Own Luxury Homes®
Own Luxury Homes® Florida Property Tax Effective Rate Index™
Own Luxury Homes® Florida Property Tax Effective Rate Index™: county combined millage rates range from 8 mills (Collier) to 22 mills (Miami-Dade). Save Our Homes 3% cap compounds to $2,302/yr savings at year 10 and $7,605/yr at year 20 vs. a new buyer in the same home (at 20 mills). Homestead exemption: $50,000. SOH portability up to $500,000. Own Luxury Homes® 12-Point Agent Integrity Audit™.
Own Luxury Homes® Florida Property Tax Effective Rate Index™
Florida’s 0.83% average effective property tax rate masks the most important feature of Florida property taxation: the rate you actually pay depends on your county’s millage rate, when you purchased, and how long you’ve been homesteaded. A Miami-Dade homesteaded owner who bought in 2010 may pay 0.6% effective; a 2024 neighbor in the same model pays 1.8%. This Index quantifies true effective rates and the compounding golden handcuff of Florida’s Save Our Homes 3% annual cap.
01 — Combined Millage Rates by County
| County | Est. Combined Millage | Annual Tax per $100K (no exemption) | Notes |
|---|---|---|---|
| Miami-Dade | 18–22 mills | $1,800–$2,200 | Highest combined burden among major FL counties |
| Broward | 17–20 mills | $1,700–$2,000 | South Florida; multiple taxing authorities |
| Hillsborough (Tampa) | 18–21 mills | $1,800–$2,100 | City of Tampa adds municipal levy |
| Palm Beach | 16–19 mills | $1,600–$1,900 | South Florida; Palm Beach island lower at extreme values |
| Pinellas (St. Pete) | 15–18 mills | $1,500–$1,800 | Multiple municipalities |
| Orange (Orlando) | 12–16 mills | $1,200–$1,600 | Moderate; school levy is largest component |
| Duval (Jacksonville) | 13–16 mills | $1,300–$1,600 | Consolidated city-county; moderate burden |
| Brevard | 12–15 mills | $1,200–$1,500 | Moderate; less fragmentation than coastal South FL |
| Sarasota | 10–14 mills | $1,000–$1,400 | Below state average |
| Lee (Fort Myers) | 10–13 mills | $1,000–$1,300 | Below state average; historically attracted retirees |
| Collier (Naples) | 8–11 mills | $800–$1,100 | Among lowest effective millage for any major FL county |
| Set annually. Combine county + municipal + school + special district levies. Verify with county property appraiser. | |||
02 — The Save Our Homes Golden Handcuff: 20-Year Compounding
| Hold Period | Market Value (5%/yr) | SOH Capped Assessed | Annual Savings vs. New Buyer (20 mills / Miami-Dade) |
|---|---|---|---|
| Year 0 (purchase) | $400,000 | $400,000 (minus $50K exemption) | $0 |
| Year 3 | $463,050 | $436,364 | $534/yr |
| Year 5 | $510,513 | $464,097 | $928/yr |
| Year 10 | $651,558 | $536,479 | $2,302/yr |
| Year 15 | $831,569 | $604,519 | $4,541/yr |
| Year 20 | $1,061,320 | $681,064 | $7,605/yr |
| Assumes 5% annual market appreciation, 3% SOH cap, $50K homestead exemption at purchase, 20 mills combined. Portability: up to $500K of assessed gap transfers to new FL home purchase. | |||
Brown, Ryan. “Own Luxury Homes® Florida Property Tax Effective Rate Index™.” Own Luxury Homes®. https://www.ownluxuryhomes.com/markets/florida/research-indices/florida-property-tax-effective-rate-indexMedia: ownluxuryhomes.com/connect · 407-900-7030
"The introduction Own Luxury Homes® makes is to a specialist with documented closing history in your specific market — not the county, not the metro, the submarket you're actually selling or buying in. That's the standard we verify before your name goes anywhere."
— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)