Property Valuation
In Florida, the 'Save Our Homes' (SOH) cap limits annual increases in the assessed value of a homestead property to:
A3% or the Consumer Price Index (CPI) change, whichever is LESS✓ Correct
B5% annually
C10% of the prior year's value
DThe full market value increase each year
Explanation
Florida's Save Our Homes assessment cap (Amendment 10, 1992) limits annual increases in the assessed value of homestead property to 3% or the change in the CPI, whichever is less. This provides long-term homeowners with significant property tax savings.
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