A second home in Florida

A second home is taxed and insured differently from the one you live in.

• The homestead exemption is only for the home you live in, so a second home pays tax on its full assessed value. Its assessed value can still rise at most 10% a year.
• Many condos and HOAs limit short-term rentals. If renting it out matters, check the rules before you offer.
• Insurance depends on the roof, wind protection and flood zone, and can cost more for a home that sits empty part of the year. Get a quote early.
• Hurricane season runs June 1 to November 30. Plan who checks on the home when you're away.

Save homes to compareAsk your broker about rental rules

Sources: Florida Constitution Art. VII §4 (non-homestead assessment cap); Florida Statutes ch. 718 and 720 (condo and HOA rules); NOAA. Programs and rules change; check what's current. This is general information, not legal or tax advice.