You've owned for years: what it's worth now

Long-time owners often have more equity than they think, and Florida's tax rules let you take some of your savings with you.

• Start with what your home is worth and what you'd keep after a flat-fee sale. That number tells you what's possible next.
• Save Our Homes has kept your assessed value low. Portability lets you carry up to $500,000 of those savings to your next Florida homestead within three years.
• Federal tax: if you've owned and lived in it for two of the last five years, you can generally leave out up to $250,000 of the gain ($500,000 for a married couple filing jointly). Your tax preparer can confirm.
• Buyers will ask about the roof's age and wind protection, because that sets their insurance quote. A wind mitigation report on hand helps.

See what your home is worthTalk it through with your broker

Sources: Florida Constitution Art. VII §4 and Florida Statutes §193.155 (portability); IRS Topic 701 (sale of your home); Florida Statutes §627.0629 (wind mitigation). Programs and rules change; check what's current. This is general information, not legal or tax advice.