Understanding Florida Real Estate Taxes
Understanding the real estate tax laws in Florida can be tricky-there are several different factors that can affect the rate at which you’re taxed. The size of your property tax bill depends on two main factors-the assessed value of your property, and the tax rate (expressed as tax dollars paid per thousand dollars of assessed property value) for each local government body in your area which taxes property. For example, the property you purchase may be subject to taxes by the County, the School Board, the City, and various designated district organizations such as the Hospital District and the Water Management District. You will also be affected by whether or not you live in a Community Development District (CDDs)-these have extra tax regulations that will affect how much property tax you pay. There are other considerations, too, such as Homestead Exemptions and the “Save our Homes” amendment, which will limit the amount of property tax you pay.


