Property tax and homestead in Florida, explained for buyers

Florida property tax is your home's taxable value times the local millage rate, and taxable value is the assessed value minus any exemptions. If the home will be your permanent residence, the homestead exemption and the Save Our Homes cap can lower that bill a lot, but only after you file for them yourself.

How is Florida property tax figured?

The Florida Department of Revenue describes it in three steps:

1. The county property appraiser sets the home's just (market) value as of January 1 each year.
2. Assessment limits, like the caps below, can bring that down to the assessed value.
3. Exemptions come off the assessed value, which leaves the taxable value.

The taxable value is multiplied by the millage rates of the county, school district, city and any special districts. One mill is $1 of tax for every $1,000 of taxable value. Bills arrive in November, with a 4% discount for paying that month.

For county-by-county millage and a worked estimate, see property taxes by county.

What is the homestead exemption worth in 2026?

The Florida Constitution and section 196.031 set up two parts:

Part	What it exempts	2026 amount
First exemption	The first $25,000 of assessed value, for all property taxes, school taxes included	$25,000
Additional exemption	Assessed value above $50,000, for every tax except school taxes	$26,411

The additional exemption started at $25,000 and is now adjusted yearly for inflation. So a home assessed at $76,411 or more gets $51,411 off its non-school taxes and $25,000 off its school taxes.

Who qualifies, and when do you file?

You qualify if you hold legal or equitable title on January 1 and in good faith make the home your permanent residence, or the permanent residence of someone who depends on you. A second home or a rental doesn't qualify.

The application is due to the county property appraiser by March 1 of the year you want the exemption. Because January 1 is the date that counts, a buyer who closes and moves in during 2026 would generally file by March 1, 2027, for the 2027 tax year. Late filing is allowed only in narrow cases.

The exemption doesn't pass from the seller to you. Each new owner applies with proof of Florida residency, such as a Florida driver license or vehicle registration.

How does the Save Our Homes cap work?

Once a home has homestead, its assessed value can rise each year by no more than 3% or the change in the Consumer Price Index, whichever is lower, and never above market value. Over the years, the gap between the two can grow large.

Why can your bill differ from the seller's?

After a sale, the home is reassessed at market value as of the next January 1, and later increases are capped again from that new starting point. The seller's capped value and exemptions don't carry over to you.

So the seller's last tax bill can be a poor guide to yours, especially after a long ownership. Estimate from your price and the current millage instead. The bill for the year you buy rests on that year's January 1 assessment, so ask your closing agent how it will be prorated.

Tyler's note: [one or two sentences on what you see when buyers compare their first bill to the seller's]

What is portability?

If you're leaving a Florida homestead, you may be able to move up to $500,000 of your Save Our Homes benefit to the new one. You must have had a homestead exemption as of January 1 in any of the 3 years before, and you apply with your new homestead application. The property appraiser runs the math.

What about second homes and rentals?

Non-homestead homes with nine or fewer units get a different cap: assessed value can rise no more than 10% a year, for every tax except school taxes. It also resets to market value after a sale.

Is anything changing?

Yes. Florida voters passed Amendment 3 on November 3, 2026, with about 62% of the vote, above the 60% it needed. It takes effect January 1, 2027, and it will:

• Raise the homestead exemption for non-school taxes to $150,000 in 2027 and $250,000 in 2028, then adjust it for inflation. The school exemption stays at $25,000.
• Give people who aren't Florida residents on December 31, 2026 the existing exemption first, with the larger one starting in their fifth year of exemption.
• Lower the non-homestead cap from 10% to 5%.
• Limit what counties and cities can spend property taxes on.

Save Our Homes and portability stay the same. Your county property appraiser will publish how the new exemption applies to your bill.

Where do you file?

County	Property appraiser
Osceola	property-appraiser.org exemptions
Orange	Orange County homestead exemption
Polk	polkflpa.gov
Lake	lakecopropappr.com exemptions

Other exemptions, such as those for disability or veterans, are filed there too. This guide explains the rules, not your situation, so confirm details with the property appraiser or a tax professional.

Want an estimate for a specific home?

Call me with the address, and I'll help you estimate the taxes on what you'd pay, not on the seller's bill.