Overview of Florida Taxes
Property taxes and property tax rates in Florida rank near or below the national average. The Sunshine State’s average effective property tax rate is 1.02%, slightly lower than the U.S. average.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
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Jennifer Mansfield, CPA, JD/LLM-Tax, is a Certified Public Accountant with more than 30 years of experience providing tax advice. SmartAsset’s tax expert has a degree in Accounting and Business/Management from the University of Wyoming, as well as both a Masters in Tax Laws and a Juris Doctorate from Georgetown University Law Center. Jennifer has mostly worked in public accounting firms, including Ernst & Young and Deloitte. She is passionate about helping provide people and businesses with valuable accounting and tax advice to allow them to prosper financially. Jennifer lives in Arizona and was recently named to the Greater Tucson Leadership Program.
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Florida Property Taxes
Property taxes and property tax rates in Florida rank near or below the national averages. The Sunshine State’s average effective property tax rate is 1.02%, slightly lower than the U.S. average. The typical homeowner in Florida pays $1,702 annually in property taxes, although that amount varies greatly between counties.
There are a number of laws that limit the taxes due on owner-occupied homes in Florida. For example, the Save Our Homes assessment limitation caps increases in assessments for property taxes at 3% annually. Below, we’ll take a closer look at that and other Florida property tax rules.
How Do Florida Property Taxes Work?
The first step in the Florida property tax process is property appraisal, the act of placing a value on a property. Every county in Florida has a property appraiser, an elected official who is responsible for the annual appraisal of every lot in the county. In general, this person does this through a mass appraisal, or a systematic analysis of market data in order to assign values to multiple properties at once.
It is a good idea for homeowners to review their annual Truth in Millage (TRIM) notice, which declares their home’s appraised and assessed value. If the appraised value is too high (higher than what you could get by selling your home), you can file an appeal to the county adjustment board. It’s important to act quickly, however, because you have only 25 days to file an appeal.
Property tax rates are applied to the assessed value, not the appraised value, of a home. Assessed value takes into account exemptions, as well as the Save Our Homes assessment limitation.
The most widely claimed exemption is the homestead exemption, which you can claim on owner-occupied residences to protect the value of the home from property taxes, creditors and challenges that arise from the death of a homeowner spouse. It frees the first $25,000 of the home’s assessed value from all property taxes. It also exempts the assessed value between $50,000 and $75,000 from non-school property taxes. This can be a bit confusing, so here’s an example.
Let’s say you have a home with an assessed value of $80,000. The first $25,000 would be exempt from all property taxes. The next $25,000 (the assessed value between $25,000 and $50,000) is subject to taxes. The next $25,000 (the assessed value between $50,000 and $75,000) is exempt from all taxes except school district taxes. The remaining $5,000 in assessed value is taxable.
The end result is that the homestead exemption reduces assessed value by $25,000 for school taxes and by $50,000 for all other types of property taxes.
Homeowners who receive the homestead exemption also benefit from the Save Our Homes assessment limitation, which caps increases in assessed value at 3% or the rate of inflation, whichever is lower. So even if you own a home in a hot housing market, your taxes won’t skyrocket (unless one of your local government bodies increases rates).
Want to learn more about your mortgage payments? Check out our mortgage loan calculator.
Florida Property Tax Rates
Property taxes in Florida are implemented in millage rates. A millage rate is 1/10th of a percent, so $1 in taxes for every $1,000 in home value. A number of different authorities, including counties, municipalities, school boards and special districts, can levy taxes.
The table below shows the average payment and effective tax rate for every county. The effective tax rate is the median annual tax payment as a percentage of median home value. It can help compare tax burdens between counties and even between states, as it reflects actual payments and incorporates differences in assessments and exemptions.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
Property taxes are just one of the many things to consider when purchasing a home. If you are looking to refinance an old mortgage or to get a new one, you’ll want to look at SmartAsset’s Florida mortgage guide for information like current mortgage rates in the Sunshine State. Also, be sure to check out SmartAsset's guide to the best banks in Florida.
Miami-Dade County is the southernmost county in the mainland U.S. and home to some of the most beautiful beach-front property in the world. So how are the area’s property taxes? The county has the eighth highest effective property tax rate in the state at 1.12%. That is slightly higher than the national average.
