Florida Property Tax Calculator — 2026 Rates, Save Our Homes Cap & Homestead Exemption
Property Tax Calculator
Annual & monthly tax · Escrow · Mill rate · All 50 US states avg rates — 2026
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Florida’s property tax system rewards long-term homeowners and punishes recent buyers — in the same way Michigan and California do, but through a different mechanism. Florida’s Save Our Homes cap limits annual assessment increases to 3% or CPI (whichever is lower) for homesteaded properties. In 2026, the cap rate is 2.7%. A homeowner who bought in 2010 and has the SOH cap may be paying taxes on an assessed value hundreds of thousands of dollars below current market value. Their neighbor who bought the same-valued home last year pays on the full market value.
The 2026 homestead exemption is $51,411 — $25,000 applying to all taxes including schools, plus $26,411 applying to non-school taxes only (inflation-adjusted annually under Amendment 5). The deadline to file is March 1, 2026 for the current tax year.
Florida Property Tax Rates by County — 2026
Florida has no statewide property tax rate. Every county, municipality, school district, and special district sets its own millage rate. One mill = $1 of tax per $1,000 of taxable value.
| County | Major City | Effective Rate (Approx.) | Median Home Value | Est. Annual Tax (homestead) |
|---|---|---|---|---|
| Miami-Dade | Miami | 0.85%–1.00% | $680,000 | $5,500–$7,200 |
| Broward | Fort Lauderdale | 0.90%–1.10% | $520,000 | $4,800–$6,000 |
| Palm Beach | West Palm Beach | 0.85%–1.05% | $530,000 | $4,700–$5,800 |
| Hillsborough | Tampa | 0.90%–1.10% | $400,000 | $3,800–$5,000 |
| Orange | Orlando | 0.85%–1.00% | $390,000 | $3,400–$4,200 |
| Pinellas | St. Petersburg | 0.85%–1.00% | $380,000 | $3,300–$4,100 |
| Duval | Jacksonville | 0.85%–1.00% | $310,000 | $2,700–$3,400 |
| Collier | Naples | 0.65%–0.80% | $680,000 | $4,000–$5,000 |
| Lee | Fort Myers | 0.80%–1.00% | $380,000 | $3,200–$4,000 |
| Sarasota | Sarasota | 0.80%–1.00% | $490,000 | $4,000–$5,200 |
Effective rates shown are on market value for newly purchased properties. Long-term homeowners with the SOH cap pay on a lower assessed value.
Note: Florida’s average effective rate (0.80% of market value) appears low nationally, but dollar amounts are high because Florida home values are well above the national median. A 0.85% rate on a $680,000 Miami home = $5,780/year.
How Florida Property Tax Works
The Three Values Every Florida Homeowner Has
1. Just (Market) Value: What a buyer would pay on the open market. This is the county property appraiser’s estimate of your home’s market value as of January 1.
2. Assessed Value: For homesteaded properties, this is your just value subject to the Save Our Homes cap. For non-homesteaded properties, assessed value is capped at 10% annual increase from the prior year.
3. Taxable Value: Assessed value minus your exemptions. This is the actual number multiplied by the millage rate to produce your tax bill.
The Save Our Homes (SOH) Cap — 3% / CPI Maximum
Florida’s Save Our Homes amendment limits annual increases in a homesteaded property’s assessed value to the lesser of:
- 3%, or
- The change in the Consumer Price Index (CPI)
2026 SOH cap rate: 2.7% (CPI was lower than 3%)
What this means for long-term owners: A homeowner who bought in 2015 for $300,000 in Tampa. By 2026, the market value has increased to $620,000. But the assessed value has only grown by 2.7% per year:
| Year | Market Value | SOH-Capped Assessed Value |
|---|---|---|
| 2015 | $300,000 | $300,000 |
| 2020 | $440,000 | $342,000 |
| 2026 | $620,000 | $397,000 |
This homeowner pays taxes on $397,000 minus exemptions — not $620,000 minus exemptions. That’s a taxable value difference of over $170,000, saving approximately $1,700–$2,500/year depending on millage rate.
What this means for new buyers: When you purchase a Florida home, the SOH cap resets. Your assessed value equals the full market value (just value) on January 1 after your purchase. You receive no benefit from the previous owner’s accumulated cap savings.
