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Property Tax Reliance

Florida’s reliance on the property tax is slightly below average among U.S. states. The property tax, which is exclusively a local tax in Florida, accounts for 30 percent of local revenue and 16 percent of combined state and local revenue. Florida’s property tax burden is average, whether measured as property tax per capita, as a percentage of personal income, or the effective tax rate on a median-value, owner-occupied home. See Selected Property Tax Statistics

Administration and Assessment

More than 640 local governments in Florida levy property taxes (Florida Department of Revenue 2017). Florida’s 67 counties are responsible for real property assessment at 100 percent of “just” or market value subject to assessment limitations (Florida Department of Revenue). Although local governments have exclusive authority to tax property, each year the legislature sets the required local effort (RLE) for all school districts. RLE is the amount of funding for K-12 education each district must raise locally. In fiscal year 2025, the statewide average RLE millage rate was 3.087 mills (Florida Department of Education 2024, 3).

Florida conducts assessments annually and physical inspections at least every five years. Florida levies a tax on personal property. Current use valuation provides preferential property tax treatment of agricultural land (Significant Features of the Property Tax).

Limits on Property Taxation

The state imposes limits on both property tax rates and property tax assessments. Constitutional rate limitations constrain county, municipality, and school district property tax rates to a maximum of 10 mills without voter authorization. Florida’s maximum millage rate statute further restricts growth in local property tax rates. Jurisdictions are also subject to a limit on how much millage rates can increase. The maximum millage rate a jurisdiction can levy without a supermajority vote is 110 percent of the rolled back rate (Significant Features of the Property Tax). In 2024, Florida imposed a 1-mill rate limit on mosquito control districts, or 2 mills with voter approval (HB 7013 of 2024).

In 1992, Florida adopted the Save Our Homes amendment, which imposed constitutional limits on growth in homestead assessments, with no override provision. Under Save Our Homes, home values may not increase more than the lesser of 3 percent of the prior year’s assessment or the percentage change in the Consumer Price Index. In 2008, Florida voters approved another constitutional amendment, Amendment 1, which further restricted property taxation in four important ways: (1) it allowed homeowners receiving reduced taxation under the Save Our Homes limit to port or transfer up to $500,000 of the Save Our Homes benefit (the difference between the market value and the assessed value) to a new homstead anywhere in the state; (2) it expanded the homestead exemption to exempt homestead value between $50,000 and $75,000 from non-school property taxes; (3) it exempted $25,000 of tangible personal property from taxation; and (4) it imposed a 10 percent assessment cap on all non-homestead property for non-school property taxes. The estimated revenue reduction of the Save Our Homes assessment limit for 2023–2024 was $15.2 billion (Florida Revenue Estimating Conference 2024, 225). A “recapture” provision in the Florida Administrative Code requires annual increases in assessments that are below market value by the lower of 3 percent or inflation, until the assessment reaches market value (Significant Features of the Property Tax).

Florida’s Truth in Millage (TRIM) statute requires cities and towns to calculate and issue notice of the prior-year millage rate, proposed millage rate, and the rollback rate, which is the rate required to raise the same revenue as in the previous year, and to issue notice of a tentative budget hearing. Once a tentative budget and millage are approved, local governments must issue notice of and advertise the final budget and millage hearing (Bryant Miller Olive 2010).

Property Tax Relief and Incentives

Florida provides both homestead exemptions and exemptions for active military, disabled veterans, the blind and disabled, and widows and widowers. The state also offers a homestead property tax deferral program for permanent residents. Some exemptions are subject to income limits. The state has no property tax circuit breaker program. The estimated 2025–2026 tax revenue loss attributable to these residential tax relief programs was about $4 billion (Florida Revenue Estimating Conference 2024, 226). See Property Tax Features

Florida exempts up to $50,722 on a homestead property. For 2025, Florida exempts the first $25,000 of homestead value from all property taxes and an additional $25,722, adjusted for inflation each year, from homes with values between $50,000 and $75,000 from non-school property taxes only. Therefore, the owner of a homestead valued at $100,000 pays no taxes on the first $25,000 of value, pays full taxes on the second $25,000 of value, pays only school taxes on the third $25,722 of value, and pays full taxes on the last $24,278 of value (Florida Department of Revenue 2021; 2025).

