Christian’s perspective:
Property taxes in Miami-Dade County are based on the assessed value of the property and the millage rates set by various taxing authorities, including the county, municipality, school district, and special districts. The effective combined rate typically falls between 1.5% and 2.2% of the assessed value annually, depending on the specific location within the county.
Florida law provides important protections for primary homeowners through the Homestead Exemption, which reduces the assessed value by up to USD 50,000 for qualifying owner-occupants. The Save Our Homes amendment further caps annual increases in assessed value at 3% or the rate of inflation, whichever is lower — a meaningful benefit for long-term owners.
Non-homestead properties, including investment condos and second residences owned by non-residents, do not benefit from these protections. For these buyers, assessed value can increase by up to 10% per year, and the full market value is typically used as the assessment basis, particularly following a sale.
For a concrete estimate, I recommend requesting a tax projection from the Miami-Dade Property Appraiser’s office or reviewing the most recent tax bill for the specific property. New buyers should not assume that the seller’s tax bill reflects what they will owe after closing.