New homestead buyers: The SOH cap begins applying the year after you establish homestead exemption. In your first year, you pay taxes on full just value minus exemptions only.
Florida Homestead Exemption — 2026
The Two-Part Exemption Structure
First $25,000 exemption: Applies to the first $25,000 of assessed value for all taxes, including school district taxes.
Second exemption (inflation-adjusted): Applies to assessed value between $50,000 and $75,000, for non-school taxes only. For 2026, this additional exemption is $26,411 (adjusted by CPI under Amendment 5).
Total 2026 homestead exemption: $51,411 (though the second portion only applies to non-school taxes)
Practical example — $350,000 assessed value:
- First $25,000: exempt from ALL taxes (saves ~$500/year at 20 mills)
- $25,001–$50,000: fully taxable
- $50,001–$76,411: exempt from non-school taxes (saves ~$300/year)
- $76,412–$350,000: fully taxable
Total exemption savings: approximately $700–$900/year depending on your millage rate.
Homestead Exemption Filing Deadline — March 1
File by March 1 with your county property appraiser. Miss this deadline and you lose the exemption for the entire year — a cost of $700–$1,100 or more depending on county.
First-time filers: Download Form DR-501 from your county property appraiser’s website or file in person. Bring: Florida driver’s license or ID, Social Security number, proof you occupied the home by January 1.
Annual renewal: Once granted, the exemption renews automatically — unless you sell, move, or change how you hold title.
Save Our Homes Portability — Transfer Your Savings
When you sell a homesteaded Florida property and buy another in Florida, you can transfer up to $500,000 of your accumulated SOH benefit (the difference between assessed value and just value) to the new property. File Form DR-501T with your new county property appraiser simultaneously with your new homestead application.
Portability window: You must establish a new homestead within three tax years of abandoning the previous one.
Additional Florida Property Tax Exemptions
Senior Exemption — Additional $50,000 (County-Specific)
Homeowners 65 or older with household income below $38,686 (2026 threshold, CPI-adjusted) may qualify for an additional exemption of up to $50,000 on non-school taxes — if their county has adopted this optional exemption. Not all counties offer it. Check with your county property appraiser.
Disability Exemptions
- Total and permanent disability: $500 exemption on all property taxes
- Blind persons: $500 exemption
- Surviving spouses of first responders killed in line of duty: Full exemption on homestead property
Veteran Exemptions
- 10% or more service-connected disability: $5,000 exemption on any property owned
- 100% total and permanent disability: Full property tax exemption on homestead
- Combat-disabled veteran (65+): Discount equal to disability rating percentage
Florida Property Tax Examples — 2026
Example 1: Recent Buyer — Orlando, Orange County
Purchase price (2026): $390,000 Just value (market): $390,000 Year 1 — no SOH cap yet Homestead exemption: $51,411 Taxable value (schools): $364,589 (390,000 − 25,000 − 411) Taxable value (non-school): $338,589 (390,000 − 51,411)
Estimated millage rate (Orange County homestead): ~20 mills total Estimated annual tax: $7,200–$7,800 Monthly: $600–$650
Example 2: Long-Term Owner — Miami, Miami-Dade County
Purchased 2012 for $280,000. Market value 2026: $680,000. SOH-capped assessed value (after 14 years at ≤3%/year): approximately $375,000 Taxable value: $375,000 − $51,411 = $323,589
Estimated millage: ~19.5 mills Annual tax: ~$6,300
New buyer on same property in 2026 at $680,000: Taxable value: $680,000 − $51,411 = $628,589 Annual tax: ~$12,300
Same home. $6,000/year difference — the accumulated SOH benefit in action.
Example 3: Investment Property — Tampa, Hillsborough County
Rental property, purchased $420,000 (no homestead exemption) 10% non-homestead assessment cap: applies to assess value increases Taxable value: $420,000 (full market value) Estimated millage: ~20 mills Annual tax: ~$8,400
Investors pay 40%–50% more than owner-occupants on equivalent properties once homestead benefits compound over years.
