Property taxes are one of the biggest recurring costs of owning a home in Florida, and they work differently than in most states. There is no state property tax — every county sets its own millage rates, and Florida’s homestead exemption and the “Save Our Homes” cap can substantially change what you pay, especially over time. This guide explains how to read a Florida property tax bill and what home buyers should check before closing.
Last updated: September 2026.
How Florida Property Taxes Work
Every county’s property appraiser assigns each property a “just” (market) value as of January 1. From that market value, allowable exemptions are subtracted to get the taxable value. The taxable value is then multiplied by the combined millage rate from the county, city, school district, and any special districts to produce the annual bill. Because there is no state-level property tax in Florida, the total rate is the sum of local millage — and it varies a lot from one county (and city) to the next.
Florida’s Average Effective Rate
Florida’s statewide average effective property tax rate is below the national average — commonly estimated near 0.8% of market value, against a U.S. average near 1.0%. But that average hides a wide spread: aggregator 2026 estimates put effective rates across counties between roughly 0.6% and over 1.0%. Two $400,000 homes in different counties can carry meaningfully different tax bills. The practical takeaway: always estimate taxes at the specific address, not from a statewide headline.
The Homestead Exemption
The homestead exemption is Florida’s biggest tax break for owner-occupants. For the home you own and occupy as your primary residence, the first $25,000 of assessed value is exempt from all property taxes, and an additional exemption of up to $25,000 (applied to assessed value between $50,000 and $75,000) is exempt from non-school taxes. You apply through your county property appraiser, typically by March 1 of the year after you take up residence and occupy the home on January 1.
- Senior exemptions. Some counties add an additional exemption for homeowners 65 and older (commonly an extra $25,000 on top of the homestead exemption).
- Veteran and disability exemptions. Florida offers extra exemptions for certain disabled veterans and their surviving spouses; benefits can be substantial.
- Portability. If you have a Florida homestead and move to a new Florida home, you can transfer (port) some of your accumulated Save Our Homes savings to the new homestead.
The Save Our Homes Cap
Once a home has a homestead exemption, the “Save Our Homes” provision limits annual increases in the assessed value to 3% or inflation, whichever is lower. The result: a long-time owner’s taxable value can sit far below current market value. That is a huge tax advantage for the seller — and the reason a new buyer should never assume they will pay the seller’s current tax bill. On a change of ownership, the property is reassessed at market value, so a new buyer’s first-year bill is based on their purchase price, not the seller’s capped value.
What Home Buyers Should Verify
- The property appraiser’s estimate. Look up the address on the county appraiser’s site to see the current assessed value, exemptions, and estimated taxes.
- Your first-year bill. Because of reassessment on purchase, estimate taxes on your actual purchase price — not the current bill shown on the listing.
- The millage rate. Confirm the combined county/city/school/special-district millage for that address.
- Special assessments & CDDs. Some communities (especially new ones) add Community Development District (CDD) or special-assessment charges on top of the property tax bill.
- Homestead application. Budget the deadline and paperwork so you start collecting the exemption as early as you qualify.
Frequently Asked Questions
Are property taxes in Florida high?
On average, no — Florida’s effective rate is below the national average. But because home values vary so much by county, the dollar bill can be significant in high-value coastal counties. Check the specific address.
What is the homestead exemption worth?
It removes up to $50,000 of assessed value from most taxes (the first $25,000 from all taxes, plus up to $25,000 more from non-school taxes). On a home assessed at, say, $300,000, that can cut the tax bill meaningfully compared with no exemption.
Do I pay the seller’s property tax bill?
No. Assessed value resets to market value on a change of ownership. A new buyer’s first-year bill reflects the purchase price (minus any exemptions they qualify for), which is often higher than the seller’s capped bill.
Do senior homeowners get extra relief?
Yes — many Florida counties offer an additional exemption for homeowners 65 and older, and Florida also has a property-tax discount for seniors with income limits. Check your county appraiser’s site.
Related Guides
Sources
- Florida Department of Revenue — property tax administration, homestead exemption, and Save Our Homes rules.
- County property appraisers — assessed values, exemptions, millage rates, and per-address tax estimates.
- 2026 property tax rate summaries — statewide and county effective-rate context.