Property Taxes in Florida
Florida's effective property tax rate is 0.74%, ranking #21 out of 50 states (1 = lowest). The median annual property tax paid is $2,338.
Florida's property tax system revolves around the homestead exemption and the Save Our Homes Amendment. The homestead exemption removes up to $50,000 from your assessed value (the first $25,000 applies to all taxes, and an additional $25,000 applies to non-school taxes only). More importantly, the Save Our Homes cap limits annual assessment increases to 3% or CPI, whichever is lower — creating a powerful incentive for long-term ownership. When you purchase a new home, however, the assessment resets to full market value, which can create sticker shock compared to what the previous owner was paying.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Tax Foundation, U.S. Census
Tax Rate
0.74%
Median Annual Tax
$2,338
National Rank
#21 of 50
1 = lowest
Homestead Exemption
Yes
Annual Property Tax by Home Price
| Home Price | Annual Tax | Monthly |
|---|---|---|
| $200,000 | $1,480 | $123 |
| $300,000 | $2,220 | $185 |
| $400,000 | $2,960 | $247 |
| $500,000 | $3,700 | $308 |
| $750,000 | $5,550 | $463 |
* Based on the average effective rate of 0.74%. Actual rates vary by county and municipality.
Homestead Exemption in Florida
Unlimited value, up to 1/2 acre in city
File for the homestead exemption after purchasing your primary residence in Florida to reduce your assessed property value, lowering your annual tax bill. Contact your county assessor's office for the application.
How Florida Compares
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