Florida Property Taxes and Homestead Exemption Explained for Beach Home Buyers

Quick Summary

• Florida property tax equals your taxable value multiplied by the local millage rate, where one mill is $1 per $1,000 of value.
• Homestead exemption reduces taxable value for your primary residence, and the Save Our Homes cap limits annual assessed-value increases on homesteaded property.
• After a sale, non-homestead property is generally reassessed closer to market value, so a seller's tax bill is not a reliable guide to yours.
• The application deadline for homestead exemption is generally March 1 each year.

How Do Florida Property Taxes Work?

Florida property taxes are calculated by multiplying a property's taxable value by the millage rates set by local taxing authorities. One mill equals $1 per $1,000 of taxable value. Homestead exemption lowers taxable value for a primary residence, and the Save Our Homes cap limits how fast the assessed value can rise each year.

Key Terms at a Glance

Term	Meaning
Just (market) value	The property appraiser's estimate of market value as of January 1
Assessed value	Value used for taxes after caps and limitations
Taxable value	Assessed value minus exemptions
Millage rate	Tax rate per $1,000 of taxable value, set by local taxing authorities
Homestead exemption	Exemption for your permanent residence, up to $50,000 in taxable value reduction (the portion applying to school taxes is lower)
Save Our Homes cap	Limits annual increases in assessed value of homesteaded property to 3% or the change in CPI, whichever is lower
Non-homestead cap	A 10% annual cap on assessment increases for most non-homestead property, excluding school taxes
Portability	Allows eligible owners to transfer part of their Save Our Homes benefit to a new Florida homestead

Illustrative Example

This simplified example uses an assumed total millage rate of 15 mills. Actual rates vary by location and taxing district, so ask your agent or the property appraiser for the current rate. [UPDATE: add current millage ranges for Duval and St. Johns County.]

Scenario	Taxable Value	Approximate Annual Tax at 15 Mills
$1,500,000 home, no homestead	$1,500,000	$22,500
$1,500,000 home, with first $50,000 homestead benefit	$1,450,000	$21,750

The real benefit of homestead often grows over time, because the Save Our Homes cap can hold your assessed value below market value as prices rise.

What Changes When You Buy

When a property sells, its assessed value generally resets to market value the next January 1, because the previous owner's caps do not transfer to you. Buyers should estimate taxes using the purchase price, not the seller's tax bill. If you will live in the home, you can apply for homestead and begin your own cap.

Step-by-Step: How to Apply for Homestead Exemption

Step 1: Confirm You Qualify

You must own the home and make it your permanent residence as of January 1 of the tax year.

Step 2: Gather Your Documents

You will typically need a Florida driver license or ID, vehicle registration, voter registration, and proof of ownership, such as the deed or closing statement.

Step 3: Apply With Your County Property Appraiser

Apply with the Duval County Property Appraiser or the St. Johns County Property Appraiser, depending on the property location. Many counties offer online applications.

Step 4: Meet the March 1 Deadline

File by March 1 of the year after you establish homestead. Late applications may be accepted in limited circumstances.

Step 5: Review Your Notice of Proposed Property Taxes

In August, your county mails a notice with proposed taxes. Review it and verify your exemption is included.

Step 6: Consider Portability If You Already Had a Florida Homestead

If you are moving from one Florida homestead to another, you may be able to transfer some of your accumulated Save Our Homes benefit, generally if you establish the new homestead within a limited time window. Ask the property appraiser.

Duval County vs. St. Johns County

Jacksonville Beach, Neptune Beach, and Atlantic Beach are in Duval County. Ponte Vedra Beach is in St. Johns County. Each county has its own property appraiser and taxing districts, and millage rates differ by location. Always check the rate for the specific address.

Frequently Asked Questions

What is the homestead exemption in Florida?

It is a property tax benefit for homeowners who use the property as their permanent residence. It reduces taxable value and enables the Save Our Homes assessment cap.

When is the deadline to apply for homestead exemption?

Generally March 1. You must own and occupy the home as your permanent residence on January 1 of the year you apply.

Do property taxes reset when you buy a home in Florida?

Often yes. The assessed value of non-homestead property generally resets to market value after a change of ownership, so use the purchase price to estimate taxes.

What is the Save Our Homes cap?

It limits the annual increase in assessed value for homesteaded property to 3 percent or the CPI change, whichever is lower.

Could Florida property tax rules change?

Yes. State lawmakers regularly consider property tax changes, so verify current rules with your county property appraiser or a tax professional.

Budget Beyond the Purchase Price

Taxes are a key piece of the ownership puzzle. I'm Iva Zovko, a Realtor with Keller Williams Atlantic Partners Realty, and I help buyers estimate true ownership costs across Ponte Vedra Beach, Jacksonville Beach, and Atlantic Beach. [Schedule a private consultation.]

This content is for general information only and is not tax advice. Verify current rules with your county property appraiser.