Florida (FL) property tax rate: 0.83% | Median home: $405,000 | Median annual tax: $3,362
Florida is the fastest-growing large state with no income tax. The average effective property tax rate in Florida is 0.83%, which is near the national average of 1.1%.
On the median Florida home valued at $405,000, annual property taxes come to approximately $3,362 or $280/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Florida homestead exemption saves $25,000-$50,000 off assessed value for primary residences.
Florida has no state income tax, which means property taxes are one of the primary revenue sources for local governments. While the property tax rate may seem moderate, the lack of income tax often makes the overall tax burden competitive.
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Florida has an average effective property tax rate of 0.83%. On the median home value of $405,000, that equals approximately $3,362 per year or $280 per month.
Property taxes in Florida are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Florida homestead exemption saves $25,000-$50,000 off assessed value for primary residences.
Florida property taxes are near the national average of 1.1%. This means property tax costs are predictable and in line with most states.
Property tax due dates vary by county in Florida. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.