Thinking about buying a home in Crestview and wondering how to keep your property taxes predictable? Florida’s homestead exemption can lower your taxable value, and the Save Our Homes assessment cap can keep your assessed value from jumping each year. If you are moving within Florida, portability may let you transfer your tax savings to your new Crestview home.
In this guide, you will learn who qualifies, when to apply, how portability works, and what to watch after you file. You will also get a step-by-step checklist you can use before and after closing. Let’s dive in.
Homestead exemption basics
Florida’s homestead exemption reduces the taxable assessed value of your primary residence. At the state level, homeowners can receive up to a total of $50,000 in exemption on the assessed value of a qualifying homestead.
- The first $25,000 applies to all taxing authorities, including school district taxes.
- The additional exemption amount applies to assessed value between $50,000 and $75,000 and does not apply to school district taxes.
Your property tax is generally calculated as: (assessed value − exemptions) × total millage rate. The homestead exemption lowers the number used in that calculation.
Who qualifies in Crestview
To qualify in Okaloosa County, the home must be your permanent residence as of January 1 for that tax year, and you must own the property. You also need to be a Florida resident for the exemption.
Counties typically accept several forms of proof of residency and ownership. You will want to gather items such as a Florida driver license or ID card showing your Crestview address, voter registration, vehicle registration, your deed or closing statement, and, if you use it, a Declaration of Domicile. Utility or insurance documents can help as additional proof.
Key dates and deadlines
- You must own and occupy the property as your permanent residence on January 1 of the tax year to claim that year’s homestead exemption.
- The standard statewide filing deadline for your initial homestead application is March 1.
- If you buy and move in after January 1, you typically apply the following year once you meet the January 1 ownership and residency requirement.
- If you miss March 1, contact the Okaloosa County Property Appraiser right away. Limited late-filing remedies can exist in narrow circumstances, but do not assume acceptance without county guidance.
How to apply in Okaloosa
Crestview homeowners file with the Okaloosa County Property Appraiser. The process is straightforward.
- Confirm you meet the January 1 ownership and residency requirement for the tax year you are filing.
- Gather your documents: Florida driver license or ID with your Crestview address, voter registration or vehicle registration reflecting the address, your deed or closing statement, and any additional residency proof you have.
- Complete the county application and submit it with your documents. You can file in person, by mail, or online if the county offers e-filing. Follow local instructions for uploads or notarization, if required.
- If you are transferring a Florida homestead, notify the Property Appraiser you want to claim portability when you apply.
Ownership structure matters. Trustees and certain revocable trusts can qualify when properly titled, but corporations cannot. If you are closing in a trust, confirm the titling supports homestead with the county before you file.
Save Our Homes assessment cap
Once your property has a homestead exemption, the Save Our Homes (SOH) assessment limitation applies. Each year, the assessed value of a qualified homestead can only increase by the lesser of 3% or the change in the Consumer Price Index. This cap helps stabilize your assessed value from year to year.
The SOH cap and the homestead exemption work together. The exemption reduces the assessed value today, while the SOH cap limits how fast that assessed value can rise in the future.
Portability: move your benefit
If you had a Florida homestead on another property, you may be able to transfer some or all of your SOH benefit to your new Crestview homestead. Portability carries forward the difference between your prior homestead’s market value and its capped assessed value, subject to a statutory maximum.
Here is how to claim portability:
- Tell the Okaloosa County Property Appraiser you are claiming portability when you file your new homestead application.
- Provide details about your prior Florida homestead, including the address, county, the year the homestead was established, and the prior tax folio number if you have it.
- Be prepared to share your closing statement and occupancy dates. Counties coordinate with your prior county to verify the amount you can transfer.
Timing is simple. You typically claim portability at the same time you file homestead on the new home. If you are a move-up buyer coming from another Florida county, reach out to your former county’s property appraiser early so you have any certification they provide ready when you apply.
