Property taxes in Florida are calculated as assessed value × millage ÷ 1,000, minus exemptions, plus non-ad valorem assessments. A homesteaded primary gets a $50,000 exemption and the Save Our Homes 3%/CPI annual cap. The TRIM notice arrives in August; the bill arrives in November.
A TRIM notice landed in a Plantation mailbox in late August. The envelope said “Notice of Proposed Property Taxes.” Inside: an assessed value, a list of exemptions, a millage breakdown from the county, the city, the school district, and the water management district, and a “proposed taxes” line that did not match what the prior owner had paid. The seller’s homestead did not transfer with the sale. The new owner’s first-year bill was about to reset.
That is the whole story of property taxes in Florida for new buyers, compressed into one envelope. A walkthrough of the Florida homebuyer checklist for 2026 covers when the TRIM notice enters the timeline.
A Worked Example: a $475,000 Plantation Townhome
Assume a $475,000 purchase, homesteaded primary, City of Plantation municipal rate, Broward County combined millage at 20.0:
- Market value: $475,000
- Homestead exemption: −$50,000 (Florida Statutes §196.031)
- Taxable value: $425,000
- Property tax: $425,000 × 20.0 ÷ 1,000 = $8,500/year
- Monthly escrow share: ~$708
Without homestead (investor or second home), the same townhome is taxed on the full $475,000 = $9,500/year, or about $792/month. The $1,000 difference is the homestead piece alone; Save Our Homes adds protection over future years on top of that.
How Property Taxes in Florida Land on the Bill
Three inputs drive every Florida tax bill: assessed value, millage, and exemptions. Each taxing authority (county, city, school district, water management district) sets its own millage; the combined number lands on the bill. Non-ad valorem assessments: CDD bonds, solid waste and fire, sit underneath as separate line items and are not capped by Save Our Homes.
The 6 Facts That Shape Every Florida Bill
1. The $50,000 Homestead Exemption
Florida Statutes §196.031: $25,000 applies to all taxes; an additional $25,000 applies to non-school taxes on assessed value above $50,000.
2. The Save Our Homes Cap
Florida Constitution Article VII, Section 4(d) limits annual assessed-value increases on a homesteaded primary to 3% or CPI, whichever is lower. The cap resets at sale.
3. The 10% Cap on Non-Homesteaded Properties
Amendment 1 limits annual assessed-value increases on second homes and investment properties to 10% (with some exclusions). No homestead, no Save Our Homes, but the 10% ceiling still applies.
4. TRIM Notice in August, Bill in November
The Notice of Proposed Property Taxes mails in August. The actual bill mails in November.
5. Early-Payment Discounts
4% in November, 3% December, 2% January, 1% February, no discount in March. Delinquent April 1.
6. Homestead Filing Deadline: March 1
File with the county property appraiser by March 1 of the year following the qualifying January 1. Miss the date, lose the year.
Why the First-Year Bill Outpaces the Seller’s
The seller’s tax bill often reflects years of Save Our Homes protection, their assessed value sits well below market. After closing, the new buyer’s assessed value resets toward market on the next January 1. The result is a first-year bill that frequently runs hundreds to thousands above what the prior owner paid. A walkthrough of Florida homestead portability covers how prior cap savings can transfer (up to $500,000) under Florida Statutes §193.155(8). A walkthrough of CDD fees, HOA dues, and property taxes in Florida covers how non-ad valorem charges add to the bottom line.
How These Numbers Run in Plantation vs Weston
Combined Broward millage typically sits between 18 and 22 depending on the municipality. Plantation, Weston, Davie, and Hollywood FL each layer their own municipal rate on top of county and school district millage. Weston’s municipal rate often runs lower than Plantation’s; that gap can translate into a meaningful first-year difference on the same purchase price. Coastal-adjacent Hollywood FL parcels usually carry higher non-ad valorem fire and stormwater assessments than inland Weston ones.
Quick Reference
| Item | Number |
|---|---|
| Homestead exemption | $50,000 |
| Save Our Homes cap | 3% or CPI |
| Non-homestead cap | 10% |
| TRIM mails | August |
| Bill mails | November |
| Early-pay discount | 4% (Nov) → 1% (Feb) |
| Homestead deadline | March 1 |
| Portability cap | $500,000 |
A buyer who files homestead on time, reads the August TRIM carefully, and asks the lender to revisit the escrow estimate after the first notice usually avoids the first-year surprise.