Miami Beach, Florida Property Taxes
The median property tax rate in Miami Beach, FL is 1.69%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Miami Beach at $391,790, the typical annual property tax bill reaches $6,004, exceeding the national median of $2,690. Property taxes in Miami Beach are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Miami Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Miami Beach or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Miami Beach, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$6,621
$6,266
$1,148
Average Miami Beach, Florida Tax Savings
Ownwell’s Miami Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miami Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miami Beach to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Miami Beach. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Miami Beach, Florida
Property taxes in Miami Beach, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miami Beach is 1.69%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Miami Beach set these rates annually, and they can vary considerably across different neighborhoods. Each year, Miami Beach estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Miami Beach's effective property tax rate to other areas in Miami-Dade County and the national median. For comparison, the 33154 zip code has the highest median property tax rate of 1.77%, while the 33109 zip code has the lowest median tax rate of 1.38%. Understanding how these areas compare with Miami Beach provides valuable insights into the varying tax landscape across Miami-Dade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miami Beach Tax Rate
1.69%
Average Miami-dade County Tax Rate
1.41%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miami Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33109 | 0.78% | 1.20% | 1.38% | 1.59% | 1.71% |
| 33139 | 0.91% | 1.52% | 1.70% | 1.84% | 1.89% |
| 33140 | 0.65% | 1.31% | 1.69% | 1.84% | 1.89% |
| 33141 | 0.48% | 1.18% | 1.66% | 1.81% | 1.89% |
| 33154 | 1.64% | 1.69% | 1.77% | 1.85% | 1.90% |
Source: Ownwell
$1,148
Average Miami Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Miami Beach, Florida
In Miami Beach, Florida, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Miami-Dade County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Miami Beach, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price is $391,790, with tax bills ranging significantly. For instance, the highest median tax bill is $49,479 in the 33109 zip code, while the lowest is $4,417 in the 33141 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Miami Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Miami Beach, Florida
Source: Ownwell
$160,056
$16,966,420
$33,772,783
Average Miami Beach Assessed Value
$391,790
Average Miami-dade County Assessed Value
$372,000
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miami Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33109 | $751,842 | $2,410,929 | $4,291,040 | $7,302,462 | $12,126,124 |
| 33139 | $157,000 | $214,000 | $332,100 | $780,970 | $2,120,227 |
| 33140 | $235,704 | $328,289 | $507,845 | $1,263,818 | $2,739,187 |
| 33141 | $146,366 | $194,820 | $298,020 | $679,308 | $1,724,761 |
| 33154 | $955,442 | $957,548 | $961,058 | $964,568 | $966,674 |
Source: Ownwell
$1,148
Average Miami Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Miami Beach, Florida
Property tax bills in Miami Beach, located in Miami-Dade County, are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate. For Miami Beach, property tax rates can vary, leading to a wide range of tax bills. Median home prices in the area are around $391,790. Homeowners in the 25th percentile can expect tax bills around $3,479, while those in the 75th percentile face bills closer to $12,357. The highest median tax bill in the area can reach up to $49,479 in zip code 33109, while the lowest is around $4,417 in zip code 33141. Ownwell helps homeowners by analyzing their property assessments and identifying potential errors or overvaluations. By appealing these assessments and applying for eligible exemptions, Ownwell can significantly reduce property tax bills, ensuring homeowners pay only their fair share. This service can be particularly beneficial in areas with high property values and substantial tax bills.
Average Miami Beach Tax Bill
$6,004
Average Miami-dade County Tax Bill
$4,524
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Miami Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33109 | $10,686 | $29,312 | $49,479 | $93,982 | $154,346 |
| 33139 | $2,133 | $3,333 | $5,254 | $11,599 | $30,616 |
| 33140 | $3,226 | $4,946 | $7,672 | $14,196 | $33,283 |
| 33141 | $1,779 | $2,742 | $4,417 | $9,536 | $20,097 |
| 33154 | $15,829 | $16,262 | $16,982 | $17,703 | $18,135 |
Source: Ownwell
$1,148
Average Miami Beach Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 17 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Miami-Dade Property Appraiser | |
| Phone | (305) 375-4050 |
| Website | www.miamidade.gov |
| mdcpa@mdcpa.net | |
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