Crestview buyer scenarios
Example: move-up buyer in Crestview
Imagine your prior Florida homestead had a market value of $300,000 and an assessed value of $200,000 because of SOH. Your SOH benefit is $100,000. You buy a new Crestview home with a market value of $450,000. If you can transfer the full $100,000 benefit, your new assessed value would be reduced by that amount, subject to statutory limits, before your homestead exemption is applied.
In simple terms, taxable assessed value might look like:
- New assessed value before SOH adjustments
- Minus your ported SOH benefit
- Minus your homestead exemption
This is a hypothetical illustration. Your exact numbers will be calculated by the county based on current rules and verified benefit amounts.
Example: new to Florida
If you are moving from out of state and did not have a Florida homestead, portability does not apply. You can still claim the homestead exemption once you own and occupy your Crestview home as your permanent residence on January 1 and you file by March 1 of that year.
What to do after filing
Watch your TRIM notice. Each year, counties mail Truth In Millage (TRIM) notices in late August. Your TRIM shows your proposed taxes, assessed value, exemptions, and tentative millage rates. Review it closely to confirm your homestead status and the assessed value.
If you disagree with an assessment or an exemption decision, contact the Property Appraiser promptly. You can file a petition with the county’s Value Adjustment Board, but deadlines are time sensitive and counted from the TRIM mail date. The Property Appraiser’s office can provide the current steps and deadlines.
Common pitfalls to avoid
- Waiting to update your driver license, voter registration, or vehicle registration after you move. These are commonly requested as proof of Florida residency.
- Assuming you qualify when buying under an entity that does not meet homestead rules. Check your title and trust setup before filing.
- Thinking that a mid-year move creates eligibility for that tax year. You must own and occupy the home on January 1 for that year’s exemption.
Quick buyer checklist
Before or at closing:
- Decide if the home will be your primary residence and plan to establish Florida domicile.
- Update your driver license and, if applicable, voter and vehicle registration to your Crestview address as soon as possible.
- Keep your recorded deed and closing statement in a safe place.
After closing and before January 1 (if your timeline allows):
- Ensure you own and occupy by January 1 to qualify for that tax year.
- If transferring a Florida homestead, request portability information from your former county and prepare the details for Okaloosa.
By March 1 (the standard deadline):
- File your homestead application with the Okaloosa County Property Appraiser and include portability information if applicable.
After filing:
- Review your TRIM notice in late August to confirm assessed value and exemptions.
- If something looks off, contact the Property Appraiser quickly and review Value Adjustment Board petition deadlines.
Partner for a smooth filing
Getting your homestead and portability right can save you money and reduce surprises in your first tax year. If you are relocating within the Panhandle, upsizing in Crestview, or moving here with military orders, you deserve clear guidance and hands-on help from contract to post-close. When you are ready to buy in Crestview, reach out to Chris Schultz for a quick plan tailored to your move and timeline.
FAQs
If I buy in February, do I qualify that year?
- You generally must own and occupy the home as your permanent residence on January 1 of the tax year; a February purchase usually qualifies for the following tax year if you are still the owner-occupant on the next January 1.
Does the homestead exemption reduce school taxes?
- The first $25,000 of the homestead exemption applies to all taxing authorities, including school district taxes; the additional exemption amount does not apply to school district taxes.
How does the Save Our Homes cap work?
- For a qualified homestead, the assessed value can rise only by the lesser of 3% or the change in the Consumer Price Index each year, which helps limit annual increases.
How do I transfer my SOH benefit to Crestview?
- Claim portability when you file your homestead application in Okaloosa County and provide details about your prior Florida homestead; the counties will verify the transferable amount.
What documents should I prepare for my application?
- Gather your Florida driver license or ID with your Crestview address, voter or vehicle registration, your deed or closing statement, and any other residency proof such as a Declaration of Domicile.
What if I miss the March 1 deadline?
- Contact the Okaloosa County Property Appraiser immediately; there may be limited late-filing options in narrow circumstances, but you should not assume acceptance without county guidance.
