Q:

# How can you calculate property tax in Florida?

A:

To calculate property tax of a Florida home, use the assessed value of the home to calculate school and nonschool taxes, explains the Florida Department of Revenue. Add the two calculated values together to get the final estimated property tax.

## Keep Learning

Credit: Joe Raedle Getty Images News Getty Images

The assessed value of a home is the just, or market, value minus accumulated Save Our Homes, or SOH, protections, states the Florida Department of Revenue. Save Our Homes, an amendment to the Florida Constitution, protects homeowners by limiting the maximum that the assessed value of a home can be raised to 3 percent, or to the percentage change in the Consumer Price Index for all urban consumers, whichever is lower.

To calculate school taxes, subtract the homestead exemption, which is traditionally \$25,000, from the assessed value of the home, explains the Florida Department of Revenue. Take that value, also called the Taxable Value, and multiply it by the Millage, which is 0.007. The resulting answer is the approximate value of a home's school taxes.

To calculate nonschool taxes, subtract the homestead plus additional exemptions equalling \$50,000 from the assessed value of the home, reports the Florida Department of Revenue. Take the resulting Taxable Value and multiply it by the Millage, or 0.011 in this case, and the answer is equal to the nonschool taxes. The addition of the school and nonschool taxes is the estimated property taxes. For example, a home with a just value of \$300,000 possess approximately \$1,645 in school taxes and \$2,310 in nonschool taxes for a total estimate of \$3,955 in property taxes.

Sources:

## Related Questions

• A: Florida's sales tax rate is 6 percent, according to the Florida Department of Revenue. Most counties in Florida apply an additional discretionary sales sur... Full Answer >
Filed Under:
• A: The Florida Department of Revenue hosts a useful webpage detailing current sales tax rates, identifying which goods are taxable, and providing information ... Full Answer >
Filed Under:
• A: As of 2015, the median yearly property tax in Florida is \$1,773 for a median home worth \$182,400. The yearly property tax is an average of 0.97 percent of ... Full Answer >
Filed Under:
• A: The Florida Department of Revenue states that businesses must register with the department through its website and enroll in e-Services in order to file an... Full Answer >
Filed Under:
PEOPLE SEARCH FOR