How does “upsizing” work?
Upsizing occurs where your New Homestead Property has an equal or greater Just (Market) Value than your Previous Homestead propertys Just Value from the last year you held a Homestead exemption there. When you upsize, you transfer the full Portability value (up to $500,000) from your Previous Homestead property. To determine your Portability value from your Previous Homestead property: deduct your Save Our Homes Value from your Just Value for the last year you held a Homestead exemption on the Previous Homestead property this is your “Homestead Assessment Difference”, or your Portability value. Your Portability value then transfers to your New Homestead property, where it is deducted from the new propertys Just Value, thereby lowering the new propertys assessed value. You may use the portability calculator at the top of any property record page to see an estimate of how this would work — or use our generic portability calculator to get a general idea of the numbers. However, we sugges
Upsizing occurs when your New Homestead Property has an equal or greater Just (Market) Value than your Previous Homestead propertys Just Value from the last year you held a Homestead exemption there. When you upsize, you transfer the full Portability value (up to $500,000) from your Previous Homestead property. To determine your Portability value from your Previous Homestead property: deduct your Save Our Homes Value from your Just Value for the last year you held a Homestead exemption on the Previous Homestead property this is your “Homestead Assessment Difference”, or your Portability value. Your Portability value then transfers to your New Homestead property, where it is deducted from the new propertys Just Value, thereby lowering the new propertys assessed value. You may use the portability calculator at the top of any property record page to see an estimate of how this would work — or use our generic portability calculator to get a general idea of the numbers. However, we suggest
