If you own a home in Florida, your property taxes are not one single tax from one single office. It is a combined total based on your home’s value and the tax rates set by local taxing authorities, then billed and collected by your county tax collector.
For Palm Beach County homeowners, the same system applies, just with local offices handling the details.
The three numbers that decide your bill
Florida property taxes usually come down to three things:
1) Just value (market value)
This is the property appraiser’s estimate of what the property is worth as of the assessment date for that year.
2) Assessed value
This is the value used for tax purposes after assessment rules are applied. If you have a homestead exemption, your assessed value growth may be limited by the Save Our Homes cap over time.
3) Taxable value
This is what you are actually taxed on after exemptions are subtracted, like the homestead exemption.
Millage rate, in plain English
A millage rate is basically “tax dollars per $1,000 of taxable value.” One mill equals $1 in tax for every $1,000 of taxable value.
A simple way to think about the math:
- Take your taxable value
- Divide by 1,000
- Multiply by the total millage rate
That is the core calculation.
What is the TRIM notice and why it matters
Every year, Florida homeowners get a TRIM notice. TRIM stands for Truth in Millage. This notice is mailed by the property appraiser and is designed to show your values, exemptions, and the proposed tax rates before the final bill is issued.
This is the paper that tells you, early, if your assessed value jumped or if an exemption is missing.
Why taxes often jump after someone buys a home in Florida
This catches a lot of buyers off guard.
If the previous owner had homestead protection, their assessed value might have been held down for years by Save Our Homes. When the property is sold, that limitation can come off and the assessed value can reset closer to market value. That is why the taxes on a home you are buying can be very different from what the seller was paying.
Homestead exemption and Save Our Homes
If the home is your primary residence and you qualify, Florida’s homestead exemption can reduce your taxable value, which reduces your tax bill. Palm Beach County’s property appraiser also highlights key requirements and deadlines, including being eligible as of January 1 and filing by March 1.
Then there is the Save Our Homes benefit: once homesteaded, the assessed value increase each year is limited to 3% or CPI, whichever is lower.
Portability, if you are moving within Florida
If you have a homestead benefit on your current home and you buy a new primary residence, you may be able to transfer part of that benefit. In Palm Beach County, the property appraiser notes portability is filed with your homestead application, and the deadline is March 1.
When taxes are due in Palm Beach County
In Palm Beach County, property taxes are payable from November 1 to March 31 each year.
Florida also allows early payment discounts. The state tax calendar references a 4% discount for November payments, and local Palm Beach County messaging promotes the same discount ladder as you pay earlier in the season.
A quick example (simple math)
Let’s say your taxable value is $500,000 after exemptions.
Let’s say the combined millage rate is 20 mills.
- $500,000 ÷ 1,000 = 500
- 500 × 20 = $10,000 estimated annual property tax
Your real number depends on your exact taxable value, your exemptions, and the final millage rates adopted for your area.
Quick FAQ
Is the TRIM notice the bill?
No. It is an informational notice sent by the property appraiser so you can review values and proposed rates before the tax bill is finalized.
Who sets the tax rates?
Local taxing authorities set millage rates, and the tax collector applies those rates to your taxable value to calculate and collect the bill.
What is the biggest legal way homeowners reduce property taxes in Florida?
Homestead exemption and the Save Our Homes cap are the big ones for primary residences.
