If the new home's market value is the same or greater than the old home's market value, the homeowner may be able to transfer the entire difference to the new home. If the new home's market value is less than the old home's market value, the homeowner may be able to transfer a percentage of the Save Our Homes benefit, so that the assessed value is the same percentage of market value for the new home, as it was for the old home. In some cases, the amount a person can transfer is limited to his or her share of the old homestead's assessment limitation difference, based on the number of owners. See your local property appraiser for details on how to determine your transfer amount.
Homestead Owners Who Move after January 1, 2008 Have through March 1, 2009 to