Why Closing Before December 31 Is So Important To Florida Buyers

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Why Closing Before December 31 Is So Important To Florida Buyers

Do You Know Why Closing By December 31 Can Dramatically Impact Florida Property Taxes?

Buying a home in Florida is exciting—but understanding how property taxes and exemptions work is just as important as getting to the closing table. The timing of your closing date, especially if it happens by December 31, can impact your property taxes for years to come.

In today’s video, I’ll explain how Florida property taxes work, review the homestead exemption, and why closing by year-end can put more money back into your pocket.

⭐ Why Closing Before December 31 Matters So Much in Florida

Florida’s property tax system is tied directly to ownership status as of January 1. This single date determines:

Homestead Exemption or Homestead Exemption Portability qualifications

Save Our Homes Cap timing

Your future property tax savings

If you close on or before December 31:

You are the owner on January 1 — which means:

✔ You can immediately file for Homestead Exemption or Homestead Exemption Portability
✔ Your assessed value is protected sooner by the Save Our Homes (SOH) Cap
✔ Your future tax bills will be lower

For many buyers, this can mean significant long-term savings.

If you close on or after January 1, you must wait an entire year before your can apply for the Florida Homestead Exemption.

Timing can be the difference between a manageable payment and a surprise increase.

Florida Property Tax Exemptions Every Buyer Should Know
1. Homestead Exemption

If your home is your primary residence as of January 1 you may qualify for:

$25,000 exemption on all property taxes

An additional $25,000 exemption on non-school taxes

Filing Deadlines: January 1 to March 1 of the year following the year you take ownership in.

Applications can be submitted online, by mail, or in person.

2. Save Our Homes (SOH) Cap

Once your Homestead is approved, Florida limits increases in your assessed value to:

3% per year, or

The CPI, whichever is lower

This protects homeowners from sharp tax increases—even when market values rise quickly.

When a home is sold, the exemption and SOH cap reset. This is why your first-year taxes may be higher than the seller’s.

3. Portability of Homestead Benefits

If you're moving from one Florida home to another, you may be eligible to transfer SOH benefits that have been accumulated to your new primary residence.

Portability can be a big factors towards lowering your property taxes.

⭐ Why Year-End Planning Matters — and Why Metroplex Is the Lender Realtors Trust

The timing of your closing can determine whether buyers unlock valuable tax savings. Partnering with a lender who understands both USDA guidelines and Florida property tax rules gives your buyers a major advantage.

Why Florida Buyers and Realtors Choose Metroplex Mortgage Services

Metroplex Mortgage Services is officially recognized by USDA Rural Development as:

Florida’s #1 Ranked USDA Lender

Awarded in 2017, 2023, 2024, and 2025

A true USDA-approved lender (not a broker), providing full control from start to finish

A leader in fast USDA processing and smooth on-time closings

Highly trusted by Florida Realtors and first-time buyers statewide

When year-end deadlines matter, experience matters even more.

⭐ Why Year-End Florida Mortgage Planning Matters — and Why Metroplex Is the Lender Realtors Trust

The timing of your closing can determine whether buyers unlock valuable tax savings. Partner with a lender who understands both USDA guidelines, closing efficiency, and Florida property tax exemption timing to give your buyers a major advantage.

Why Florida Buyers and Realtors Choose Metroplex Mortgage Services

Metroplex Mortgage Services is officially recognized by USDA Rural Development as:

Florida’s #1 Ranked USDA Lender

Awarded in 2017, 2023, 2024, and 2025

A true USDA-approved lender (not a broker), providing full control from start to finish

A leader in fast USDA processing and smooth on-time closings

Highly trusted by Florida Realtors and first-time buyers statewide

When year-end deadlines matter, experience matters even more.

👉 Ready to Help Your Buyers Maximize Their Tax Savings?

As Florida’s #1 Ranked USDA Lender, Metroplex Mortgage Services is here to guide your buyers through every step—so they don’t miss out on valuable tax advantages tied to their year-end closing date.

👉 Call/Text: (863) 593-2001
👉 Toll Free: (800) 806-9836
👉 Email: [email protected]

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