Luxury Real Estate Investing

How Much Does the Save Our Homes Cap Save on a South Florida Luxury Condo?

Q: How Much Does the Save Our Homes Cap Save on a South Florida Luxury Condo?

The savings compound over time based on market appreciation. For a luxury condo purchased in 2015 for $3 million that is now worth $8 million: without SOH, taxes are assessed on $8 million; with SOH (assuming 3% maximum annual cap), assessed value would be approximately $4 million — a difference of approximately $74,000 annually at Miami-Dade's effective 1.85% rate. Over 15 years, the total savings can exceed $500,000 for a property with strong appreciation.

By Haute Living Real Estate Editorial Team · Published May 25, 2026

The Save Our Homes savings on a South Florida luxury condo compound over time based on market appreciation.

For a luxury condo purchased in 2015 for $3 million that is now worth $8 million: without SOH, taxes are assessed on $8 million; with SOH (assuming 3% maximum annual cap), assessed value would be approximately $4 million — a difference of approximately $74,000 annually at Miami-Dade's effective 1.85% rate.

Over 15 years, the total savings can exceed $500,000 for a property with strong appreciation — and can approach or exceed $1 million on properties with the strongest market performance.

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