Eric P. Feichthaler

Dear Mr. Feichthaler:

We have lived in our “starter home” for 15 years in Cape Coral, and recently purchased a larger home to accommodate several more kids, and another dog. Do we need to reapply for homestead, or will it automatically carry over to our new home.

— Sherrill J.

Dear Sherrill:

Congratulations on your new home! Homestead provides significant property tax savings to thousands of families in Cape Coral due to the $50,000 taken off assessed value each year. Homeowners that have owned their homes for many years save even more through the “Save Our Homes” reduction. This feature caps the amount a homesteaded property can increase each year for tax purposes. Currently, value cannot increase more than 3% annually, even when actual property values go up more. This savings is particularly impressive for those that owned their homestead during the financial crisis, which resulted in a very low taxable value between 2010-2012, and was capped under 3% each year since.

First, you do need to apply for homestead on your new home for the standard reduction in property taxes. For you, an even greater benefit is the ability to transfer the savings you had on market value to your new home. This is done through a “Transfer of Homestead Portability” application, which is attached to the main homestead application. Since you have purchased a larger home, it is likely the entire amount of “Save our Homes” savings will transfer to the new property. Between the two, you should save thousands of dollars on your property taxes every year.

Remember, for this to apply for the next tax year (2024), you need to apply by the end of this coming February. But, there is no need to wait. Apply for homestead and transfer of the save our homes savings as soon as possible, confirm with the property appraiser they have received them and look forward to a continued break on property taxes! More information can be found on homestead and portability at the Le

Eric P. Feichthaler has lived in Cape Coral for over 35 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Southwest Florida to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through the Cape Coral Caring Center, Cape Coral Museum of History, and Cape Coral Kiwanis. He has been married to his wife, Mary, for over 20 years, and they have four children together. He earned his board certification in Real Estate Law from the Florida Bar. He is AV Preeminent rated by Martindale-Hubbell for professional ethics and legal ability, and is a Supreme Court Certified Circuit Civil Mediator. He can be reached at eric@capecoralattorney.com, or 239-542-4733.

This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.