Florida does have property tax, but not at the state level. The state constitution prohibits a state property tax, so every dollar you pay goes to local governments: your county, your city if you live in one, the school board, and various special districts. Combined bills average about 0.78% of a home’s market value, and because Florida charges no state income tax, property taxes and sales taxes carry most of the load for funding local services like schools, fire departments, and road maintenance.
The rules that follow apply to residential property owners. Rates, exemptions, and even some optional programs vary by county and city, so your actual bill depends on where the property sits.
How Your Tax Bill Gets Calculated
Every property in Florida is valued as of January 1 each year by the county property appraiser. Two numbers come out of that process. “Just value” is essentially fair market value. “Assessed value” starts at just value but can be lower if an assessment cap applies. Assessed value is the figure that drives your bill.
From assessed value, subtract any exemptions you qualify for. What’s left is your taxable value. Local taxing authorities each apply a “millage rate” to that taxable value, where one mill equals $1 of tax for every $1,000 of taxable value.1Florida Department of Revenue. A Florida Homeowner’s Guide: Millage Your total millage rate is the sum of what the county commission, school board, city, and any special districts each set for the year. A property with $200,000 in taxable value taxed at a combined 18 mills owes $3,600 in ad valorem taxes.
Non-Ad Valorem Assessments
Your annual bill also carries charges that have nothing to do with property value. These non-ad valorem assessments are flat fees for services like stormwater management, solid waste collection, and fire rescue. They show up on the same bill as your property taxes but are calculated per lot or per unit. They can add several hundred dollars a year, and exemptions and assessment caps do not reduce them.
The Homestead Exemption
The homestead exemption is the single most valuable tax break for Florida homeowners. If you own your home and make it your permanent residence by January 1, you can reduce your taxable value by up to $50,000.2Florida Department of Revenue. Property Tax Information for Homestead Exemption It works in two parts:
- The first $25,000 applies to all property taxes, including school district levies. Any homesteaded property with at least $25,000 in assessed value gets the full benefit.
- The second $25,000 applies only to assessed value between $50,000 and $75,000, and it does not reduce school district taxes. If your assessed value is $50,000 or less, you don’t receive this second portion.2Florida Department of Revenue. Property Tax Information for Homestead Exemption
Florida voters approved Amendment 5 in November 2024, adding an annual inflation adjustment to that second $25,000 portion. When the CPI change is positive, the exemption amount rises above $25,000, shielding slightly more of your taxable value from non-school levies.3Florida Department of Revenue. Constitutional Amendment 5 Annual Inflation Adjustment to Homestead Exemption Value The adjustment took effect for the 2025 tax year.
File your initial application (Form DR-501) with your county property appraiser by March 1 of the tax year.2Florida Department of Revenue. Property Tax Information for Homestead Exemption If you miss that date, Florida law lets appraisers accept late initial applications, and many counties take them through mid-September with proof you qualified as of January 1. You can also file a late petition with the Value Adjustment Board. Once granted, most counties renew the exemption automatically as long as you keep living in the home.
Save Our Homes: The Assessment Cap
Homestead brings a second, longer-term benefit. Under a constitutional provision called Save Our Homes, the annual increase in your assessed value is capped at 3% or the change in the Consumer Price Index, whichever is lower.4Florida Department of Revenue. Save Our Homes Assessment Limitation and Portability Transfer If the market jumps 15% in a year, your assessed value still moves by no more than the capped amount.
Over time, a gap opens between your assessed value and actual market value. That gap is your SOH benefit, and it can be worth tens of thousands of dollars in avoided taxes for long-term owners. If market value drops below your assessed value, the appraiser must lower the assessed value to match.5FindLaw. Florida Code 193.155 – Homestead Assessments The cap resets to full market value when the property changes hands or loses its homestead exemption.
Portability When You Move
If you sell your Florida homestead and buy another one, you can transfer all or part of your Save Our Homes benefit to the new home, up to $500,000.4Florida Department of Revenue. Save Our Homes Assessment Limitation and Portability Transfer You have three years from January 1 of the year you left your old homestead to establish a new one and claim the transfer.
