property Appraiser also says that you "must apply and qualify for homestead exemption by March 1 of the year you wish to qualify."
The DR-501T form asks for the old address, its parcel ID, its county, and the date it sold or stopped being your homestead. Co-applicants coming from a different homestead fill out a separate form. In Lee County, the appraiser's page lists four ways to apply:
- Online at leepa.org
- By email to the exemptions address on the page
- In person, Monday to Friday, 8:30 a.m. to 5:00 p.m.
- By U.S. mail
If March 1 passes
A missed deadline is not always the end. Under 193.155(8)(j), a qualified owner can still apply and petition the value adjustment board, with a $15 nonrefundable fee. The board or the appraiser can grant it for "particular extenuating circumstances." Under 193.155(8)(k), you can also file in a later year, with no refund of earlier taxes.
How long do you have to set up the new homestead?
You have three years, counted from January 1 of the year you abandoned the old homestead. The statute says the new owner must have "received a homestead exemption as of January 1 of any of the 3 immediately preceding years."
The appraiser's portability page puts it in plain terms. Its example is a sale on November 15, 2025. The abandonment year is 2025, so the new homestead must be in place by January 1, 2028.
| Date (Lee County Property Appraiser example and Fla. Stat. 193.155(8)) | What it means |
|---|---|
| January 1, 2025 | The old house's just and assessed values on this date set the difference (193.155(8)) |
| November 15, 2025 | The old house sells, so 2025 is the abandonment year |
| March 1 of the first year you claim the new homestead | Homestead application and Form DR-501T due |
| April 1, or 2 weeks after the request | If the new house is in another county, Lee County returns the old figures (193.155(8)(i)) |
| January 1, 2028 | Last date to have the new homestead established |
Abandonment, in the appraiser's words, "happens when you sell your home or tell us you no longer make your current home your permanent residence." A 2026 law, ch. 2026-239, also dropped the word "immediate" from the prior-homestead test, starting with the 2027 tax roll (Florida Department of Revenue bulletin PTO 26-07).
Why January 1 matters for your closing date
January 1 matters because the statute measures both the old house's values and the start of your three-year window from January 1 of the year you abandon it. The appraiser's page notes that "January 1 is the date of assessment for all property in Florida."
A sale closing in late December makes that year the abandonment year. A sale closing a few weeks later, in January, makes the new year the abandonment year. In the second case, the new year's January 1 values are the ones the formula uses, and the window starts a year later.
Which choice works better depends on the numbers in your own records. A property appraiser or a tax professional can confirm how a specific closing date applies to your case. If you are weighing dates, the downsizing guide covers the other parts of the move.
How a softer year changes the portable amount
A lower just value on January 1 of the abandonment year shrinks the difference you can carry, because the difference is just value minus assessed value on that date. The sale price you later accept does not enter the formula.
Two parts of 193.155 work together here. The cap in subsection (1) limits how fast assessed value rises. Subsection (2) lowers assessed value to just value if it would ever be higher. A flat or falling just value leaves less room between the two numbers.
Fort Myers sources do not agree on direction right now. Redfin's September 2026 data puts the median sale price at about $330,842, up 3.7% from a year earlier. Zillow's typical house value (ZHVI) for September 2026 is about $304,566, down about 4.2%. Neither figure is your house's just value, and neither says where values go next.
For more on local numbers, see the Fort Myers housing market guide and the statewide Florida housing market overview.
What happens to the old house's assessment for your buyer?
Your buyer does not inherit your capped value: under 193.155(3)(a), the house is assessed at just value as of January 1 of the year after a change of ownership.
Florida also requires a warning to the buyer. Under Fla. Stat. 689.261, a buyer of residential property gets a Property Tax Disclosure Summary at or before signing. It tells the buyer not to rely on the seller's current taxes, since a change of ownership triggers a reassessment that could mean higher taxes.
This reset follows a sale to an outside buyer, whoever that buyer is. The buyer's later bills start from that new just value, not from your capped figure.
Moving out of Lee County within Florida
Portability works across Florida counties, and the appraiser in the new house's county handles your application. Under 193.155(8)(i), that office sends your form to the Lee County Property Appraiser.
Lee County then returns the old house's figures by April 1 or within 2 weeks of receiving the request, whichever is later. It also certifies whether the old house was abandoned. The new county uses that information to calculate the amount that transfers.
Portability is a Florida assessment rule, so it applies only when the new homestead is also in Florida. If the old house belonged to a parent and you are now the one selling it, the guide to selling an inherited Fort Myers house covers probate instead.
How can Propcash help when you sell to downsize?
Propcash is a direct cash homebuyer, and we buy houses as-is in Fort Myers and across Lee County. We make one cash offer based on local market data and show you how we got to our number. You pick the closing date, which can help when a date near January 1 matters to your plans.
A cash offer is one option to compare with listing or waiting. If a cash sale is not your best move, we will tell you. You can get a no-obligation cash offer or read more on our Fort Myers cash house buyer page. There are no fees or commissions, and our offer stands while you check your numbers with the property appraiser.
Frequently Asked Questions
Does Save Our Homes portability happen on its own when I sell my Fort Myers house?
Save Our Homes portability does not happen on its own. The Lee County Property Appraiser says you must apply for portability when you apply for homestead on the new house. The application is Form DR-501T, an attachment to the homestead application, and the form says to file it with the property appraiser by March 1.
Can I buy the smaller house before I sell my Fort Myers house?
Florida law lets an owner abandon a homestead for portability even while still living in it. Under Fla. Stat. 193.155(8)(g), you notify the property appraiser where the old house sits in writing, at the same time as or before you file the new homestead application. A property appraiser can confirm how that notice fits your dates.
What if I miss the March 1 deadline for the transfer form?
A late portability filing is not always lost. Fla. Stat. 193.155(8)(j) lets a qualified owner who missed March 1 file anyway and petition the value adjustment board, with a $15 nonrefundable fee and a showing of extenuating circumstances. Under 193.155(8)(k), an owner can also file in a later year, but the reduction starts that year and earlier taxes are not refunded.
Two of us each owned a homestead. What carries over to one shared smaller house?
When two people who each had a homestead set up one new homestead together, Fla. Stat. 193.155(8)(c) limits the reduction to the higher of the two old differences. It may not exceed $500,000. The two benefits are not added together.
Does the $500,000 limit apply when I buy a cheaper house?
The $500,000 limit applies to downsizers as well as upsizers. Under Fla. Stat. 193.155(8)(b), if the scaled formula leaves a gap over $500,000 between the new house's just value and assessed value, the assessed value is raised until the gap is $500,000. The same $500,000 ceiling applies to upsizers under 193.155(8)(a).
Which property appraiser handles my filing if the smaller house is outside Lee County?
The property appraiser in the county of the new house handles the portability filing. Under Fla. Stat. 193.155(8)(i), that office sends your form to the Lee County Property Appraiser, which returns the old house's figures by April 1 or within 2 weeks, whichever is later. The new county then calculates the amount that transfers.
Data Sources: Fla. Stat. 193.155 and 689.261 (Florida Legislature), Lee County Property Appraiser portability page, Florida Department of Revenue Form DR-501T and bulletin PTO 26-07, Redfin and Zillow (September 2026). Propcash is a direct cash homebuyer, not a tax adviser. A property appraiser or tax professional can confirm how these rules apply to your house.
Reviewed by the Propcash Editorial Team under our editorial standards. Published by Propcash, a direct cash buyer of houses. This guide is general information. Laws, fees, and market figures change, so check the current rules for your state.
