Holding cost, not a slogan
A rental is not a homestead. The seller’s Save Our Homes 3%/CPI cap does not transfer. Year one, budget tax as just value × millage ÷ 1,000. The 10% non-homestead cap only limits later annual assessed-value increases (and not school millage).
· · Figures retrieved 2026-10-18 · Millage year 2025.
Ad valorem tax ≈ taxable value × millage ÷ 1,000. Millage is dollars per $1,000 of taxable value. Non-ad valorem assessments (garbage, fire fees, lighting) are extra and are not estimated here.
If Amendment 3 passes, the non-homestead assessment cap would fall from 10% to 5% for non-school assessed value. School taxes stay on just/market value. Rentals still get no homestead exemption.PCPAO. That is not automatically a lower bill if millage rises — see Amendment 3.
Illustration only: assumes just value equals $350,000 (the purchase-year reset). Actual millage is the tax code on the TRIM notice. BCC millage is the county operating rate, not the total.
County BCC operating millage is from Florida DOR, 2025 Maximum Millage Levy Calculation Compliance (MillCapComp25), dated 01-26-26. Brevard has no single unincorporated countywide total; 12.3894 is the first published TOTALS column on that sheet (range 10.0769–18.1121).
When ownership changes, Florida law requires the property appraiser to reassess at just (market) value as of January 1 following the sale and to drop the prior owner’s exemptions. Homestead Save Our Homes does not stay with the property. Sources: Fla. Stat. § 193.155 and § 193.1554(5); Lee County Property Appraiser 10% assessment FAQ.
The cap limits future annual assessed-value increases after the reset year. It does not keep the seller’s capped value. School millage is not limited by the 10% cap. Sources: Fla. Stat. § 193.1554; PCPAO on Amendment 3’s proposed 5% non-school cap.