2026 Legislative Update — Florida Property Tax Reform
HJR 203, which would have phased out non-school homestead property taxes over 10 years, passed the Florida House 80–30 in February 2026 but died in the Senate when the regular session ended March 13. Governor DeSantis called a special session for April 20, 2026 where the measure may be reconsidered.
For budgeting purposes: As of publication, no additional property tax relief beyond the standard $51,411 homestead exemption and SOH cap has taken effect. Budget based on current rates.
Florida Property Tax Due Dates
Florida offers early payment discounts — a significant incentive:
- November payment: 4% discount
- December payment: 3% discount
- January payment: 2% discount
- February payment: 1% discount
- March 31: Full amount due (no discount)
- After April 1: Delinquent — 3% penalty plus 1.5%/month interest
Most Florida homeowners pay in November to capture the 4% discount. On a $6,000 annual tax bill, the November discount saves $240.
Frequently Asked Questions
What is Florida’s Save Our Homes cap and how does it work?
Save Our Homes (SOH) limits annual increases in a homesteaded property’s assessed value to the lesser of 3% or the CPI change. In 2026, the cap rate is 2.7%. The cap protects long-term homeowners from dramatic tax increases as property values rise. When a property sells, the cap resets — the new owner’s assessed value equals full market value and they must rebuild their own SOH savings from scratch.
What is the Florida homestead exemption for 2026?
The Florida homestead exemption is $51,411 for 2026 — $25,000 applying to all taxes including school district taxes, and $26,411 (inflation-adjusted under Amendment 5) applying to non-school taxes only for assessed value between $50,000 and $75,000. File by March 1 with your county property appraiser.
How much will my property taxes increase when I buy a Florida home?
If the previous owner had a homestead exemption, their assessed value was likely well below current market value due to the SOH cap. When you purchase, the assessed value resets to full market value on January 1 following the sale. Your first full tax year reflects the actual current market assessment — which can be significantly higher than what the previous owner paid. Always check the county property appraiser’s estimated tax for new ownership, not the current tax bill.
Can I transfer my Florida homestead tax savings to a new home?
Yes — Florida’s SOH portability provision allows you to transfer up to $500,000 of your accumulated SOH benefit (the difference between your assessed value and just value) to a new Florida homestead. File Form DR-501T with your new county property appraiser simultaneously with your new homestead application. You must establish the new homestead within three tax years of abandoning the previous one.
What is the deadline to file for homestead exemption in Florida?
The deadline is March 1 of the tax year you want the exemption to apply. For the 2026 tax year, the deadline was March 1, 2026. Missing this deadline means no homestead exemption for the entire year. First-time buyers who close after January 1 should file immediately — even if closing was in December, you may qualify if you establish primary residence by January 1.
Are Florida property taxes higher than other states?
Florida’s average effective rate on market value (0.80%) is below the national average (0.99%) and well below states like New Jersey (2.23%) or Illinois (2.08%). However, Florida home values are high — particularly in South Florida, Tampa, and Orlando — so absolute dollar tax bills often exceed lower-rate states with cheaper homes. A 0.85% rate on a $500,000 Orlando home produces $4,250/year — more than a 1.2% rate on a $280,000 Indiana home producing $3,360.
Related Calculators
For Florida homebuyers calculating total monthly housing costs, the Mortgage Calculator incorporates property tax into the monthly payment — important since Florida homeowners insurance costs are also among the nation’s highest. For those considering a move within Florida and wanting to know how to transfer their SOH portability benefit, the Closing Costs Calculator — Florida estimates all transaction costs. And for investors evaluating Florida rental property returns at non-homestead tax rates, the Rental Yield Calculator incorporates the higher investment property tax into net yield calculations.
Data Sources
Florida property tax rates from the Florida Department of Revenue (floridarevenue.com), 2026 tax year. Save Our Homes (SOH) assessment cap (3% or CPI, whichever is lower) per Florida Statute 193.155. Homestead exemption ($50,000) from Florida Department of Revenue — Property Tax Oversight. Portability provisions from Florida Statute 193.155(8). County millage rates from Florida Department of Revenue Annual Report. Last verified: April 2026.
This calculator provides estimates for informational purposes only. Actual tax bills vary by county and municipality. Consult your county property appraiser for your exact assessed value and applicable exemptions.