How is property taxed in Florida?

Property tax in the Sunshine State is a county tax that’s based on an estimation of how much your house is worth. Houses are appraised for market value as of January 1 of every year. The average tax rate is 0.98% of the assessed value of your property, but property taxes vary across the state.

If you’re a resident of Florida, you may qualify to claim a property tax break of up to $50,000 on your permanent home via Florida’s homestead exemption. Moreover, if you’re 65 or older, you may be eligible for an extra exemption of as much as $50,000. Additional discounts are offered for eligible widows, widowers, and veterans 65 and older.