Economic development incentives that provide property tax benefits include an enterprise zone program that exempts up to the full value of qualifying improvements, local-option exemptions not tied to specific geographic areas, refunds for jobs created in target industries, and a tax increment finance program (Significant Features of the Property Tax).

Key Property Tax History

Property taxation in Florida dates back to 1830, when rates ranged from one-half cent per acre on “first-rate land” to one-eighth cent on “third-rate land.” Florida’s 1885 constitution called for “a uniform and equal rate of taxation.” The state first enacted a homestead exemption in 1934, around the same time that the property tax transitioned from a state revenue source to a local revenue source (Florida League of Cities 2008). In 1940, Florida amended its constitution to restrict the state government from levying real or personal property taxes (Florida Revenue Estimating Conference 2020).

In 1980, Florida passed the Truth in Millage (TRIM) act, which reformed assessment administration practices, imposed full disclosure requirements (Florida Revenue Estimating Conference 2020), and requires cities and towns to calculate and publish a rollback rate. The rollback rate excludes new construction, additions, deletions, and annexation (Florida Revenue Estimating Conference 2020).

The Save Our Homes constitutional amendment, on the ballot by voter initiative, passed in 1992 and imposed limits on growth in homestead values to the lesser of 3 percent or inflation, with reassessment upon transfer (Florida Revenue Estimating Conference 2020). Florida enacted major property tax reform again in 2008, passing an amendment to the constitution (Amendment 1) that allowed homeowners relocating within the state to port or transfer up to $500,000 of “protected” value on their homes under Save Our Homes. Florida was the first state to enact statewide portability of assessment cap benefits. Amendment 1 also expanded the homestead exemption, exempted up to $25,000 of personal property value, and imposed an assessment limit on non-homestead, non-agricultural property (Florida Revenue Estimating Conference 2020). In November 2020, Florida voters approved Amendment 5, which extended the period to port or transfer the homestead property tax benefit (the difference between a home’s assessed value and its market value, known as the “Save Our Homes” benefit) on a primary residence to a new primary residence from two years to three years (Cassels 2020).

In 1995, a group of education advocates unsuccessfully challenged the state’s education funding system on adequacy grounds in Coalition for Adequacy and Fairness in School Funding v. Chiles. In affirming the lower court’s dismissal of the case, the Florida Supreme Court emphasized the importance of the separation of powers doctrine and concluded that plaintiffs had not established an “appropriate standard for determining ‘adequacy’” that would not prevent the courts from improperly encroaching on legislative authority. Following the court’s ruling, voters amended the state constitution through the initiative and referendum process to strengthen the state’s education clause (SchoolFunding.Info).

In 2009, plaintiffs claimed the state had failed to meet the requirements of the education clause in a new case, Citizens for Strong Schools, Inc. v. Florida State Board of Education. In May 2016, a circuit court ruled in favor of the state’s board of education, with the judge finding the state’s system adequate and constitutional. His decision stated, “The weight of the evidence shows that the State has made education a top priority both in terms of implementation of research-based education policies and reforms, as well as education funding” (Rohrer 2016). In a December 2017 decision, the First District Court of Appeals upheld the circuit court’s dismissal of the case. In January 2019, the Florida Supreme Court affirmed lower-court rulings in Citizens for Strong Schools, rejecting the plaintiffs’ demand that the court articulate “what resources and standards are necessary to provide a high-quality education to Florida students” (SchoolFunding.Info).

In November 2018, Florida voters passed two property tax amendments. Amendment 2 (House Joint Resolution 21) made permanent a 10 percent assessment cap for non-homestead property that has been in place since 2008 and was set to expire at the end of 2018. The limit does not apply to school district revenues. Amendment 5 (House Bill 7001) requires a two-thirds vote of both houses of the legislature to raise any state tax or fee. Although Florida does not have a statewide property tax, the amendment applies to a state real estate transfer tax that is based on property value.

