Key Takeaways
- Florida has no state income tax but relies heavily on property taxes for local government funding
- The homestead exemption provides up to $50,000 reduction in assessed value for primary residences
- Save Our Homes limits annual assessment increases to 3% for homestead properties
- Property taxes are based on assessed value determined by the County Property Appraiser
- Tax certificates are sold for delinquent taxes and can lead to tax deed sales
Last updated: January 2026
Florida Property Taxes
Florida property taxes are a primary source of local government revenue. Understanding the tax system is essential for Florida real estate practice.
No State Income Tax
Key Fact: Florida has no state income tax. This makes property taxes and sales taxes more significant revenue sources.
Property Tax Assessment
County Property Appraiser
The County Property Appraiser determines property values:
| Function | Description |
|---|---|
| Assess value | Determine just (market) value |
| Apply exemptions | Homestead, other exemptions |
| Maintain records | Property ownership, values |
| Assessment date | January 1 each year |
Just Value vs. Assessed Value
| Term | Definition |
|---|---|
| Just value | Market value as of January 1 |
| Assessed value | Just value minus exemptions and caps |
| Taxable value | Assessed value minus exemptions |
Homestead Exemption
Standard Exemption
| Exemption | Amount |
|---|---|
| First exemption | $25,000 off all taxes |
| Additional exemption | $25,000 off non-school taxes |
| Total possible | $50,000 |
Eligibility
To qualify for homestead exemption:
| Requirement | Details |
|---|---|
| Primary residence | Must be permanent residence |
| Florida resident | As of January 1 |
| Ownership | Title in owner's name |
| Application | File with Property Appraiser |
Save Our Homes
The Save Our Homes amendment limits annual assessment increases:
| Feature | Limit |
|---|---|
| Annual increase cap | 3% or CPI, whichever is less |
| Applies to | Homestead properties only |
| Does NOT apply | When property is sold |
Portability
Homeowners can transfer ("port") their Save Our Homes benefit:
| Feature | Details |
|---|---|
| Maximum port | $500,000 of accumulated savings |
| Timeline | Must buy new home within 2 years |
| Location | Anywhere in Florida |
| Calculation | Proportional if new home is different value |
Reset on Sale
When property is sold:
- Assessment resets to just (market) value
- New owner starts fresh Save Our Homes accumulation
- Significant tax increase for new owner
Tax Collection
Tax Year Timeline
| Date | Event |
|---|---|
| January 1 | Assessment date |
| June | Values certified |
| September | Tax roll certified |
| November 1 | Taxes become due |
| March 31 | Taxes become delinquent |
Discounts for Early Payment
| Payment Month | Discount |
|---|---|
| November | 4% |
| December | 3% |
| January | 2% |
| February | 1% |
| March | 0% (full amount) |
Delinquent Taxes
Tax Certificates
If taxes are unpaid:
| Event | Timing |
|---|---|
| Tax certificate sale | June 1 |
| Investor buys certificate | Pays taxes, receives interest |
| Redemption period | 2 years |
| Tax deed application | After 2 years |
Tax Deed Sale
If not redeemed:
- Certificate holder applies for tax deed
- Property sold at public auction
- Proceeds pay taxes, surplus to owner
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Test Your Knowledge
What is the maximum annual assessment increase under Florida's Save Our Homes provision?
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D
Test Your Knowledge
What discount is available for paying Florida property taxes in November?
A
B
C
D