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Miami-Dade’s four property taxes fund county operations, generating more than $2 billion a year. Combined, they total $929 for every $100,000 of a property’s taxable value.
Miami commissioners on Thursday voted to reduce the property tax rate to the lowest level since the 1960s.
Will local governments cut tax rates to offset another surge in property values? Property values are up 12% in Miami-Dade, but some markets surged more. Read the data
Miami-Dade County Mayor Daniella Levine Cava prepared a 2023 budget with a 1% cut in property-tax rates, which was less than the 3% reduction sought by other elected officials as property values ...
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year.
Florida property tax homestead exemption reduces the value of a home for assessment of property taxes by $50,000, so a home that was actually worth $100,000 would be taxed as though it was worth only $50,000. However, the second $25,000 of homestead coverage does not apply to the school portion of property taxes, and only applies to the third ...
Miami-Dade Mayor Daniella Levine Cava knows county residents are in a severe financial squeeze as inflation bears down on them — and she’s proposing to ease the pain.
Currently, the existing debt tax costs Miami-Dade homeowners about $44 for every $100,000 of their property’s taxable value, down from $49 last year. If voters approve borrowing another $2.5 ...