How much are your Miami property taxes?

How much are your Miami property taxes?

Taxes in Florida are based on a municipalities millage rate. The millage rate is the amount per $1,000 used to calculate taxes on property. For instance a home assessed at $1,000,000 in Coral Gables in 2017 is looking at a millage rate of 18.71 or 1.87%, equaling an annual tax bill of $18,700. Note, this is not taking into consideration any exemptions the property owner may be eligible for.

The lowest rate is actually in one of Miami’s wealthiest neighborhoods, Key Biscayne at 1.62%. The tax rate averages between +/- 1.6% – 2.5% over all municipalities in Miami Dade. Biscayne Park currently holds the highest tax rate at 2.53%.

The tax rate below combines all of the property taxes a city resident pays:

Note, tax rates are applied to a home’s tax-assessed value. Reach out to us if you questions regarding your home or the tax implications if you are moving locations.


Lindsey Brown P.A
EWM Realty International

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