What is the property tax rate?

Property tax in Florida is set by the county or local government. Each county has its own rate and millage rate, which is the rate that determines the amount of taxes to be paid. The millage rate is the rate per thousand dollars of assessed property value. For example, if the millage rate is 10, and a property is valued at $75,000, the property tax due would be $750. In Florida, the average property tax rate for residential properties is 0.97%. The rate for commercial and industrial properties is slightly higher, at 1.03%. There is also a separate 3% tax rate for non-homesteaded properties, such as second homes. Each county or local government sets its own property tax rate. You can find the average rate for your area by visiting your county’s website or by using a property tax calculator. The actual rate you pay may be different depending on the assessed value of your property and any special tax districts that may apply in your area. Overall, the property tax rate in Florida is among the lowest in the United States and is an important source of revenue to local governments. Property taxes provide needed funding for schools, roads, and other public services.

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What is the property tax rate?

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