Like most states in the US, Florida charges property taxes too. Irrespective of the fact you own a residential property or commercial, taxes are levied on both property types across all counties in Florida. It is important to understand property taxes as they are an important part of closing costs and appear in the ALTA statement as well.
Generally, property Tax payments become payable November 1st and are due in full by March 31st of the following year. Discounts are applied for early payment: 4% if paid in November. 3% if paid in December.
Property Tax rates across counties in Florida:
Property taxes are paid as a percentage of the total value of the property owned. In Florida, property taxes are relatively cheaper and comes to 0.98% of the value of the property with some variations from one county to another. Here is the list of the median value of property taxes across all counties in Florida.
- Alachua County - $1,984
- Baker County - $867 -
- Bay County - $1,075
- Bradford County - $835
- Brevard County - $1,618
- Broward County - $2,664
- Calhoun County - $725
- Charlotte County - $1,780
- Citrus County - $1,021
- Clay County - $1,569
- Collier County - $2,399
- Columbia County - $1,147
- DeSoto County - $966
- Dixie County - $503
- Duval County - $1,500
- Escambia County - $1,135
- Flagler County - $1,702
- Franklin County - $726
- Gadsden County - $779
- Gilchrist County - $867
- Glades County - $970
- Gulf County - $898
- Hamilton County - $668
- Hardee County - $836
- Hendry County - $1,133
- Hernando County -$1,432
- Highlands County - $938
- Hillsborough County - $2,168
- Holmes County - $555
- Indian River County -$1,789
- Jackson County - $630
- Jefferson County - $978
- Lafayette County -$938
- Lake County -$1,757
- Lee County - $2,197
- Leon County -$1,743
- Levy County - $735
- Liberty County - $695
- Madison County - $736
- Manatee County - $1,973
- Marion County - $1,299
- Martin County - $2,315
- Miami-Dade County - $2,756
- Monroe County - $2,673
- Nassau County - $1,572
- Okaloosa County - $1,322
- Okeechobee County - $1,112
- Orange County - $2,152
- Osceola County - $1,887
- Palm Beach County -$2,679
- Pasco County - $1,363
- Pinellas County - $1,699
- Polk County - $1,274
- Putnam County - $813
- Santa Rosa County - $1,314
- Sarasota County - $2,095
- Seminole County - $1,945
- St. Johns County -$2,702
- St. Lucie County -$2,198
- Sumter County - $1,517
- Suwannee County - $753
- Taylor County - $774
- Union County - $785
- Volusia County - $1,713
- Wakulla County - $996
- Walton County - $831
- Washington County -$687
How to calculate property taxes in Florida?
Calculating the property tax for any county in Florida is easy. Simply use the following formula
Total property tax payable = (Property Value * rate of tax for the county)
--------------------------------------------------
100
So, if you are considering Alachua County with a property tax rate of 1.18% for a $300,000 dollar property. The tax payable will be
Total property tax payable = 300,000*1.18
----------------- = $3,540
100
It is necessary to pay property taxes in Florida?
Yes. In fact, there is a separate item in the mortgage statement, if you are paying one already. If you have no mortgage, then you can also pay online using your debit or credit card.
Are there any exemptions for property tax in Florida?
Yes, there are multiple laws in Florida that allow exemptions property tax exemptions. These are:
Homestead exemptions. Applies to permanent residents of Florida state who are entitled to exemptions for $50,000 value of their property.
Exemption for US Veterans/surviving spouse of veterans. Military personals who were deployed overseas can receive exemptions for the time they served on the battlefield. Spouses of martyred veterans are also eligible for property tax emotions.
Surviving spouse of First Responders. If you were a spouse of a first responder who was killed in the line of duty, you are entitled to receive the property tax exemption.
Physical Disability. Veterans who are fully or partially disabled due to action and other people who are permanently disabled are also entitled to receive property tax exemptions.
How to find property tax records for Florida?
Finding property tax information for Florida is very easy as it is for other states. There are many websites where you can enter the property details and county to find the details. propertyshark.com is a reliable site that allows you to search tax details for properties across Florida.