Florida · Chapter 18 of 19
Taxes Affecting Real Estate
Immune and exempt property, homestead exemptions, Save Our Homes, computing property tax, tax appeals, the Green Belt Law, special assessments, and income tax issues.
30-minute read · Built for the Sales Associate Exam
Ad Valorem Taxes and the Tax Calendar
Florida property taxes are ad valorem, based on value. The county property appraiser assesses property as of January 1 at just (market) value. In August the TRIM (Truth in Millage) notice shows proposed taxes. Local taxing authorities set millage; 1 mill = $1 per $1,000 of taxable value (0.001). Taxes are levied on the calendar year and paid in arrears: bills go out and are due November 1, with discounts of 4% in November, 3% in December, 2% in January and 1% in February; full amount in March; delinquent April 1. Tax rate example: a $30,000,000 budget / $2,000,000,000 taxable value = 0.015 = 15 mills.
Fla. Stat. §197.162
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