Florida Property Taxes
Florida's property tax system is run at the county level, with two important homeowner-friendly features: a $50,000 homestead exemption and the Save Our Homes 3% annual assessment cap. Effective rates are middle-of-the-pack nationally — well below NJ and IL, and roughly comparable to GA.
Each Florida county sets its own millage rate. Total millage typically runs 16–22 mills (1.6–2.2%) before the homestead exemption and other adjustments. Effective rates after exemptions are lower for most owner-occupants.
The homestead exemption removes $50,000 from assessed value for owner-occupied primary residences ($25,000 applies to school taxes, the second $25,000 does not). It also activates Save Our Homes.
Save Our Homes caps the annual increase in assessed value at 3% (or CPI, whichever is lower). For long-held primary residences, this can produce dramatic differences between market value and assessed value over time.
Portability: a homestead owner who moves within Florida can transfer the Save Our Homes "savings" (the gap between market and assessed value) to a new primary residence, up to $500,000.
Counties with the highest absolute property-tax bills: Miami-Dade, Palm Beach, Collier (Naples), Sarasota — driven by high home values rather than high millage. Counties with the highest millage rates: typically panhandle and rural-north counties; absolute bills are still small because home values are low.
Frequently asked questions
How does the homestead exemption work in Florida?+
The first $25,000 of assessed value is exempt from all property tax for an owner-occupied primary residence. The next $25,000 (between $50,000 and $75,000 of assessed value) is exempt from non-school taxes. File Form DR-501 with the county property appraiser by March 1 of the year you claim the exemption.
What is Save Our Homes in Florida?+
A constitutional cap that limits the annual increase in *assessed* value of a homesteaded primary residence to 3% per year (or CPI if lower). Market value can rise faster, but tax is calculated on the capped assessed value.