A 2023 Florida Supreme Court ruling set a legal precedent limiting homestead exemptions to non-rented portions of qualifying homes. In June 2020, Florida’s Second District Court of Appeals decided in Furst v. Rebohlz (Case No. 2D18-3323) that property assessors are not authorized to divide up a homestead for tax purposes under Florida law, and a homeowner who rents out part of the homestead to tenants is entitled to the full homestead property tax exemption. In October 2020, the Sarasota County property appraiser filed a notice to the Florida Supreme Court to challenge the appeals court decision (CBS Miami 2020). In April 2023, the Florida Supreme Court ruled in favor of the appraiser, noting the property was “effectively a boarding house” and that the rented portion of the property was ineligible for a homestead exemption since it was not the owner’s residence (Saunders 2023).

Recent Developments

A public statement by the Walt Disney Company opposing proposed Florida legislation to restrict discussion of sexual orientation and gender identity in schools led to a political tussle between the company and Florida Governor Ron DeSantis, with property tax implications. In April 2022, in response to Disney’s statement, the governor signed a bill dissolving several special tax districts, including Disney's Reedy Creek Improvement District (Senate Bill 4-C). The independent special district established by law in 1967 gave Disney authority to levy property taxes, pass local legislation, provide public services, and issue debt as an autonomous jurisdiction. The dissolution of this district would have transferred over $1 billion in debt and the financial burden of providing essential public services to Orange and Osceola counties (Florida Senate 2022).

Governor DeSantis’s office promised additional legislation to address the future of special districts and stated the new law was not expected to increase property taxes on Florida taxpayers (Schumer 2023; Valdez 2022). In February 2023, DeSantis signed House Bill 9B, which prevented the dissolution of the Reedy Creek Improvement District by renaming it the Central Florida Tourism Oversight District, and reauthorizing its ability to levy property taxes and issue debt, thereby avoiding the transferring of the district’s debt to local governments. The bill replaced the district’s governing board, previously appointed by landowners (a structure that allowed Disney, as the largest landowner, to effectively control the board), with the members appointed by the governor and confirmed by the Senate. As a result, Disney lost exclusive control of the district (Pertz 2023b).

Prior to the instatement of the new governor-appointed board, the Disney-controlled Reedy Creek board members passed agreements and restrictive covenants limiting the power of the district and preserving Disney’s control over development decisions (Durkee 2023). The new board quickly revoked the agreements, prompting Disney to file a federal lawsuit seeking to reinstate the previous board’s development agreement and overturn the legislation that gave the state authority to appoint new board members. The new board countersued Disney in federal court to uphold the revocation (Dorn 2023). Both lawsuits are pending. The first budget approved by the new board for fiscal year 2024 was up about 3 percent over fiscal year 2023, but because property values were up, the tax rate dropped slightly from $13.90 to $12.95 per $1,000 of assessed value (Swisher 2023).

In June 2020, the Florida Fifth District Court of Appeals issued its opinion in Singh v. Walt Disney Parks and Resorts US, Inc. (No. 5D18-2927, 2020 WL 3394725 (Fla. Dist. Ct. App. Aug. 7, 2020)), a property tax appeal case challenging the 2015 assessment of Disney’s Yacht and Beach Club property. In August 2020, the Fifth District Court of Appeals issued a revised opinion in Singh v. Walt Disney Park and Resorts (Case No. 5D18-2927, Corrected). In its original opinion, the court ruled that a hotel valuation method used by the Orange County property appraiser known as “Rushmore” was illegal. The Rushmore method of hotel valuation involves hotels simply deducting franchise and management fee expenses to remove intangible personal property values of hotel operation from assessment. Upon rehearing, the court rolled back its sweeping rejection of the Rushmore method itself as illegal and instead ruled that the Rushmore method as applied in this case was illegal because the county property appraiser improperly included the value of Disney’s intangible business assets, such as its brand, cash/working capital, and goodwill in its assessment of the Disney property. The court ordered the county property appraiser to reassess the Disney property (Garcia 2020a; 2020b). In September 2024, the trial court issued its final ruling, holding that its original assessment, determined during its initial trial in 2018, was highly excessive and violates Florida’s law which prohibits the inclusion of intangible properties in hotel valuations ((Consolidated Case Nos.: 2016-CA-005297-O, 2017-CA-004863-O)). Unless the Orange County property appraiser appeals, this decision concludes the lawsuit filed in 2016 by Disney, challenging the assessed values for its Yacht and Beach Club for tax years 2015 and 2016. This ruling could reverberate as Disney has filed similar lawsuits disputing assessed values for its other resorts (Hudak 2024).

