Tax Estimator

	Property Tax Estimator
	Enter the Property Sale Price or Market Value $25000 Minimum Value. DO NOT USE COMMA'S $ Millage Rate (Millage Codes) (Use 16.0 if the actual is not known) $ per thousand Homestead Exemption  Yes   No     The estimated range of  property taxes are: Click here: Who are the Taxing Authorities that set the millage tax rates?

An Advantage for Homestead Properties:  “Save Our Homes” Amendment 10 Assessment Cap

Florida voters approved a state constitutional amendment in 1992 to “cap” or limit increases in the assessed value of homestead-exempt property to 3% per year or the amount of increase in the consumer price index (CPI), whichever is lower. 

• When a property with homestead exemption is sold, Florida law requires that the following year the homestead exemption and cap be removed, and the property be re-assessed to equal its market value.  The buyer should not rely on the seller’s current property taxes as the amount of property taxes that the buyer may be obligated to pay in the year subsequent to purchase.  A change of ownership triggers reassessment of the property that could result in higher property taxes.  If you have any questions concerning valuation, contact the Property Appraiser’s office for information.

Warning:  If you purchased your property after January 1^st of the current tax year, you may have inherited the previous owner’s exemption and cap.  By state law, this exemption and cap will be removed the following year.  You must file for your own homestead exemption.

• The first year you receive your homestead exemption is your “base year, and the assessed value will be the same as the market value.  The year after you first receive homestead exemption will be the first year the assessed value is capped, or limited from increasing.  For example, if you have a new homestead exemption for 2007, your assessed value will not be capped or limited from increasing until 2008.
• If you make additions or improvements to your property, the value of these improvements will be added to the roll regardless of the cap.  For example, if you added a pool to your property in 2006, your 2007 assessed value can increase no more than 3% plus the value of the pool. 
• The cap applies only to property value, not to property taxes.
• Non-homestead exempt properties are not eligible for the cap.
• The cap does not apply to portions of multi-use or multi-family properties that are not homestead. For example, if you own a duplex, live in one half and rent the other, the cap will only apply to the portion of the property you occupy as your homestead.
• The assessed value can increase by the amount of the assessment cap (3%) even if the market value decreases, but the assessed value cannot exceed the market value.