Florida Property Tax Guide for Out-of-State Buyers

The assessment resets when you buy

A seller who owned for fifteen years under the Save Our Homes cap may be paying tax on an assessed value far below market. Your bill is based on the post-sale assessment, not theirs. Always underwrite from market value times the county's effective rate — never from the listing's current tax line.

Homestead exemption and the 3% cap

If the property is your permanent residence as of January 1, the homestead exemption removes a portion of assessed value and caps annual assessed-value growth at 3% or CPI, whichever is lower.

Second homes and investment properties get no homestead exemption and are capped at 10% annual assessed growth for non-school taxes.

Portability

Existing Florida homesteaders moving within the state can port accumulated Save Our Homes savings to the new property, up to statutory limits. Buyers relocating from out of state cannot.

How coastal counties compare

Effective rates across the major coastal counties generally land between roughly 0.8% and 1.3% of market value once all taxing authorities are included. Municipal service districts, beach renourishment assessments, and CDD fees on newer communities are added line items that do not appear in a simple millage comparison.

Versus your current state

Buyers from New York, New Jersey, Illinois, and California typically see total state tax burden fall sharply because the income tax line disappears entirely — even when the Florida property tax bill is nominally higher than what they paid at home.