Florida imposed a new tax and established new governance, administration, and accountability requirements for independent special districts with House Bill 7013 of 2024. Among the new policies were a 1-mill rate limit on mosquito control districts (up to 2 mills with voter approval), a 12-year term limit for elected members of special district governing bodies, new annual reporting requirements on performance evaluation for special district programs and activities, and new rules making it more difficult to change special district boundaries (Pertz 2024).

Beginning in 2025, Florida will adjust the dollar amount of the non-school homestead exemption each year to keep pace with inflation. Over two-thirds of Florida voters approved Amendment 5 in the November 5, 2024 election, surpassing the 60 percent approval threshold. The legislatively referred ballot measure established an annual inflation adjustment indexed to the Consumer Price Index; the Department of Revenue must adjust the exemption each January if the change is positive (Florida Amendment 5 of 2024). The non-school homestead exemption increased from $25,000 in 2024 to $25,722 in 2025 (Ballotpedia 2024).

Sources

Ballotpedia. 2020a. "Florida Amendment 5, Extend 'Save Our Homes' Portability Period Amendment (2020)". https://ballotpedia.org/Florida_Amendment_5,_Extend_%22Save_Our_Homes%22_Portability_Period_Amendment_(2020.

———. 2020b. "Florida Amendment 6, Homestead Property Tax Discount for Spouses of Deceased Veterans Amendment (2020)." https://ballotpedia.org/Florida_Amendment_6,_Homestead_Property_Tax_Discount_for_Spouses_of_Deceased_Veterans_Amendment_(2020.

———. 2022a. “Florida Amendment 1, Disregard Flood Resistance Improvements in Property Value Assessments Measure (2022).” https://ballotpedia.org/Florida_Amendment_1,_Disregard_Flood_Resistance_Improvements_in_Property_Value_Assessments_Measure_(2022.

———. 2022b. “Florida Amendment 3, Additional Homestead Property Tax Exemption for Certain Public Service Workers Measure (2022).” https://ballotpedia.org/Florida_Amendment_3,_Additional_Homestead_Property_Tax_Exemption_for_Certain_Public_Service_Workers_Measure_(2022.

———. 2024. “Florida Amendment 5, Annual Inflation Adjustment for Homestead Property Tax Exemption Value Amendment (2024).” https://ballotpedia.org/Florida_Amendment_5,_Annual_Inflation_Adjustment_for_Homestead_Property_Tax_Exemption_Value_Amendment_(2024.

Bryant Miller Olive. 2010. “Florida Ad Valorem Taxation.” Florida Association of Counties.

Cassels, Laura. 2020. “Homestead and Veterans Amendments on Smooth Road Toward Approval.” Florida Phoenix, October 26. https://www.floridaphoenix.com/2020/10/26/homestead-and-veterans-amendments-on-smooth-road-toward-approval/.

CBS Miami. 2020. “Property Tax Fight Goes to Florida Supreme Court.” October 13. https://miami.cbslocal.com/2020/10/13/property-tax-fight-goes-to-florida-supreme-court/.

Cheung, Ron, and Chris Cunningham. 2009. “Voters Hold the Key: Lock-In, Mobility, and the Portability of Property Tax Exemptions.” Working paper. Federal Reserve Bank of Atlanta. (August). www.researchgate.net/publication/46455183_Voters_Hold_the_Key_Lock-in_Mobility_and_the_Portability_of_Property_Tax_Exemptions.

