Florida · Property tax for families

Florida property tax: what families actually pay

Florida's Save Our Homes caps annual assessment growth at 3% for primary residences — but only if you homestead. For families relocating with kids, this changes the math substantially.

Effective rate: 0.7%–1.1% (county + school + city)National rank: Below national medianLast updated

Florida property tax is one of the most family-friendly tax regimes in the US — if (and only if) you homestead the property as a primary residence. The state's Save Our Homes amendment caps annual assessed-value growth at 3% per year (or CPI, whichever is lower) for homesteaded properties. Combined with no state income tax and a competitive base rate, it's a large part of why Florida has been the top state for net family migration since 2020. The trap: if the home is a second residence, vacation home, or rental, none of the Save Our Homes protection applies, and your assessment can grow 10%+ per year unchecked.

At-a-glance

Estimated annual Florida property tax by home price

Estimates use a typical effective rate for Florida; specific bills depend on town, school district, and exemptions.

$350,000 home~$3,325/yr
$550,000 home~$5,225/yr
$800,000 home~$7,600/yr
$1,200,000 home~$11,400/yr
How it works

Key mechanics

The base rate stack

Florida property tax is set at the county and school-district level, plus city if you're inside city limits. The total effective rate runs about 0.7% in some rural counties and up to 1.1% in dense urban areas (Miami-Dade, Broward, Orange/Orlando). The school district piece is typically 0.6–0.7% — the single largest component, and the one most directly tied to your kids' school funding.

Save Our Homes (the family-buyer benefit)

If your Florida property is your primary residence and you've filed for homestead, the assessed value used for tax purposes can grow no more than 3% per year (or the CPI growth, whichever is lower). This is a powerful long-term protection — over 10 years, it caps assessment growth at 34% cumulatively, while market values may have grown 80–120%. The longer you hold, the larger the gap between market value and tax-assessed value. New buyers in your same neighborhood will pay materially more in property tax than you do.

Homestead Portability

If you sell your homesteaded Florida home and buy another within two years, you can transfer (port) up to $500,000 of your accumulated Save Our Homes savings to the new home. For long-time Florida families upgrading from starter to forever home, this is a major benefit — without portability, the new purchase would reset your assessment to full market value.

Non-homesteaded property

Vacation homes, snowbird second homes, rental properties, and corporate-owned properties get NO Save Our Homes protection. Their assessment grows at up to 10% per year (per a 2008 amendment), and on resale resets fully to market. Florida is genuinely punishing for non-primary-residence ownership in a way that drives the politics of housing in places like Miami and Naples — locals get 3% caps, snowbirds get 10%.
Family takeaways

What buyers with kids should actually do

  • File the homestead exemption by March 1 of the year after you buy. Missing this single deadline costs you $400–$1,500/year and opens the door to uncapped assessment growth.
  • If you're moving from a high-tax state (NY, NJ, IL) and Florida is your primary residence, the savings are real — often $5,000–$15,000/year on a comparable home.
  • School-district funding in Florida is somewhat more equalized via state-level allocations than Texas, so your specific neighborhood's tax base affects local school spending less directly. That said, individual school quality still varies enormously by district and neighborhood.
  • Don't buy a Florida vacation home assuming Save Our Homes will kick in. It won't — non-homesteaded property pays uncapped tax, and you'll pay full market reassessment every year.
Exemptions

Florida property-tax exemptions

Homestead Exemption

Up to $50,000 off the assessed value of your primary residence (split as $25K base + $25K for the school portion). Net savings on a typical $500K home: about $400–$700/year. Critical: file by March 1 of the year after you buy. Missing this is a top-3 mistake new Florida homeowners make.

Senior Exemption (Age 65+)

Counties can offer an additional $50K exemption for residents 65+ with low household income (threshold varies, ~$30K). Not all counties offer this; check with your county property appraiser.

Disability Exemption

Various exemptions for permanent disability, blindness, or veteran status — including a 100%-disabled-veterans full exemption from property tax on a primary residence. Substantial benefit; verify with the county property appraiser.

FAQ

Common Florida property-tax questions

How quickly does Save Our Homes start saving me money?

Year 2. Year 1 is your purchase year — assessment equals purchase price. From year 2 onward, your assessed value grows at most 3% per year while market value typically grows faster. Within 5 years in a rising market, the gap is usually $50K–$150K of protected value.

What happens to Save Our Homes if I sell?

Without portability, you lose the accumulated savings entirely — the new buyer pays market value. With portability (must sell and buy a new Florida home within 2 years), you can transfer up to $500K of accumulated savings to the new purchase. This is huge for in-state Florida moves; less relevant for out-of-state relocations.

Is Florida really cheaper than New York for property tax?

Almost always yes. New York effective rates run 1.5–2.5% (varies wildly by region — NYC is among the highest, while Long Island and Westchester are even higher). Florida effective rates are 0.7–1.1% with Save Our Homes protection. For a $700K home, the annual difference is typically $5,000–$10,000+ — and that's before factoring in New York's 6.85–10.9% state income tax.

How does Florida fund schools if property taxes are low?

Florida has a state-level funding formula (FEFP) that redistributes property-tax revenue across districts to ensure baseline funding. Wealthy districts contribute more than they receive locally. The state also uses the Florida Lottery proceeds for educational enhancement. Total per-pupil funding in Florida is below the national average, which is one factor in the variability of school quality across the state.

Next

See Florida property tax in a real family report.

Every Family Home Finder sample report includes a state-specific property-tax breakdown applied to the family's comfort target price.

Florida family guideHow property-tax caps work