Buying a home in Central Florida comes with a lot of excitement—and a few things you’ll want to stay on top of, including property taxes. If you’re a new homeowner in 2025, here’s what you need to know about how Florida property taxes work, and why your bill might look different than expected.
1. Property Taxes Are Based on Assessed Value
Florida property taxes are calculated using the assessed value of your home—not necessarily what you paid for it. After your purchase, the county property appraiser reassesses your home’s value to determine your tax bill.
Keep in mind: If the previous owner had a homestead exemption, their tax bill was likely lower than yours will be. That’s normal.
2. Homestead Exemption = Tax Savings
If your new home is your primary residence, you’re likely eligible for a homestead exemption, which can reduce the taxable value of your home by up to $50,000.
Benefits:
-
Lowers your property taxes
-
Caps how much your home’s assessed value can increase (Save Our Homes cap = max 3% annually)
How to apply: File with your county’s property appraiser—usually by March 1st of the following year after you purchase.
3. What Are Millage Rates?
Your final tax bill is calculated using something called a millage rate—this is the amount per $1,000 of assessed value that is taxed. Local governments (county, city, school board, etc.) set their own rates, so your total bill depends on where you live.
Example:
If your assessed value is $300,000 and your total millage rate is 18.5, your annual tax bill would be about $5,550 (before exemptions).
4. Why Your Tax Bill Might Be Higher Than the Seller’s
This is a common surprise for new Florida homeowners. It happens because:
- The seller may have had a homestead exemption
- Their assessed value was lower due to long-term ownership and value caps
- After your purchase, the home is reassessed—usually at or near market value
That reassessment resets the “Save Our Homes” cap and may increase your tax obligation.
5. Check Local Resources
Every Central Florida county has its own tax resources. Here are a few helpful links:
- Orange County Property Appraiser
- Seminole County Property Appraiser
- Osceola County Property Appraiser
- Lake County Property Appraiser
Thinking About Buying or Selling in Central Florida?
The Wemert Group Realty team is here to guide you through every step—from understanding property taxes to finding your dream home. We make sure you’re informed, prepared, and confident in your next move.
Have questions about your tax bill or how exemptions work? Let’s chat today.