Dorn, Sara. 2023. “Disney-DeSantis Feud Escalates: Board Overseeing Disney World District Countersues Company.” Forbes. May 1. https://www.forbes.com/sites/saradorn/2023/05/01/disney-desantis-feud-escalates-board-overseeing-disney-world-district-counter-sues-company/?sh=2411aa8b4bc4.

Durkee, Alison. 2023. “Disney Sues DeSantis After Board Votes to Get Rid of Special Agreement.” Forbes. April 26. https://www.forbes.com/sites/alisondurkee/2023/04/26/disney-sues-desantis-after-board-votes-to-get-rid-of-special-agreement/?sh=6f15ecb2a503.

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Florida Department of Revenue. “Property Tax Oversight.” https://floridarevenue.com/property/Pages/Home.aspx.

———. “Florida Property Tax Data Portal.” https://floridarevenue.com/property/Pages/DataPortal.aspx.

———. 2017. “Property Tax Oversight (infographic).” (March). https://floridarevenue.com/property/Documents/ptoinfographic.pdf.

———. 2025a. "Original Application for Homestead and Related Tax Exemptions." (April). https://floridarevenue.com/property/Documents/dr501.pdf.

———. 2025b. “Additional Homestead Exemption Adjustment.” (January). https://floridarevenue.com/property/Documents/2025_cpi_homestead_exemption.pdf.

Florida League of Cities. 2008. “What Is the History of Florida's Property Tax?” www.floridaleagueofcities.com/docs/default-source/Civic-Education/historyoffloridaspropertytax.pdf?sfvrsn=2.

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———. 2020b. “Court Backs Down on Controversial Disney Tax Ruling.” Orlando Sentinel, August 7. https://www.orlandosentinel.com/news/os-ne-disney-hotel-property-tax-ruling-20200807-2lnc7b2rajbq5kiuvdmcadmiwa-story.html.

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McCarthy, Regan. 2011. “Scholars: Florida's Constitution ’Easiest’ to Amend.” WFSU News, May 20. http://news.wfsu.org/post/scholars-floridas-constitution-easiest-amend.

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———. 2023a. “Florida Governor Signs Hurricane Property Tax Relief Bill.” State Tax Notes. January 2.

———. 2023b. “New Name, New Board, Same Florida Tax Privileges for Disney.” State Tax Notes. March 6. https://www.taxnotes.com/tax-notes-state/politics-taxation/new-name-new-board-same-florida-tax-privileges-disney/2023/03/06/7g042.

Rohrer, Gray. 2016. “Judge: School Funding Is 'Adequate' and Legal.” Orlando Sentinel, May 24. https://www.orlandosentinel.com/2016/05/24/judge-school-funding-is-adequate-and-legal/.

Saunders, Jim. 2023. “Supreme Court Backs Appraiser in Sarasota Homestead Fight.” Law.com. April 7. https://www.law.com/dailybusinessreview/2023/04/07/supreme-court-backs-appraiser-in-sarasota-homestead-fight/.

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Schumer, Jacob. 2023. “Disney Spat Leaves DeSantis Few Options for Reedy Creek District.” Bloomberg Tax. January 5. https://news.bloombergtax.com/tax-insights-and-commentary/disney-spat-leaves-desantis-few-options-for-reedy-creek-district.

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Swisher, Skyler. 2023. “DeSantis’ Tourism District Replaces Disney Perks With $3,000 Stipend.” Orlando Sentinel, September 27. https://www.orlandosentinel.com/2023/09/27/desantis-tourism-district-replaces-disney-perks-with-3000-stipend/.

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Valdez, Benjamin. 2022. “Florida Governor Signs Bill to End Disney's Special Tax District.” Tax Notes State. May 2. https://www.taxnotes.com/tax-notes-state/legislation-and-lawmaking/florida-governor-signs-bill-end-disneys-special-tax-district/2022/05/02/7df0v.

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