Understanding Florida’s Property Taxes: What Homebuyers Need to Know

If you’re relocating to Florida — especially to beautiful Apollo Beach — one of the first financial questions that might come to mind is, “What will my property taxes look like?”

The good news? Florida’s tax system is relatively straightforward and often more favorable than what buyers experience in other parts of the country. In this post, we’ll walk you through the basics of Florida’s property taxes, how they apply to homeowners in Apollo Beach, and how you can make smart, informed decisions when buying your next home.

No State Income Tax = Big Savings

Let’s start with one of Florida’s biggest perks: no state income tax. Whether you're earning a salary, living off retirement income, or running a business, you’ll likely see significant savings compared to states that tax personal income. This financial benefit is one of the reasons Florida — and communities like Apollo Beach — continue to draw new residents from around the country.

How Property Taxes Work in Florida

Property taxes in Florida help fund public services such as schools, emergency services, parks, and infrastructure. The average effective property tax rate in the state is approximately 0.83%, which is lower than the national average of around 0.99%.

However, your exact tax bill depends on the assessed value of your property and your local millage rate — a rate applied to each $1,000 of assessed value.

For example, if you purchase a home in Apollo Beach for $450,000, your estimated annual property tax might be around $3,735 (based on the state average rate). That number can vary slightly depending on the specific neighborhood and local taxing districts.

Homestead Exemption: Big Savings for Primary Residents

If your new Florida home will be your primary residence, you may qualify for the Homestead Exemption, which allows homeowners to deduct up to $50,000 from the assessed value of their home for property tax purposes.

Using the $450,000 example, if the exemption applies, you could be taxed as if your home were worth only $400,000 — potentially saving you hundreds of dollars each year. You only need to apply for this once, and it stays in effect as long as the home remains your primary residence.

Save Our Homes: Protection from Sharp Increases

Florida’s Save Our Homes law helps protect residents from large increases in property taxes. Once a home is homesteaded, the assessed value can only rise by a maximum of 3% per year, even if the market value goes up faster.

This is especially helpful in appreciating markets like Apollo Beach, where home values have been trending upward. It gives homeowners predictability and helps manage long-term affordability.

Additional Exemptions Available

In addition to the standard Homestead Exemption, Florida also offers property tax relief for:

• Seniors 65+ who meet certain income requirements

• Veterans and active military personnel

• Individuals with disabilities

• Surviving spouses of first responders or veterans

These exemptions can significantly reduce your property tax burden, so it’s worth checking with your local tax assessor to see if you qualify.

What About Talks of Eliminating Property Tax?

You may have heard discussions about replacing Florida’s property taxes with a consumption-based model. While that’s been a topic of political conversation, there’s currently no active legislation proposing such a change — and most experts don’t expect a major overhaul anytime soon.

Local Expertise Can Make a Big Difference

As a full-time real estate professional based right here in Apollo Beach, I help buyers understand not just the estimated tax on a particular property, but also how exemptions, CDD fees, and neighborhood trends affect long-term affordability.

Some homes are already homesteaded — meaning the Save Our Homes cap is already in place. Others might be subject to higher CDD (Community Development District) taxes, which can vary widely between communities. Understanding these details upfront helps you plan better and avoid surprises down the line.

Let’s break down the numbers together. I’ll help you evaluate everything from projected monthly payments to long-term tax implications so that you're not just choosing the right home — you’re making a sound financial decision too.

Thinking of relocating to Apollo Beach or the Tampa Bay area? Let’s chat. I’m here to help every step of the way.

Shawna Calvert Align Right Realty Southshore 📧 shawna@relocatingtoparadise.com 📞 (509) 294-6818 🔗 YouTube: @ShawnainParadise 📍 Based in Apollo Beach, Florida