Property Taxes

Fall 2008 CSANews Issue 68  |  Posted date : Sep 19, 2008.Back to list

Understanding Tax Bill Terms

Ad Valorem Taxes – These are property taxes based on the property's value.
Millage Rate – This is your property tax rate expressed in "mills"; a mill is the amount per thousand that you will be charged in taxes for specific services. For example, $1.00 per $1,000 of property value is equal to a tax rate of 0.01%.
Source: Florida Department of Revenue

Florida Homestead Exemption

This tax exemption may be applied for by residents of Florida and only applies to their primary residence.  Rental properties and secondary residences are not eligible for this tax exemption.  The maximum amount for which an owner may qualify to reduce the taxable value of their property is now $50,000.  It was 25,000 prior to January 1, 2008.

Snowbirds' Property Taxes Capped?

How do non-residents take advantage of the 10% cap on certain residential and non-residential property?

The property appraiser will assess your property at just value as of January 1, 2008, and 2008 will serve as a base year. Next year, you must apply to the property appraiser to receive the cap, and the assessed value of your property may not increase by more than 10%. See the frequently asked questions on the 10% cap by clicking the link below.

Related links
Frequently asked questions