January 16, 2026 · 3 min read
How Property Taxes Work in Florida
Florida property taxes are ad valorem, meaning they are based on the assessed value of your property as determined each year by your county property appraiser. That assessed value is then taxed at a millage rate set by a combination of local taxing authorities, including the county, your city if applicable, the school board, and any special districts that serve your property. Because these rates are set locally and can change from year to year, the most reliable way to estimate your own tax bill is to look up the specific parcel, either yours or one you are considering buying, on the county property appraiser's website.
The Homestead Exemption
If you own and occupy a property in Florida as your permanent, primary residence, you are generally eligible to file for a homestead exemption, which reduces the taxable value of your home and lowers your annual tax bill. It applies only to primary residences, not second homes, vacation properties, or rentals. Filing is done through your county property appraiser's office, in Manatee County or Sarasota County depending on where your property sits, and there is a window each year in which the application needs to be submitted.
The Save Our Homes Cap
Once your home is homesteaded, Florida law also limits how much your assessed value can increase each year, a protection commonly known as the Save Our Homes cap. This matters most for long-time owners in a rising market, since it keeps assessed value growth well below what market value might otherwise suggest. If you sell a homesteaded property and buy another one in Florida, you may also be able to carry some of that benefit, known as portability, to your next home. The details of both the cap and portability provisions are worth confirming with your county property appraiser, since eligibility depends on your specific circumstances.
What This Means When You Buy
One detail that catches new Florida buyers off guard is that a home's property taxes typically reset upon sale. The previous owner's capped assessed value does not transfer to you, which means your tax bill in year one as the new owner can differ meaningfully from what the seller was paying. It is worth asking your agent or lender to help you understand this before you finalize your budget, particularly if you are comparing a long-owned home to a recently sold one. If you are weighing a purchase against your current home's equity, a home valuation is a useful starting point for that conversation, whether you ultimately decide to sell or hold onto your current property.
Filing and Staying on Top of It
The homestead exemption application deadline is typically early in the year, so if you close on a new primary residence, it is worth filing as soon as you are able rather than waiting. Many county property appraiser offices also allow you to check your current exemption status and file online, which is worth doing annually if anything about your household or property has changed.
Note: Tax rules and deadlines can change, and your specific situation matters more than any general summary. For current figures and eligibility questions, the Manatee County or Sarasota County Property Appraiser's office is the authoritative source, and a tax professional can help with anything beyond the basics.
Questions about how property taxes might affect a purchase or sale you are considering are exactly the kind of thing our team is glad to talk through. Whether you are buying your first Florida home or just want a clearer sense of your options, reach out any time.