Buying a more expensive home lets you move the full SOH benefit dollar-for-dollar, up to the $500,000 cap. If your old home had a $100,000 gap between market and assessed value, the new home’s assessed value drops by $100,000.5FindLaw. Florida Code 193.155 – Homestead Assessments Buying a less expensive home transfers a proportional share instead. The ratio is the new home’s market value divided by the old home’s, applied to the old assessed value. You still save, but the transferred benefit shrinks.
To claim portability, file Form DR-501T along with your homestead application by March 1. People routinely forget this step when moving within Florida, and skipping it can cost thousands a year.
Second Homes, Rentals, and Vacant Land
Rental properties, second homes, and vacant residential land with nine or fewer units get their own assessment cap. Annual increases on these properties are limited to 10%.6Florida Legislature. Florida Statutes 193.1554 – Assessment of Nonhomestead Residential Property Unlike homestead, this cap kicks in automatically without an application. It resets to full market value on sale or when a homestead exemption is filed. Commercial property and residential buildings with more than nine units get no cap protection.
Other Exemptions Worth Knowing
Beyond standard homestead, Florida offers additional relief for specific groups. All of these require an application with the county property appraiser.
Homeowners 65 or older with household income at or below $38,686 (the 2026 threshold) may qualify for an additional exemption of up to $50,000 on their homesteaded property.7Florida Department of Revenue. Two Additional Homestead Exemptions for Persons 65 and Older A more generous version can exempt the entire assessed value for long-term residents who are 65 or older, have lived in the home for at least 25 years, and own a home with a just value under $250,000. Both depend on the local government adopting them by ordinance, so availability varies.
Florida residents who are totally and permanently disabled, blind, or a surviving spouse of a qualifying individual can receive a $5,000 exemption on taxable value.8Florida Department of Revenue. Other Property Tax Benefits Brochure Disabled veterans with service-connected disabilities may qualify for larger reductions depending on the degree of disability, and some totally disabled veterans receive a full exemption from property taxes.
The Annual Calendar and Early-Payment Discounts
The tax year follows a predictable schedule.9Florida Department of Revenue. Florida Property Tax Calendar Assessments are set January 1. By late August you’ll receive a Notice of Proposed Property Taxes, commonly called the TRIM notice. It shows your assessed value, exemptions, proposed millage rates, and the dates of public budget hearings. It’s not a bill. It’s a preview.
Actual bills go out around November 1, and the full amount is due by March 31 of the following year.10Florida Senate. Florida Code 197.333 – When Taxes Due; Delinquent Florida rewards paying early with a sliding discount:11Florida Senate. Florida Statutes 197.162 – Tax Discount Payment Periods
- November: 4% discount
- December: 3% discount
- January: 2% discount
- February: 1% discount
- March: no discount, full amount due
On a $4,000 bill, paying in November saves $160.
If You Don’t Pay
Taxes become delinquent on April 1, or 60 days after the original tax notice was mailed, whichever is later.10Florida Senate. Florida Code 197.333 – When Taxes Due; Delinquent Once delinquent, the county charges 18% annual interest, with a minimum charge of 3%.12Florida Senate. Florida Code 197.172 – Interest Rate; Calculation and Minimum
The county holds a tax certificate sale each year, typically in June, where investors pay your delinquent taxes in exchange for a certificate that earns interest until you repay.13Florida Senate. Florida Code 197.432 – Sale of Tax Certificates for Unpaid Taxes Two years after the delinquency date, a certificate holder can apply for a tax deed, which triggers a public auction of the property. If no one redeems the taxes before that auction, you can lose your home. The process from missed payment to potential property loss spans roughly two to seven years, but the costs compound and the legal machinery moves forward regardless of circumstances.
Challenging Your Assessment
If you believe your assessed value is too high or an exemption was wrongly denied, start informally. Contact your property appraiser’s office after receiving the TRIM notice. Their staff will review your evidence and can often resolve disputes without a formal proceeding. Most successful challenges happen here.
If that doesn’t work, file a formal petition with the Value Adjustment Board within 25 days of the TRIM notice being mailed.14Florida Department of Revenue. Value Adjustment Board Calendar The VAB is an independent panel that hears disputes over valuations and exemption denials. It cannot change millage rates, which are set by elected officials through the budget process. Bring comparable sales or an independent appraisal. Filing fees typically range from $15 to $50 depending on the county.