Portability in Florida allows homeowners to:

The homestead exemption itself (the $50,000 deduction from assessed value under Florida Statutes § 196.031) is not 'portable' — every qualifying Florida homeowner can apply for and receive the homestead exemption on any new primary residence, so it doesn't need to be transferred. Portability specifically refers to the accumulated SOH assessed value cap differential, which is a separate and distinct benefit from the exemption.

Portability does not eliminate property taxes entirely — it reduces the assessed value used to calculate taxes on the new homestead by transferring the SOH differential, but the homeowner still pays taxes on the remaining assessed value. No legal mechanism in Florida allows homestead owners to avoid property taxes altogether.

Renting out a homestead is entirely unrelated to portability and would actually jeopardize the homestead exemption itself, since Florida law requires the property to be the owner's primary permanent residence to qualify for homestead status and its associated tax benefits.