A Florida homeowner is porting the Save Our Homes (SOH) benefit from a previous homestead to a new one. The previous home had a just (market) value of $335,000 and an assessed value of $235,000 (a $100,000 SOH differential). The new home has a just (market) value of $425,000. Ignoring the $50,000 homestead exemption, what is the maximum assessed value of the new homestead in the first year after porting (upsizing case)?
Correct Answer
B) $325,000
For an upsizing port, the SOH differential ($335,000 − $235,000 = $100,000) is subtracted from the new home's just value: $425,000 − $100,000 = $325,000 maximum assessed value before the homestead exemption is applied.
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