If you are eyeing a home in Venice and wondering what your property tax bill might look like after closing, you are not alone. Florida’s Save Our Homes rules can protect you over time, but they also create surprises if you do not plan ahead. In this guide, you will learn how the cap works, what changes after a sale, how portability can help, and the deadlines that matter in Sarasota County. Let’s dive in.

Save Our Homes basics in Venice

The cap and your assessed value

Florida’s Save Our Homes (SOH) limits how much your assessed value can rise each year once you have a homestead. By rule, increases are capped at the lower of 3% or the annual Consumer Price Index change. That cap applies only to property with an active homestead exemption and continuing ownership. You can review how assessed value differs from market value in the state’s SOH overview from Hillsborough County’s property appraiser, which explains the mechanics clearly for all Florida counties.

• Learn more about the SOH cap and assessed vs market value in the state overview: Save Our Homes explained.

Because the cap can hold your assessed value below market, an owner often builds a gap between market value and assessed value. Many people call that gap the SOH benefit.

2025 inflation update to homestead exemption

For 2025, the SOH cap is tied to the CPI and counties publish the annual figure. The published cap for 2025 is 2.9%. You can check the current year’s cap on county pages that share the Florida Department of Revenue caps: FDOR annual cap reference.

Florida voters also approved Amendment 5 in November 2024, which requires an annual inflation adjustment to the additional homestead exemption that applies to non‑school levies for value above $50,000. For 2025, that second exemption adjusts to 25,722 dollars. This change does not alter the SOH cap itself but can affect your taxable value for non‑school portions of the bill. See the county press summary: Amendment 5 inflation adjustment.

What happens to taxes when you buy

Reset to market value after a sale

If you buy a home that the seller has homesteaded for years, the seller’s capped assessed value does not transfer to you. After a change of ownership, the property is reassessed to full market (just) value on January 1 of the next year, and your homestead cap starts from that new base once you file and qualify. Sarasota County guidance explains this change‑of‑ownership reset in its FAQs: Sarasota County PA FAQs.

Why taxes can rise in a soft market

Florida’s “recapture” rule allows the assessed value to continue rising by the SOH cap even in years when market values flatten, until assessed value catches up to market value. That is why you might see a tax increase even when prices soften. See a clear explanation of the recapture rule: Recapture, explained.

Billing and proration timing

Property tax bills in Sarasota County are issued November 1 and become delinquent April 1 of the following year. Many closings occur before the new bill is out, so taxes are often prorated using the prior year’s amount, with agreements to re‑prorate once the new bill arrives. Review the county’s schedule here: Sarasota County Tax Collector property tax overview.

Move your tax savings with portability

Who qualifies and how it works

If you are moving to Venice from another Florida homestead, you may be able to transfer part of your SOH assessment difference to your new homestead, up to 500,000 dollars. You request portability when you file for your new homestead using Form DR‑501 and attach Form DR‑501T. Sarasota County’s portability page outlines how the transfer works: Portability in Sarasota County.

For the formal rules, including deadlines and the 500,000 dollar cap, see the Florida Administrative Code reference: Rule 12D‑8.0065, portability procedures.

Timing that matters

• Application deadline: March 1 for both homestead (DR‑501) and portability (DR‑501T).
• Portability window: You generally must establish the new homestead within three assessment years after abandoning the prior one. Sarasota County’s FAQs cover timing examples: Sarasota County PA FAQs.

Improvements that can raise your assessment

New additions or improvements are added at full market value when completed. After that, the SOH cap applies to those improvements in future years. Certain ownership changes can also trigger reassessment to market. The SOH overview linked above explains these mechanics for Florida owners.

A simple Venice scenario

• A Venice home has a market value of 900,000 dollars and an assessed value of 600,000 dollars under the seller’s long‑held homestead. The 300,000 dollar difference is the seller’s SOH benefit.
• You buy the home. On January 1 after closing, the county sets your base at the market value for that year.
• If you have no portability, your first homestead year starts from that new market value, then future increases are capped by SOH.
• If you qualify for portability and transfer, say, 200,000 dollars of assessment difference, your new homestead base is reduced by that amount, subject to the statutory caps and formulas.

This is a simplified illustration. Your actual numbers will depend on current market value, portability eligibility, and exemptions on your account.

Buyer checklist for Venice

Use this to prepare and avoid surprises:

• Look up the parcel in the Sarasota County Property Appraiser portal to confirm homestead status, market value, assessed value, and exemptions: Sarasota County property search.
• Ask for the last 2 to 3 years of tax bills and the latest TRIM notice. Remember that bills are issued November 1 and delinquent April 1.
• If the seller has owned the home a long time with homestead, expect a reset to market value after the sale. Ask the property appraiser or your title company for a post‑purchase estimate.
• Moving from another Florida homestead? File DR‑501 and DR‑501T by March 1 to request portability. Keep prior‑homestead documentation handy.
• Address tax risk in your contract. Many buyers agree to re‑prorate when the new bill is issued.
• File for your own homestead promptly if you intend to make the home your primary residence. SOH protections begin the next assessment year after you qualify.
• For edge cases, contact the Sarasota County Property Appraiser, a local title company, or a Florida real‑estate attorney.

When you want a calm plan and a clear path, guidance matters. If you are considering a move to Venice or across the Suncoast, reach out to Kandy Magnotti for concierge support that protects your goals and your time.

FAQs

What is Florida’s Save Our Homes and how does it protect me?

• Save Our Homes limits annual increases to a homesteaded property’s assessed value to the lower of 3% or CPI, which can slow tax growth once you have your homestead in place.

Does the seller’s Save Our Homes cap transfer to me when I buy in Venice?

• No, after a change of ownership the property is reassessed to market value for the next tax year, and your cap starts from your own homestead base once you qualify.

How does portability help if I am moving to Venice from another Florida home?

• If eligible, you can transfer up to 500,000 dollars of your assessment difference to your new homestead to reduce your starting assessed value, using Forms DR‑501 and DR‑501T by March 1.

When are Sarasota County property taxes billed and due?

• Tax bills go out November 1 with discounts for early payment, and unpaid bills become delinquent April 1 of the following year.

Why might my taxes rise even if the market softens after I buy?

• The recapture rule allows assessed value to rise by the SOH cap each year until it matches market value, which can produce increases even in a flat or soft market.