Florida

What You Need to Know About Property Taxes in Florida

1. No State Property Tax in Florida

• Florida does not levy a state property tax.
• Property taxes are administered locally by counties, municipalities, school districts, and special taxing districts.

2. Property Tax Rates in Florida

• The average effective property tax rate is around 0.8% – 1.1%, lower than the national average.
• Actual rates vary widely by county and are set annually based on local budget needs.
• Most property tax revenue funds schools, infrastructure, and local services.

3. How Property Taxes Are Calculated

• Property taxes = (Assessed Value – Exemptions) × Millage Rate.
• Assessed Value = the just value of your property minus any assessment limits (like Save Our Homes).
• Millage Rate = dollars per $1,000 of taxable value.

4. Homestead Exemption in Florida

• The Homestead Exemption can reduce the taxable value of your primary residence by up to $50,000.
  • First $25,000 applies to all property taxes (including school taxes).
  • Second $25,000 applies to non-school taxes for assessed values between $50,000 and $75,000.
• You must file with your county property appraiser, usually by March 1 of the tax year.

5. Save Our Homes (SOH) Benefit

• A unique Florida rule that caps annual increases in assessed value for homestead properties at 3% or the change in the Consumer Price Index (CPI), whichever is lower.
• This protects long-term homeowners from sudden spikes in property taxes.
• The SOH cap is portable: you can transfer up to $500,000 of your SOH benefit to a new homestead in Florida.

6. Key Deadlines for Property Taxes in Florida

• January 1: Assessment date – property is valued as of this day.
• March 1: Deadline to file for exemptions (homestead, veterans, etc.).
• August: TRIM (Truth in Millage) notices are mailed, showing your proposed value and tax rate.
• September: Local taxing authorities hold budget hearings and set final millage rates.
• November 1: Tax bills are mailed; payment period begins.
• March 31 (following year): Property tax payment deadline.

7. Property Tax Discounts & Payment Options

• Early payment discounts are available:
  • 4% if paid in November
  • 3% if paid in December
  • 2% if paid in January
  • 1% if paid in February
• Full amount is due by March 31.
• Installment payment plans may be available through your tax collector’s office.

8. Exemptions & Special Programs

• Homestead Exemption (up to $50,000).
• Senior Citizen Exemption (additional benefits in some counties for low-income seniors 65+).
• Disabled Veterans Exemption.
• Widow/Widower Exemption ($5,000).
• Agricultural Classification (Greenbelt Law): Reduces taxes on land used for farming.

9. Appeals & Value Challenges

• If you disagree with your property’s assessed value, you can:
  • Informally discuss with your county property appraiser.
  • File a petition with the Value Adjustment Board (VAB), typically within 25 days of the TRIM notice mailing.
• Evidence may include comparable sales, appraisal reports, or condition issues.
• Many homeowners contact us, Icon, to assist with appeals.

10. Annual Property Tax Cycle

• Florida property taxes follow the calendar year (Jan 1 – Dec 31).
• Assessments are made early in the year, TRIM notices mid-year, and bills are issued in November.
• Staying on top of this cycle is key to managing your tax liability.

11. Learn More About Your Property

Search your property to unlock insights on assessments and discover potential tax-saving opportunities.