Principle: 10% per year, school taxes excluded
- Adopted: 2008 Amendment 1, ratified January 29, 2008. Permanent since 2018 referendum (Amendment 2).
- Annual cap: 10% on prior-year AV, or JMV, whichever lower.
- Applies to all non-school taxes: county, city, water management, fire, library, CDD, etc.
- Absolute exclusion: school taxes (school district). For those, school AV = JMV each year.
- Effective: January 1 of the year following the first year the property becomes eligible (first January 1 after non-homestead acquisition).
Worked example
Canadian snowbird example
Buys Naples condo 2020 at $400,000 (no homestead eligibility). Initial AV = JMV = $400,000.
For non-school taxes (10% cap):
- 2021: JMV $480K, AV capped at $440K (400 × 1.10).
- 2022: JMV $580K, AV capped at $484K (440 × 1.10).
- 2023: JMV $600K, AV capped at $532.4K.
- 2024: JMV $620K, AV capped at $585.6K.
- 2025: JMV $630K, AV capped at $630K (cap caught up to JMV).
For school taxes: school AV = JMV every year ($400K, $480K, $580K, $600K, $620K, $630K). No cap.
Cumulative benefit is meaningful in hot markets but well below SOH 3% on homestead.
Reset on sale
The 10% cap resets to zero at any change of ownership. Broad definition (F.S. §193.155(3) applied to non-homestead):
- Standard sale.
- Gift.
- Death of owner (except transfer to surviving spouse).
- Transfer into/out of an LLC or trust in some cases.
The year after the change, AV resets to JMV for the new owner. The 10% cap then restarts year by year.
Exception: surviving spouse who inherits keeps the accumulated cap.
Comparison: SOH 3% vs 10% cap
| Criterion | SOH 3% (homestead) | 10% cap (non-homestead) |
|---|---|---|
| Status required | USC or LPR + primary residence | None |
| Annual AV cap | 3% or CPI, lower | 10% |
| Applies to school taxes? | Yes | No |
| Application | Form DR-501 + DR-501T | Automatic (no form) |
| Reset | Sale (except portability) | Sale (except surviving spouse) |
| Differential transferable? | Yes (up to $500K, FL only) | No |
| Fits Canadian snowbird? | No (immigration status incompatible) | Yes (by default) |
§193.1555: commercial and non-residential
F.S. §193.1555 applies the same 10% cap to non-residential properties:
- Commercial (office buildings, retail).
- Industrial (warehouses, plants).
- Vacant non-agricultural land over 0.5 acre.
Same rules: 10% annual, school exclusion, reset on sale.
For Canadians who hold commercial or multifamily via LLC, the cap applies to the property, not the LLC. But sale of LLC shares can in some cases be interpreted as ownership change (consult a FL attorney).
VAB challenge possible
As for homestead, you can challenge JMV on a non-homestead property via VAB. See dedicated article.
The 10%-capped AV is automatically calculated by the PA — no separate petition needed to activate the cap. But if JMV itself is too high, you can challenge.
Formulaires officiels et pages de référence
Responsabilité du lecteur
Toujours utiliser la dernière version disponible sur le site officiel cité ci-dessous. Les seuils, taux et délais évoluent. CanadaFlorida ne se substitue pas à un professionnel licencié.
Every figure, rate, threshold, and deadline in this guide is drawn from a verifiable primary source listed at the bottom of the page. The article is updated whenever the underlying rules change, with a fresh review date stamped at the top.
Sources and references
Public sources verified as of the last review date (Florida Statutes, Florida Department of Revenue, Citizens, FEMA, DBPR).
- F.S. §193.1554 — Assessment of certain residential and non-residential real property. leg.state.fl.us/§193.1554
- F.S. §193.1555 — Assessment of certain residential and nonresidential real property. §193.1555
- Florida Constitution Art. VII §4 — Assessment limitations. flsenate.gov/Constitution
- Florida DOR — 10% Cap FAQ. DOR FAQ PDF