Open main menu

Property tax

Revision as of 12:29, 13 September 2007 by Admin (talk | contribs) (Escambia County millage rates: oops)

Property taxes are the primary source of funding for local governments in Florida, as revenue from the base sales tax mostly funds state government. Property taxes are ad valorem, meaning they are collected based on the value of the property, as assessed by each county's property appraiser. The amount taxed is determined by the millage rate levied by the various taxing authorities of the property's location. There are also special assessments, called municipal service benefit units (MSBU), authorized by county commissioners to fund special projects. These are often limited to specific communities or neighborhoods.

The amount owed by property owners is calculated by multiplying the assessed property value (less any deductions, like a Homestead exemption) by the sum millage rate of all taxing authorities. "Mills" are expressed as 1/1000th of a dollar, so a $100,000 property subject to 13 mills would pay $1,300 annually ($100,000 × 0.013).

Escambia County millage rates

Santa Rosa County millage rates

References