How Much Is Property Tax in Miami-Dade County?

Property taxes are financial contributions property owners make to local governments, funding essential public services. These services include education, public safety, and infrastructure, which contribute to the community’s well-being. In Miami-Dade County, this system supports the area’s diverse needs and quality of life.

How Property Taxes are Calculated

Calculating property taxes in Miami-Dade County involves three main components: the property’s assessed value, applicable millage rates, and non-ad valorem assessments. The Miami-Dade County Property Appraiser determines a property’s assessed value annually, which forms the basis for taxation. This assessed value is distinct from the market value, which represents what a property might sell for on the open market.

A significant factor influencing assessed value for homesteaded properties is Florida’s “Save Our Homes” (SOH) Amendment, also known as Amendment 10. This amendment limits the annual increase in assessed value for homesteaded properties to the lower of 3% or the Consumer Price Index (CPI), preventing sudden large jumps in property tax bills. For non-homesteaded properties, the increase in assessed value is capped at 10% annually, though this limitation does not apply to the school board portion of the valuation.

Once the assessed value is determined, it is multiplied by the millage rates to calculate the ad valorem portion of the property tax. A millage rate represents the tax amount per $1,000 of assessed value, with one mill equaling one-tenth of a cent. Various taxing authorities, such as the county, city, school board, and special districts, each set their own millage rates to fund specific services.

Property owners in Miami-Dade County also face non-ad valorem assessments. These are charges for specific services that directly benefit the property, rather than being based on its value. Common examples include assessments for solid waste disposal, stormwater management, and contributions to special improvement districts. These assessments are added to the property tax bill and contribute to funding local services and projects.

Property Tax Exemptions

Property tax exemptions can reduce a property’s taxable value, thereby lowering the overall tax bill in Miami-Dade County. The Homestead Exemption offers a reduction of up to $50,000 from the assessed value of a primary residence. To qualify, the property must be the owner’s permanent residence as of January 1st of the tax year.

Homeowners who move to a new Florida home can transfer their accumulated “Save Our Homes” (SOH) benefit, a process known as homestead portability. This allows them to transfer the difference between their previous home’s market value and its assessed value (up to $500,000) to their new homestead. The new homestead must be established within two years of abandoning the prior homestead.

Additional exemptions are available for specific circumstances, including those for senior citizens. Seniors aged 65 or older may qualify for an additional exemption if they meet certain income limitations. Long-term residents might also qualify if they have owned and resided in their home for at least 25 years and the property’s market value is less than $250,000.

A Widow/Widower Exemption provides a $5,000 reduction in property assessment for eligible individuals who are bona fide residents of the state and have not remarried. For veterans, various disability exemptions exist. A veteran honorably discharged with a service-connected total and permanent disability can qualify for a full exemption from all ad valorem taxes on their homestead property. Veterans with a service-connected disability of 10% or more may receive a $5,000 reduction in assessed value. These exemptions require specific documentation and are applied for through the Miami-Dade Property Appraiser’s office, with an annual application deadline of March 1st.

Accessing Property Tax Information

Two government offices are responsible for different aspects of the property tax process: the Miami-Dade Property Appraiser and the Miami-Dade Tax Collector. The Miami-Dade Property Appraiser’s Office assesses property values and administers exemptions. Property owners can visit their website to look up assessed values, market values, and details of any applied exemptions. This resource is essential for understanding how the property’s value is determined for tax purposes and which exemptions are reducing the taxable amount.

The Miami-Dade Tax Collector’s Office collects tax payments and issues property tax bills. Their website allows users to view and download their property tax bill, which provides a comprehensive breakdown of all calculated taxes, including both ad valorem and non-ad valorem assessments. Tax rolls and preliminary tax notices are available in August, with final tax bills mailed by November 1st each year.

Payment Procedures

Once a property tax bill is obtained from the Miami-Dade Tax Collector’s website, several payment options are available to property owners. Payments can be made online, through the mail, or in person at designated tax collector locations. Online payment methods include eCheck, which usually has no convenience fee, or credit/debit cards, which incur a fee.

Miami-Dade County follows an annual payment cycle with incentives for early payment. Tax bills are mailed by November 1st and are due by March 31st of the following year. Property owners can receive discounts for early payment: 4% in November, 3% in December, 2% in January, and 1% in February. No discount applies if the payment is made in March.

Failure to pay property taxes by the March 31st deadline results in the taxes becoming delinquent on April 1st. Late payments incur penalties, including interest charges and the potential for the issuance of tax certificates. When taxes become delinquent, acceptable forms of payment may become more restricted.