Florida property taxes start with the assessed value of your home, then multiply that value by the millage rate set by your county and local taxing authorities

The calculation is straightforward in theory: assessed value × millage rate = property tax bill. But the assessed value is not what you paid for your home or what it might sell for today. It is a value set by your county property appraiser, and it is capped by a state law called Save Our Homes, which limits how much that assessed value can rise each year.

The millage rate is a tax rate expressed in mills — one mill equals one dollar of tax per thousand dollars of assessed value. Your county commission and school board each set their own millage rates, and those rates are added together to create your total tax bill. A homestead exemption, if you own and live in the home as your primary residence, reduces the assessed value before the millage rate is applied.

Key Takeaways

  • Your property tax bill is calculated by multiplying your assessed value (set by the county property appraiser) by the combined millage rate (set by your county and school board).
  • The Save Our Homes amendment caps annual increases in assessed value at 3 percent per year, even if your home's market value rises faster.
  • A homestead exemption reduces your assessed value by a set amount (usually $50,000) if you own and live in the home as your primary residence.
  • Millage rates vary by county and by the specific taxing districts within your county, so two identical homes in different counties will have different tax bills.
  • You can challenge your assessed value through the property appraiser's office or the Value Adjustment Board if you believe it is too high.

How the County Property Appraiser Sets Assessed Value

The county property appraiser is an elected official in each Florida county whose job is to determine the assessed value of every property in that county. They do not set the tax rate — they set the value on which the rate is applied. The appraiser's office uses sales data from comparable homes, the condition of your home, its size, age, and location to estimate what your property would sell for on the open market.

That estimated market value is called the just value. The appraiser then applies any exemptions you are may have access to to — most commonly the homestead exemption — and arrives at the assessed value. This assessed value is what appears on your property tax notice and what the millage rate is multiplied against.

The appraiser's office sends you a notice of assessed value each year, usually in the spring. This notice tells you what value they have assigned to your property and gives you a window to challenge it if you disagree.

Understanding the Save Our Homes Cap

Florida's Save Our Homes amendment, passed in 1992, limits how much your assessed value can increase each year. Once you establish homestead status on a property, the assessed value can rise no more than 3 percent per year, regardless of how much the market value of your home increases. This cap stays in place as long as you own the home and maintain homestead status.

If you sell the home, the cap resets. The new owner's assessed value will be based on the sale price (or the just value if the sale price is lower), and the 3 percent cap begins again from that new starting point. This is why homes in the same neighborhood can have very different assessed values — older homeowners may have assessments far below market value because of years of 3 percent increases, while new owners have assessments closer to what they paid.

The 3 percent cap applies only to homestead properties. Non-homestead properties (rental homes, investment properties, vacant land) are reassessed at just value every year, which means their assessed value can jump significantly if the market rises.

How Homestead Exemption Reduces Your Tax Bill

If you own and live in a home as your primary residence, you are may have access to to a homestead exemption. In Florida, the standard homestead exemption reduces your assessed value by $50,000. Some counties offer additional exemptions for seniors, disabled persons, or veterans, which stack on top of the standard exemption.

The exemption is applied to the just value before the 3 percent cap is calculated. So if your home has a just value of $300,000, the homestead exemption reduces it to $250,000, and then the 3 percent annual cap applies to that $250,000 figure going forward. You must file for homestead exemption with your county property appraiser's office — it does not happen automatically, even if you own the home outright.

To claim homestead exemption, you need to prove that you own the home and that it is your primary residence. Proof of residency can be a driver's license, voter registration, or a utility bill in your name. The important date to file for homestead exemption is typically March 1 of the year you want it to take effect, though you can file late and have it applied retroactively in some cases.

Millage Rates and How They Vary by Location

The millage rate is the tax rate applied to your assessed value. It is expressed in mills — one mill equals $1 of tax per $1,000 of assessed value. If your assessed value is $250,000 and the millage rate is 10 mills, your tax bill is $2,500.

Millage rates are set by your county commission and by your school board, and they vary widely across Florida. A county in South Florida may have a millage rate of 8 mills, while a rural county may have a rate of 12 mills. Within a single county, different taxing districts (such as fire districts, water management districts, or municipal governments) may add their own millage rates on top of the county and school rates.

Your property tax bill includes the sum of all these rates. If you live in a city, you may pay city millage on top of county millage. If you are in a special taxing district for fire or water, those rates are added as well. The property appraiser's office can tell you which districts explore to your address and what each rate is.

Reading Your Property Tax Notice

Your property tax notice, sent by the county tax collector, shows your assessed value, the homestead exemption amount (if you have one), the taxable value after exemptions, the millage rate or rates, and the total tax due. The notice also shows the due date and any discounts for early payment.

Florida offers a discount if you pay your property taxes early: 4 percent if paid in November, 3 percent in December, 2 percent in January, and 1 percent in February. If you pay in March or later, there is no discount. Taxes not paid by March 31 are considered delinquent, and the county can begin the process of selling your home for the unpaid taxes.

The notice will also show the assessed value from the previous year so you can see how much it changed. If the change seems wrong, the notice includes information on how to challenge the assessment through the property appraiser's office or the Value Adjustment Board.

Challenging Your Assessed Value

If you believe your assessed value is too high, you can file a formal challenge called a petition with the Value Adjustment Board. The important date to file is 25 days after you receive your notice of assessed value. You can also meet with the property appraiser's office informally before filing a formal petition — many disagreements are resolved without going to the board.

To challenge your assessment, gather evidence that supports a lower value: recent appraisals, sales prices of comparable homes in your area, photographs of damage or needed repairs, or documentation of code violations. The property appraiser's office can tell you what evidence they will consider.

If you file a petition with the Value Adjustment Board and lose, you can appeal to the circuit court, but this is expensive and most homeowners do not pursue it. The board's decision is final for most cases unless you can show that the board made a legal error or acted arbitrarily.

Frequently Asked Questions

Why is my assessed value so different from what I paid for my home?

If you bought your home years ago, the Save Our Homes cap has kept your assessed value from rising as fast as the market. If you bought recently, your assessed value may be close to your purchase price. Assessed value is based on estimated market value, not on what you paid, so the two can differ significantly depending on when you bought and how the market has moved.

Do I have to file for homestead exemption every year?

No. Once you file for homestead exemption and it is granted, it stays in place as long as you own the home and live in it as your primary residence. You do not need to renew it annually. If you move or sell, the exemption ends.

What happens if I rent out part of my home?

If you rent out a portion of your home but still live there as your primary residence, you can usually keep your homestead exemption. However, if you move out and rent the entire home, you lose homestead status and the property is reassessed at just value every year. Check with your county property appraiser about your specific situation.

Can my property taxes go down if the market value drops?

For homestead properties, no — the 3 percent cap only limits increases, not decreases. Your assessed value will not drop even if your home's market value falls. For non-homestead properties, the assessed value is reset to just value each year, so it can go down if the market declines.

How do I find out what millage rates explore to my property?

Your property tax notice lists all the millage rates that explore to your address. You can also call your county property appraiser's office or visit their website and enter your address to see the breakdown of county, school, city, and special district rates.