How much do you know about your taxes?

Posted on January 4, 2019

The Florida Constitution reserves all revenue from property taxes for local governments (city, county, school board, etc.), as the state itself doesn’t use any of this money.

Property taxes are based on the “just value” or market value of properties as assessed by the local property appraiser on Jan. 1 of each year. Increases in value are limited to 3% of the previous year’s assessment or the Consumer Price Index (CPI) in Florida, whichever is less. This limitation is known as the “Save Our Homes” cap.

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