Total millage rates in Miami-Dade range from under 17 mills in rural areas to nearly 26 mills in Biscayne Park and Opa-locka. In the city of Miami, the total millage rate is 21.8256. The largest single source of property taxes are school districts. In Miami, for example, the school district tax accounts for about a third of the total millage rate.
Broward County sits north of Miami-Dade and contains the cities of Fort Lauderdale and Hollywood, among others. It has the sixth highest average effective property tax rate of any Florida county at 1.19%. The typical homeowner in Broward County pays $2,398 annually in property taxes, about $700 more than the state average.
While Palm Beach County contains lots of nice real estate, it does have hefty property taxes. Palm Beach County’s average effective property tax rate is 1.18%, higher than all but six other Florida counties. The median real estate tax payment is also third highest in the state at $2,624 per year.
In parts of Palm Beach County, millage rates exceed 24 mills. In the city of West Palm Beach, the 2014 millage rate is 21.9477 mills.
Hillsborough County contains the city of Tampa and has a population of more than 1.3 million people. Property tax rates in Hillsborough County are almost slightly above the state averages. The average effective tax rate in Hillsborough County is 1.06%, a little bit higher than the state average of 1.02%.
The typical homeowner in Orange County pays $1,901 annually in property taxes. That’s about $200 more than the average state resident. You can find the highest property tax rates in the Orange County in the Reedy Creek Improvement District (RCID), which was originally created to support the construction of Walt Disney World.
The total millage rate in the RCID, which covers parts of Orange and Osceola Counties, is 26.4238 mills. In Orlando, Orange County’s largest city, the millage rate ranges from 19.2019 up to 20.2845 mills.
Pinellas County sits between Old Tampa Bay and the Gulf of Mexico and has property taxes well below both state and national averages. The typical homeowner in Pinellas County pays just $1,510 per year in taxes on real estate. That’s $200 less than the state average and $500 less than the national average.
Tax rates in the county are likewise relatively low. The average effective tax rate in Pinellas County is just under 1%. In the largest cities, St. Petersburg and Clearwater, the most recent millage rates are 23.8820 and 21.0549, respectively.
The average effective property tax rate in Duval County is 1.01%. This means that the typical Duval County homeowner can expect to pay about 1% of his home value in property taxes every year. So, for example, if your home has a market value of $150,000 (close to the county’s median value) you may be paying close to $1,500 annually in real estate taxes.
Of course, the exact numbers depend on your local millage rate, as well as whether or not you claim any exemptions. In Jacksonville, the largest city in the county, the most recent millage rate is 18.2313 mills.
Lee County is in Southwest Florida along the Gulf Coast. It has the nineteenth highest effective property tax rate in the state at 1.03%. The median annual real estate tax payment in Lee County is $1,759. That's about $60 more than the statewide median.
The median home value in Polk County, which sits between Tampa and Orlando, is $110,400. That is about $55,000 less than the statewide median home value. As a result real estate taxes are also lower in absolute terms. The typical Polk County homeowner pays just $1,053 in annual real estate taxes. However, property tax rates in Polk County are close to the state average. The county’s average effective property tax rate is 0.95%.
The tenth most populous county in Florida is Brevard County. Property taxes in Brevard County are somewhat lower than the state and national averages. The county’s average effective property tax rate ranks as the 33rd highest in the state, at 0.94%. The statewide average is 1.02%.
Property Tax: Which Counties are Getting the Best Bang for Their Buck
SmartAsset’s interactive map highlights the places across the country where property tax dollars are being spent most effectively. Zoom between states and the national map to see the counties getting the biggest bang for their property tax buck.
Our study aims to find the places in the United States where people are getting the most for their property tax dollars. To do this we looked at school rankings, crime rates and property taxes for every county.
As a way to measure the quality of schools, we analyzed the math and reading/language arts proficiencies for every school district in the country. We created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. Within each state, we assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.
For each county, we calculated the violent and property crimes per 100,000 residents.
Using the school and crime numbers, we calculated a community score. This is the ratio of the school rank to the combined crime rate per 100,000 residents.
We used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
Finally, we calculated a tax value by creating a ratio of the community score to the per capita property tax paid. This shows us the counties in the country where people are getting the most bang for their buck, or where their property tax dollars are going the furthest.
Sources: US Census Bureau 2017 American Community Survey, Department of Education, Federal Bureau of Investigation, State Police or Justice Department websites