What Is the Property Tax Rate in Palm Beach County?

Property taxes are a fundamental component of local government funding in Palm Beach County, supporting a wide array of public services. These services range from schools and libraries to public safety and healthcare programs. Importantly, there is no single tax rate, as various factors influence the final amount a property owner pays.

Understanding How Property Taxes Are Calculated

Property tax calculations in Florida, including Palm Beach County, rely on two elements: the property’s assessed value and the applicable millage rate. The assessed value is determined by the Property Appraiser and can differ from the market value. The Palm Beach County Property Appraiser establishes these assessed values as of January 1 each year.

A “mill” represents one dollar of tax for every $1,000 of assessed property value. For example, a millage rate of 10 mills translates to $10 in tax for every $1,000 of assessed value. Property tax is calculated using the formula: (Assessed Value / 1,000) multiplied by the total millage rate. This calculation determines the “ad valorem” tax.

Key Taxing Authorities and Their Millage Rates

Governmental entities in Palm Beach County levy property taxes, and their individual millage rates combine to form a property’s total tax burden. County-wide levies apply to all properties within Palm Beach County, regardless of their specific municipality. These include rates set by the Palm Beach County Board of County Commissioners, the Palm Beach County School District, the South Florida Water Management District, and the Children’s Services Council. The Children’s Services Council, for example, is an independent taxing district that funds programs for children and families.

Properties within an incorporated city also incur municipal millage rates, which vary significantly by city. For example, a property in Boca Raton will have a different city millage rate than one in West Palm Beach. These city-specific rates are added to county-wide levies, contributing to the overall tax rate for that location.

Beyond county and municipal rates, special districts may impose additional millage rates on properties within their boundaries. These districts, such as fire districts or independent drainage districts, provide specific services or infrastructure to a defined area. The combined millage rate for any property is the sum of all applicable rates from these various taxing authorities, making the total property tax dependent on the property’s location and the services it receives.

Exemptions and Assessment Limitations

Various exemptions and assessment limitations can reduce a property’s taxable value, leading to a lower property tax bill without altering the millage rate. The Florida Homestead Exemption is available to Florida residents who own and occupy a property as their permanent home by January 1st of the tax year.

This exemption provides a reduction of up to $50,000 in assessed value. The initial $25,000 applies to all property taxes, and an additional $25,000 applies to assessed values between $50,000 and $75,000, excluding school taxes.

The “Save Our Homes” (SOH) cap is an assessment limitation that benefits homesteaded properties. This constitutional amendment limits the annual increase in the assessed value of homesteaded properties to the lower of 3% or the percentage change in the Consumer Price Index (CPI). This cap remains in effect as long as the property maintains its homestead exemption, or until it is sold.

Florida law allows for “homestead portability,” enabling homeowners to transfer their accumulated Save Our Homes benefit when moving from one homesteaded property to another. This transfer can significantly reduce the taxable value of a new home. Other exemptions available include those for senior citizens, widows or widowers, individuals with disabilities, and veterans with a service-connected disability may qualify for exemptions, including a full exemption for those with a total and permanent service-connected disability.

Accessing Your Property’s Tax Information

Residents of Palm Beach County can access information about their property’s tax status online through official government websites. The Palm Beach County Property Appraiser’s website is the primary resource for finding a property’s market value, assessed value, and any applied exemptions. Users can search for their property using its address or parcel identification number. This online tool provides a breakdown of how the property’s value has been determined and what exemptions are reducing its taxable amount.

To understand the tax bill and payment details, the Palm Beach County Tax Collector’s website is the authoritative source. This site allows property owners to view their annual property tax bill, which includes a breakdown of taxes owed to each taxing authority. It also provides information on payment status, early payment discounts, and various payment options.