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Understanding Property Taxes in Central Florida: What Homeowners Need to Know for 2025

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Property taxes are an essential consideration for homeowners in Central Florida. Whether you’re a long-time resident or a new homeowner, understanding how property taxes work can help you better plan your finances and take advantage of potential savings. Here’s what you need to know about property taxes in Central Florida for 2025.

1. How Are Property Taxes Calculated?

In Florida, property taxes are based on the assessed value of your property, which is determined by the county property appraiser. The formula typically involves:

  • Assessed Value: This is the value of your home as determined by the property appraiser.
  • Millage Rate: Local governments set this rate, which is expressed in mills (1 mill = $1 per $1,000 of assessed value).
  • Exemptions: Subtractions from the assessed value that reduce the taxable amount.

For example, if your home’s assessed value is $250,000 and the millage rate is 15 mills, your annual property tax would be $3,750 before any exemptions.

2. Florida Homestead Exemption

One of the biggest benefits for homeowners in Florida is the Homestead Exemption. If your home is your primary residence, you may qualify for up to $50,000 in exemptions:

  • The first $25,000 applies to all property taxes, including school district taxes.
  • The second $25,000 applies to non-school taxes on the assessed value between $50,000 and $75,000.

Additionally, the Save Our Homes (SOH) cap limits annual increases in assessed value to 3% or the change in the Consumer Price Index (CPI), whichever is lower.

3. Portability of Tax Savings

If you’re moving within Florida, you can transfer your Homestead Exemption benefits to a new property. This portability allows you to carry over your tax savings, which can significantly reduce your new home’s property taxes.

4. Important Deadlines for 2025

To take advantage of the Homestead Exemption and other tax benefits, homeowners must apply by March 1, 2025. Applications can typically be submitted online through your county’s property appraiser’s website.

5. Understanding Non-Ad Valorem Assessments

In addition to property taxes, Florida homeowners may see non-ad valorem assessments on their tax bills. These fees fund specific services such as:

  • Trash collection
  • Stormwater management
  • Community development district (CDD) fees

These assessments are not based on property value but on the cost of providing the service.

6. How to Appeal Your Assessed Value

If you believe your property’s assessed value is too high, you have the right to appeal. File a petition with your county’s Value Adjustment Board (VAB) and provide evidence to support your claim, such as recent appraisals or comparable property sales.

7. Budgeting for Property Taxes

Most mortgage lenders include property taxes in your monthly mortgage payment through an escrow account. If you’ve paid off your home, it’s essential to budget for property taxes separately to avoid surprises.

Stay Informed and Prepared

Understanding property taxes in Central Florida can help you plan effectively and potentially save money. Whether you’re buying a new home, moving within the state, or managing your current property, staying informed about deadlines and exemptions is key.

Ready to Find Your Dream Home in 2025?

At Wemert Group Realty, we specialize in helping homeowners navigate the complexities of homeownership, including understanding property taxes. Whether you’re buying or selling, we’re here to help every step of the way.

☎ Contact Us Today!
• Email: [email protected]
• Phone: (321) 567-1202