Florida Property Tax Bill: Save 4% by Paying in November

If you own a home in Florida, your property tax bill arrived or is arriving now. For retirees on a budget, this is one of the easiest places to save money, and one of the most misunderstood.

The Short Answer

Florida property tax bills are mailed around November 1, and you get a 4% discount if you pay in November. The discount drops to 3% in December, 2% in January, and 1% in February. Payments in March carry no discount, and taxes become delinquent after March 31.

On a $3,500 annual bill, paying in November instead of March saves about $140.

How the Discount Schedule Works

If you pay from a mortgage escrow account, your lender usually pays the bill in November for you. If you pay cash, you are in charge of the date. Put it on your calendar.

What Is on Your Bill

A Florida tax bill has two parts, and many new owners miss the second one.

• Ad valorem taxes. These are the taxes based on your assessed value: county, school board, city, and special districts.
• Non-ad valorem assessments. These are flat charges for things like trash pickup, stormwater, fire service, and in some communities a CDD assessment. I covered this in my post on CDD vs. HOA fees.

When you compare a listing's "estimated taxes" to what you will pay, ask whether the figure includes the non-ad valorem line.

Check Your Homestead Exemption

If this is your primary home, make sure the homestead exemption shows up on your bill. It lowers your taxable value and, through the Save Our Homes cap, limits how fast your assessed value can rise each year. If you moved here this year, you had until March 1 of the year you move in to apply, so confirm the filing was accepted. My homestead exemption guide walks through the steps.

Why Your Bill May Jump After a Purchase

This surprises a lot of buyers. The previous owner's bill may have been low because the Save Our Homes cap held the assessed value down for years. When the property sells, the assessment resets toward market value. Do not use the seller's current tax bill to estimate your own. Ask your agent to estimate taxes based on the purchase price and the local millage rate.

A Quick Checklist

1. Check the assessed value and the exemptions listed.
2. Add the ad valorem and non-ad valorem lines so you know your true total.
3. Decide whether to pay in November, or confirm your lender is paying it.
4. If something looks wrong, contact the Lake County Property Appraiser promptly. Value disputes have deadlines.

The Bottom Line

Paying in November is a guaranteed 4% return on money you owe anyway. If you are weighing a move to Clermont and want to know what the tax bill on a specific home will look like, I can help you estimate it. Start with my Buy a Home page or call me directly.

This article is general information, not tax advice. Confirm dates and amounts with the Lake County Tax Collector.