The state of Florida has some of the highest property taxes in the country, with a median effective tax rate of 1.14%, compared to the national average tax rate of 1.02% for the rest of the nation. If your Florida property tax burden is too high, there are steps you can take to lower it and save money.
Property Taxation in Florida
Local government entities determine Florida property taxes. County property taxes fund public works, schools, and police and fire departments. Tax rates known as millages are based on local budgetary needs and vary from county to county. Millage rates are expressed as dollars assessed for each $1,000 of property value in an area.
Example: One mill is equivalent to one dollar per $1,000 of assessed property value.
So, how much are property taxes in Florida?
The assessed value of your home determines your annual property tax liability. County appraisers annually determine the market value of homes in Florida. The appraisal process occurs by January 1 of the upcoming tax year. Property values in Florida are based on annual assessed value, not purchase price.
Property taxes in Florida are calculated by adding millage rates for each local taxing entity to come up with an effective property tax rate. The median effective property rate in Florida is 1.14%. Multiply the effective property tax rate by the assessed value of your property to determine how much you owe.
Example: A home valued at $950,000 x 1.14% is assessed an annual property tax bill for $10,830.
Unless you pay your taxes through an escrow account attached to your mortgage, Florida taxes are due between November 1 and March 3, depending on the county where you reside. It is essential to pay close attention to tax due dates to avoid incurring late fees or penalties. Some counties offer early payment discounts between 1% and 4% for timely homeowners.
Save Our Homes Amendment Explained
Save Our Homes is a 1995 amendment to the Florida state constitution. It capped Florida homestead property value increases to no more than 3% in any given year for residents using a property as their primary residence.
Florida vacation or rental property owners also qualified for property tax relief beginning in 2008. Florida Constitutional Amendment 1 was approved by voters and capped property tax increases on non-residential properties to no more than 10% annually. Non-Homestead Assessment limitations can only be used for non-school board-assessed taxes. If you own a vacation or rental property in Florida, the limitations don't apply to tax rates levied by local school boards.
Florida Property Tax Exemptions
Florida also offers several additional property tax exemptions. These property tax cuts reduce the taxable amount of your home, lowering your tax liability. For example, a home valued at $950,000 with a $50,000 tax exemption is only taxed on $900,000 of assessed value.
Ownwell can help you apply for homestead exemptions for that year and retroactively for up to two years across Florida. Find out how to save with these tax benefits and who is entirely exempt from paying property taxes in Florida:
Exemption | Savings | Who Qualifies |
|---|---|---|
Homestead Exemption | Up to $50,000 The first $25,000 applies to all taxes, while the remaining $25,000 only applies to non-school taxes. | Primary residential homeowners. |
Widow(er) Exemption | $5,000 | Widows and widowers married at the time of a spouse's death who don't remarry. |
Senior Citizen Exemption | Up to $50,000 additional exemption on top of homestead exemption. | Residents 65 and older living in certain cities and counties with a gross annual income below $20,000 in 2001 dollars, adjusted for inflation. |
Blind Persons Exemption | $5,000 | Legally blind Florida residents. |
Total & Permanent Disability Exemption | Exempt from all Florida property taxes. | Quadriplegics using property as their homestead, wheelchair users, and legally blind Florida residents with a gross annual income less than $14,500 in 1991 dollars, adjusted for inflation. |
Veterans Exemption | $5,000 | Honorably discharged Florida veterans with a 10% or higher war or service-connected disability rating or a surviving spouse of a qualifying Florida veteran. |
Deployed Military Members Exemption | Exemption is based on the percentage of time deployed over the past year. | Military members residing in Florida who were deployed in the last calendar year. |
The Impact of Florida's 2024 Amendment 5
Recent trends in Florida property tax bills have sought to offer residents further property tax cuts. Residents passed Amendment 5 in November 2024. The new law was enacted on January 1, 2025, and provides annual inflationary adjustments for homestead exemptions on non-school property taxes.
For example, if the annual inflation rate is 5%, the value of the homestead exemption increases by $1,250 ($25,000 x 0.05) for a total non-school homestead exemption of $26,250. Note that the state will determine inflation based on the change in the Consumer Price Index (CPI) percentage.
House Bill 1371: Potential Elimination of Property Taxes
Florida House Bill 1371 studied the idea of eliminating all property taxes in Florida. Although the study was completed in February 2025, such action would require a voter-approved constitutional amendment; therefore, the earliest the idea could be acted upon is during the 2026 Florida election cycle.
Our CEO, Colton Pace, has weighed in on HB 1371:
Eliminating property taxes would certainly make Florida an even more attractive destination for homeowners, especially retirees and second-home owners relocating from high-tax states... However, the decision to move isn’t solely about property taxes — it depends on how Florida would replace the lost revenue. The state would have to increase sales taxes or add an income tax.
Governor Ron DeSantis is a proponent of the idea, which he says would save Florida homeowners money. Critics of the bill point to the $55 billion shortfall in local government and school district funding that it would create.
Proposed Alternatives to Property Taxes
Florida doesn't have a personal income tax, so the majority of the state's funding comes from local property taxes. Lawmakers have suggested increasing Florida's sales tax, reenacting taxes on intangible property, upping taxes on luxury services and goods, and introducing a mansion tax as alternatives.
Navigating Property Tax Changes
Ensure you're taking advantage of the tax savings benefits available to you. Stay up-to-date with local and state tax laws and engage in strategic financial planning.
Florida portability benefits can also lower property tax assessments by allowing you to transfer up to $500,000 of your accumulated Save Our Homes assessment difference from a previous residential property when you move.
Other Tax Considerations for Florida Homeowners
You may save even more by taking advantage of homeowner tax deductions. Consult an income tax professional to learn whether you qualify for:
Mortgage interest deduction
Property tax deduction
Home office deduction
Energy efficiency credits
Mortgage points
Capital gains exclusion
Maximizing Savings Amid Tax Changes
Ignoring an inaccurate property valuation is one of the most expensive mistakes homeowners make when it comes to saving on property taxes. If you believe your Florida property assessment is wrong, you have the right to appeal it.
In Florida, the burden of proof for overassessment falls on the homeowner. Thus, it is up to you to convince the Value Adjustment Board (VAB) that your property has been inaccurately assessed.
Enlist the help of our local property tax consultants and our advanced software at Ownwell to navigate property tax changes effectively.
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