Comparison of Market and Assessed Values
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Comparison of Taxables Values, Ad valorem Taxes and Millage Rates by Taxing Authority
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County
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$222,850
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5.2907
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$1,179.03
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$231,035
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5.2823
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$1,220.40
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$41.36
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DDA
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$222,850
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0.4673
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$104.14
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$231,035
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0.4312
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$99.62
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($4.52)
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Miami
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$222,850
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7.4843
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$1,667.88
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$231,035
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7.1364
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$1,648.76
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($19.12)
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Miami Debt
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$222,850
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0.3235
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$72.09
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$231,035
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0.2536
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$58.59
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($13.50)
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School Board
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$247,850
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6.6990
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$1,660.35
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$256,035
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6.6020
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$1,690.34
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$30.00
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Everglades CP
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$222,850
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0.0327
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$7.29
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$231,035
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0.0327
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$7.55
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$0.27
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F.I.N.D.
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$222,850
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0.0288
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$6.42
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$231,035
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0.0288
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$6.65
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$0.24
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Okeechobee Basin
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$222,850
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0.1026
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$22.86
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$231,035
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0.1026
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$23.70
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$0.84
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S.F.W.M. District
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$222,850
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0.0948
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$21.13
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$231,035
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0.0948
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$21.90
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$0.78
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The Children's Trust
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$222,850
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0.5000
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$111.43
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$231,035
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0.5000
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$115.52
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$4.09
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Overall Comparison of Non-Ad Valorem Taxes
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No Non-Ad Valorem Assessments
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$0.00
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No Non-Ad Valorem Assessments
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$0.00
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Overall Comparison of Ad Valorem Non-Ad Valorem
Taxes
Change as a Result of Millage Rates
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($131.64)
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Change as a Result of Assessed Value
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$172.08
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2023 - 2024 Total Change in Ad Valorem Taxes
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$40.44
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Change in Non-Ad Valorem Taxes
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$0.00
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2023 - 2024 Total Change in Ad Valorem and Non-Ad Valorem Taxes
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$40.44
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¹
Increase for 2024 is limited to 3.00% for Homestead properties and 10.00% for Non-Homestead Properties
(This Limitation does not apply to any New Construction)
² A = Adopted
Millage P = Proposed Millage R = Roll Back Millage Rate
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DISCLAIMERS AND GLOSSARY OF TERMS
Disclaimer
The comparison calculator is intended to illustrate the
effect millage rates and value changes have on taxes. Official notices such as
the Notice of Proposed Property Taxes (Truth in Millage - TRIM) is your legal
notification. The property appraiser’s office disclaim liability for any errors,
either by omission or commission, regarding this comparison calculator and the
comparisons produced by its use
Proposed and Adopted Millage Rates
Until the taxing authorities have
concluded their budget hearings and adopted their final millage (tax) rates, the
rates used in the comparison calculator will reflect the proposed tax rates.
Upon conclusion of the budget hearings, the final adopted tax rates will be
incorporated in this comparison calculator.
Increases in Assessed Values
Since 1994, the assessed values on
properties with a Homestead Exemption have increased a maximum of only 3% or the
Consumer Price Index (CPI), whichever is lower, each year under a benefit known
as Save Our Homes (SOH). As a consequence, even when market values were
increasing by double digits, SOH kept assessed values much lower than the market
values. As long as the assessed value of your home remains lower than the market
value, the SOH law requires the Property Appraiser to re-assess all properties,
which have typically increased no more than 3%. For 2011, that increase is the
CPI of 1.5%.
Exemption benefits and changes in ownership or use
If you purchase a
home after January 1st, you may inherit the previous owner’s Homestead Exemption
and assessment limitation for that year. However, the following year the
homestead exemption and assessment limitation will be removed, which may result
in a higher assessed value.
Non-Ad Valorem Assessments
These are assessments for Special
District Services, such as garbage collection, and Community Development
Districts (CDDs). They are included in the Tax Comparison Calculator however,
they are not affected by changes in value or the millage (tax) rate.
Value Adjustment Board changes
Pending prior year changes pursuant
to a Petition may not be reflected on the Tax Comparison Calculator.
Millage (tax) Rates
Millage (tax) rates are determined by taxing
authorities, not the Property Appraiser’s Office. In cases where a taxing
authority does not set a proposed tax rate, the Property Appraiser is
statutorily required to calculate the “Rolled-Back” rate. However, the final tax
rates used to calculate tax bills mailed by the Tax Collector in November must
be set by the taxing authorities.
Discrepancies
The current years proposed millage rates are being
updated to the actual millage rates as the taxing authorities ratify their
respective rates. This may cause the amounts reflected on the comparison
calculator to change.
Assessed value
The assessed value represents applicable deductions
from the market value. These deductions include the Save Our Homes assessment
limitation for a property receiving Homestead Exemption and a ten percent (10%)
cap for non-homesteaded properties.
Cap Savings
Cap savings is the actual value deducted from the market
value of any applicable Save Our Homes assessment limitation and/or ten percent
(10%) cap for non-homesteaded properties.
Taxable Value
Taxable value is the assessed value minus all
applicable exemptions. Property taxes are levied on taxable values. Not all
exemptions and cap benefits apply equally to all taxing authorities, resulting
in multiple taxable values.
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