Where did my portability savings from last year go, as nothing is listed this year in the portability box on my property record page and TRIM Notice?
A portability deduction is only posted to your property record the first year that you receive your new Homestead exemption. The portability savings from the first year form the basis of your new Save Our Homes value on a going forward basis and — in subsequent years — will rise or fall based upon market just value changes and the 3% cap, as your new Save Our Homes value has incorporated your portability savings. Our website and the TRIM Notices only display the specific amount of your pportability deduction during the first tax-year your portability is approved and deducted from your propertys value. When our website is updated to display subsequent year’s property values, your portability deduction is no longer shown independently because it is already factored into your new Save Our Homes value.
A portability deduction is only posted to your property record the first year that you receive your new Homestead exemption. The portability savings from the first year form the basis of your new Save Our Homes value on a going forward basis and — in subsequent years — will rise or fall based upon market just value changes and the 3% cap, as your new Save Our Homes value has incorporated your portability savings. Our website and the TRIM Notices only display the specific amount of your portability deduction during the first tax-year your portability is approved and deducted from your propertys value. When our website is updated to display subsequent year’s property values, your portability deduction is no longer shown independently because it is already factored into your new Save Our Homes value.
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