Currently, property owners with a homestead exemption receive a benefit known as Amendment 10 or Save Our Homes cap. This Save Our Homes benefit works by limiting the increase of the assessed value of a home to a maximum of 3% regardless of any increase in market value.Under the new law, homeowners will be allowed to transfer this benefit to the next homestead property. This is called portability or a portable cap.  Qualified applicants are now able to transfer (or port) this Save Our Homes benefit up to $500,000, whether they are buying a more expensive or less expensive home. Click here for the both the Homestead Exemption and Portability application .  To help homeowners estimate these benefits, please visit the Portable Cap Calculator.