Relocation buyer guide
How assessments, millage rates, Homestead Exemption, Save Our Homes caps and portability work — and what they mean for your monthly budget before you move.
Tax rules, millage rates and exemption deadlines are set by Florida law and individual counties. Confirm current figures with the county property appraiser for the home you are considering. HomeIQ is not a tax advisor.
What to know
These six concepts explain why two identical homes can have very different tax bills — and why timing your move and homestead filing matters.
Each county property appraiser sets a market value as of January 1. The assessed value is that market value minus any exemptions. Local taxing authorities — the county, city, school board, and special districts — set millage rates. One mill is $1 of tax per $1,000 of assessed value. Your bill is the assessed value multiplied by the combined millage rate, divided by 1,000.
If the home is your permanent Florida residence as of January 1, you can claim a Homestead Exemption of up to $50,000 off the assessed value. The first $25,000 applies to all taxing authorities, including school taxes. The second $25,000 applies to non-school taxes. You must file with your county property appraiser, and the deadline is March 1.
Once you receive the Homestead Exemption, the annual increase in your home's assessed value is capped at the lower of 3% or the change in the consumer price index. This cap is why long-time Florida homeowners often pay far less tax than new buyers of similarly priced homes.
When you sell a homesteaded home and buy another Florida homestead, you can transfer the Save Our Homes savings to the new property, up to $500,000 of differential. The transfer must be filed with the new county property appraiser, and the rules differ when moving to a less expensive home.
Investment properties, second homes, and rentals do not get the 3% Save Our Homes cap. Instead, Florida limits annual assessed-value increases to 10% for non-homestead residential property. Commercial property is not protected by either cap.
Millage rates vary by county, city, and special districts such as CDDs or MSTUs. A home in an unincorporated area can pay a different amount than an identical home inside a city boundary. Always check the specific tax district before you budget.
Example
Numbers below are illustrative. Actual millage rates, exemptions and assessed values depend on the county, city and special districts for the specific property.
Calculation: $400,000 × 18 mills ÷ 1,000 = $7,200 per year, or about $600 per month before escrow adjustments. A lower assessed value, additional exemptions, or a lower millage rate would reduce this amount.
Common questions
Sources
Use these official sources to confirm deadlines, exemption amounts and millage rates for the county you are considering.
Next step
Taxes, insurance, HOA dues and flood coverage all affect what you can afford. One licensed local agent can help you compare true monthly costs across counties.
