Thinking about buying in Aventura and wondering how Florida’s tax breaks really work? The homestead exemption, Save Our Homes cap, and portability can lower your property tax bill if you file on time and understand the rules. If you plan ahead, you can keep more of your money each year. This guide breaks down what applies in Miami‑Dade, key 2025 updates, timelines, and step‑by‑step actions so you can close with confidence. Let’s dive in.
Homestead basics in Aventura
The Florida homestead exemption reduces the taxable value of your primary residence. To qualify for a given tax year, you must own the property and use it as your permanent residence on January 1 of that year. The rules and amounts come from state law and county administration. You can review the statutory framework in Florida Statutes section 196.031 and the Miami‑Dade Property Appraiser’s guidance. See the statute and Miami‑Dade PA resources.
Save Our Homes cap
Save Our Homes limits how much your assessed value can increase each year once your homestead is in place. The cap is the lower of 3 percent or the change in the U.S. Consumer Price Index. For tax year 2025, the cap is 2.9 percent. This cap applies starting the year after you first receive the homestead exemption and can create a growing gap between market value and assessed value over time. View the 2025 cap update.
Portability: moving your tax savings
If you had a Florida homestead before, you may transfer part of your Save Our Homes benefit to your new Aventura homestead. The maximum portable amount is $500,000, subject to ownership shares and whether you are upsizing or downsizing. You file portability with Form DR‑501T, typically along with your homestead application, by the March 1 deadline. Learn how portability works and file with Miami‑Dade.
Upsizing example
- Old home just value 800,000. Old assessed value 500,000. SOH difference 300,000.
- New home just value 1,200,000 (greater than old).
- You can port up to the 300,000 difference (capped at 500,000). New assessed value starts at 1,200,000 minus 300,000 equals 900,000, before other exemptions.
Downsizing example
- Old home just value 1,000,000. Old assessed value 600,000. SOH difference 400,000.
- New home just value 800,000 (lower than old).
- Portability uses a percentage: old assessed divided by old just equals 600,000 divided by 1,000,000 equals 60 percent. Apply 60 percent to the new just value: 800,000 times 60 percent equals 480,000. The portable reduction is new just minus this result: 800,000 minus 480,000 equals 320,000. New assessed value starts at 800,000 minus 320,000 equals 480,000, before other exemptions. For more examples, see a county explainer on portability math. See portability examples.
2025 update: additional exemption indexing
Beyond the base homestead exemption, Florida law provides an additional homestead exemption for non‑school levies on assessed value above a base amount. A 2025 law change ties that amount to inflation, which Miami‑Dade illustrates with a 2025 threshold figure used in example calculations. Review the updated statute and county guidance each year, because the indexed amount can change. Read the statute update and Miami‑Dade’s additional exemption page.
Aventura tax context
Aventura has historically reported one of Miami‑Dade’s lower city operating millage rates. Recent reporting shows an operating millage around 1.7261 mills for FY 2024–2025. Always check your parcel’s TRIM notice for the combined millage from all taxing authorities, since your total tax bill depends on that combined rate. See local millage context and how TRIM notices work in Miami‑Dade.
What to do and when
Key dates to mark
- January 1: You must own and occupy as your permanent residence to qualify for that year.
- March 1: Deadline to file homestead (DR‑501) and portability (DR‑501T) with Miami‑Dade.
- July 1: Preliminary taxable values are certified to taxing authorities.
- Mid to late August: TRIM Notices mail with proposed values and rates.
- 25 days after TRIM mailing: Deadline to file a Value Adjustment Board petition if you plan to appeal.
Eligibility checklist
- You are the owner of record and use the property as your permanent residence on January 1.
- You are a U.S. citizen or permanent U.S. resident and can document Florida residency.
- You can provide acceptable proof, such as a Florida driver’s license or ID with the property address, Florida vehicle and voter registrations, and supporting documents as requested by the Property Appraiser. Review Miami‑Dade’s requirements.
How to file in Miami‑Dade
- Apply online, by mail, or in person with the Miami‑Dade Property Appraiser.
- File Form DR‑501 for homestead and add Form DR‑501T if you want portability.
- Track status and get forms in the county portal. Go to the PA portal.
Buyer scenarios and savings
Mid‑year purchase timing
If you buy an Aventura condo on April 15, 2025, you would not receive the 2025 homestead exemption because you did not own and occupy on January 1, 2025. You would file for the 2026 tax year instead, by March 1, 2026. See the statutory rule.
Estimating your tax savings
Your savings come from three places: the homestead exemption, any Save Our Homes gap you port, and the combined millage on your TRIM notice. Example: if portability lowers your assessed value by 300,000 and your combined millage were 20 mills (example only), your estimated tax reduction would be about 6,000 for the year. Use your actual TRIM notice to plug in the real rates. Learn about TRIM timing.
Avoid common pitfalls
- Missing the March 1 filing deadline for homestead and portability.
- Forgetting to abandon your prior homestead if you need portability to apply to the new one.
- Ignoring the August TRIM notice and missing the 25‑day VAB appeal window.
- Not gathering proof of Florida residency and ownership before filing.
Buying or moving within Aventura is easier when your tax plan matches your closing timeline. If you want a tailored game plan for homestead, Save Our Homes, and portability around your next purchase, reach out to The Baron Agency for a private consultation.
FAQs
What documents do I need to file homestead in Miami‑Dade?
- Common items include a Florida driver’s license or ID with your property address, Florida vehicle and voter registrations, and supporting residency documents the Property Appraiser requests. Review the county’s list before you file. See Miami‑Dade’s requirements.
How long does Save Our Homes protection last on my Aventura home?
- The cap applies each year after your homestead is established and continues as long as the property remains your homestead and ownership does not change in a way that resets the assessment.
Can non‑citizens qualify for a homestead exemption in Miami‑Dade?
- Miami‑Dade guidance notes you must be a U.S. citizen or a permanent U.S. resident and be able to document Florida residency to qualify. Check the county guidance.
Where do I track my application or appeal an assessment?
- Track your homestead or portability filing through the Miami‑Dade Property Appraiser’s portal, and use the Miami‑Dade Clerk’s Value Adjustment Board page to file and monitor an appeal. Go to the PA portal and VAB information.
Does Aventura’s low city millage guarantee a low total tax bill?
- Not necessarily. Your total property tax depends on the combined millage of all taxing districts shown on your TRIM notice, not only the city’s operating rate. See Miami‑Dade’s TRIM overview.
