Florida property taxes are administered by locally elected officials and supervised by the Florida Department of Revenue. Florida does not have a state-level property tax.
Florida property taxes are relatively unique because:
• They are levied annually.
• Taxes have to be paid in full and at one time (unless the property owner has filed for the installment program or for homestead tax deferrals).
• Substantial discounts are extended for early payment.
• Five months elapse before real property owners can be penalized for non-payment of taxes.
Property Tax Oversight
Property Appraisers. Florida’s Constitution requires property appraisers to establish the property tax base for their county annually. In doing so property appraisers determine the just, or market value of each parcel of property as of January 1 of each year. Then they apply all valid exemptions, classifications and assessments, limitation to determine each property’s taxable value or relative tax burden. The property appraiser does not determine the property tax rate of the amount of property taxes levied.
Property Tax Rates. Florida has more than 640 local governments that levy a property tax. These include cities, counties, school boards, and special districts. Each year, usually in August and September locally elected officials in each jurisdiction set a millage or tax rate for the upcoming fiscal year usually October 1. Millage rates for each jurisdiction are uniform across all property types.
Annual Truth In Millage Notice. In August, the property appraiser sends each property owner a Notice of Proposed Taxes or TRIM notice. This notice contains the property’s value on January 1, the millage rates proposed bye each local government, and an estimate of the amount of property taxes owed based not the proposed millage rtes. The date, time, and location of each local government’s budget hearing are also provided on the notice. This provides property owners the opportunity to attend the hearings and comment on the millage rates before approval.
Appeals Process. Each county has a five-member value adjustment board which hears and rules on challenges to a property’s assessments, classification, or exemptions. The value adjustment board is independent from the property appraiser and tax collector. Value adjustment boards cannot change the millage or property tax rates adopted by local governments.
Billing and Payments. Following the adoption of millage rates by local government, county tax collectors send annual property tax bills in late October or early November. Full payment is due by the following March 31. Discounts of up to four percent are given for early payments.
Collections and Refunds. If a property tax bill is not paid by the following March 31, the tax collector sells a tax certificate on that property in order to collect the unpaid taxes. A tax deed may be sold if the property owner has not paid all back taxes, interest, and fees within two years. The collects also process and issue refunds for overpayment of property taxes.
Funding of Public Education and Local Services. The tax collector distributes property taxes to the local governments and taxing authors. Bought 50% of Florida’s public education funding and 30% of its local government revenues come from property taxes.
For more information visit LeePa.org, LeeTC.com, CollierTax.com and Dor.MyFlorida.com.
Visit Naples.House for luxury homes for sale in Naples, Bonita Springs, Estero, Sanibel and Captiva Islands, and Marco Island!