Florida Property Tax Calculator
Estimate your annual property tax, homestead savings, and 10-year Save Our Homes cap projection for any Florida home.
Estimated Annual Property Tax
$12,800
$1,067/month for escrow · 1.96% Effective tax rate on purchase price
| Year | Market Value | Assessed Value | Taxable Value | Annual Tax |
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Buying in Florida? Talk to a local agent
A South Florida agent will walk you through portability, assessment caps, and the tax exposure of any home you're considering — before you write the offer.
How Florida Property Tax Works
Millage Rate
Property tax is calculated by multiplying the property's taxable value by the total millage rate (expressed in thousandths of a dollar). Florida counties combine multiple millages — county, city, school district, and special districts — into one total rate. Miami-Dade averages ~21.5 mills, Broward ~19.5, and Palm Beach ~20.0 mills in 2025.
Homestead Exemption
Florida homestead exemption reduces a primary residence's assessed value by up to $50,000 for most taxing authorities (only $25,000 off school millage). To qualify, the home must be your permanent residence as of January 1. Typical savings: $700–$1,200 per year depending on county.
Save Our Homes (SOH) Cap
Once you claim homestead, the assessed value of your home cannot rise by more than 3% (or CPI, whichever is lower) in any year — even if market value doubles. The longer you own, the larger the gap between assessed and market value. Over 10 years of 6% market appreciation, the typical homesteaded owner saves tens of thousands in tax.
Portability
If you sell your Florida homestead and buy another within three years, you can port up to $500,000 of your SOH savings to the new home. This is a massive benefit for downsizing retirees and anyone relocating within Florida — ask your closing attorney to file Form DR-501T with the county appraiser.