Property Taxes, Homestead & Ownership Costs in Florida

1. How do property taxes work in Pinellas and Hillsborough County?

Taxes are based on assessed value and local millage rates, which vary by city. Two similar homes can have very different tax bills depending on exemptions and assessment history.

2. What is Florida’s homestead exemption?

Homestead can lower taxable value and cap future increases for primary residences. It’s one of the biggest financial advantages of owning in Florida—but it must be applied for.

3. Will my taxes go up after I buy?

Usually, yes. When a home sells, the assessed value often resets closer to market value. Buyers should never assume they’ll pay the seller’s current tax amount.

4. Are waterfront homes taxed differently?

They’re assessed higher due to value, but exemptions still apply. Waterfront ownership costs are more affected by insurance than taxes.

5. How can buyers estimate taxes accurately?

Run projections based on purchase price and exemptions—not listing data. This step alone can prevent budget surprises.