What is the property tax rate in Miami?

Miami-Dade's effective property tax rate averages about 1.02% of market value, though the exact figure depends on your taxing district's combined millage rate for county, city, schools, and special levies.

How does the Florida homestead exemption work?

If the home is your permanent primary residence you can exempt up to $50,000 of assessed value: the first $25,000 applies to all taxes, and a second $25,000 applies to non-school taxes on value above $50,000.

What is the Save Our Homes cap?

Florida's Save Our Homes provision caps annual increases in the assessed value of a homesteaded property at 3% or the change in CPI, whichever is lower. This protects long-term owners from rapid assessment growth.

Is the estimate exact?

No. Millage rates vary by district and change yearly, and additional exemptions may apply. Use the county Property Appraiser's TRIM notice for the official figure; this tool is for planning.

Do non-homestead properties pay more?

Effectively yes, because they get no homestead exemption and are not protected by the Save Our Homes cap, so their full market value is taxed and can rise faster year over year.

Miami Property Tax Estimator

Estimate your Miami-Dade property tax

Florida has no state income tax, but property taxes fund local government, and Miami-Dade’s effective rate runs around 1.02% of market value. This estimator applies that rate to your home’s taxable value after Florida’s homestead exemption, giving you a realistic annual bill for budgeting a purchase or planning ahead.

How it works

The taxable value is market value minus exemptions, then the effective rate is applied:

exemption = homestead ? 50000 : 0
taxable_value = max(market_value - exemption, 0)
annual_tax = taxable_value * effective_rate

The homestead exemption of $50,000 applies only to a permanent primary residence. Note that the second $25,000 of the exemption does not apply to school-district taxes, so the real saving is slightly less than a flat 1.02% of $50,000; for planning, the tool treats the exemption uniformly, which is a close approximation. Florida’s Save Our Homes provision separately caps annual assessed-value growth on homesteaded homes at 3%.

Tips and example

A 500,000 home that is your homestead has a taxable value of 450,000 after the $50,000 exemption. At a 1.02% effective rate, the estimated annual tax is about 4,590. The same home without homestead status is taxed on the full 500,000, or roughly 5,100 a year — and without the Save Our Homes cap its assessment can climb faster in a rising market.