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South Miami, Miami-dade County, Florida Property Taxes

  • Median South Miami, FL effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median South Miami, FL home value: $590,382

  • Median annual South Miami, FL tax bill: $5,770, $3,370 higher than the national median property tax bill of $2,400.

How are property taxes in Miami-Dade calculated?

Property taxes in South Miami, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding South Miami’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in South Miami, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

South Miami, Miami-dade County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$7,734

$7,177

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s South Miami Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in South Miami with just two data points. By entering your property's estimated assessed value, our calculator applies South Miami’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Miami-Dade. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across South Miami, Miami-dade County, Florida

Local government entities in Florida set property tax rates, which can vary widely within the state. Each year, counties estimate their required budgets to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In South Miami, located in Miami-Dade County, the property tax rate reflects this process. The effective property tax rate here can be compared to other cities in Florida and the national average. Miami-Dade County's median property tax rate is 1.31%, which is above the national median of 1.02%. Within the county, the highest median property tax rate is also 1.31% in the 33143 zip code, while the lowest is 0.98% in the 33155 zip code. Comparing these rates provides insight into how South Miami's property taxes stack up against other regions, highlighting the importance of understanding local tax dynamics.

Property Tax Rates Across South Miami, Miami-dade County, Florida

Source: Ownwell

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0.70%

1.45%

2.21%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective South Miami Tax Rate

1.31%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Miami-dade County Tax Rate

1.41%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across South Miami, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
331430.40%0.71%1.31%1.70%1.88%
331550.38%0.53%0.98%1.68%1.93%

Source: Ownwell

Property Tax Assessment Values Across South Miami, Miami-dade County, Florida

When examining property taxes in South Miami, FL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Miami-Dade County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Miami-Dade County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in South Miami. For example, the median home price in South Miami is $590,382, with tax bills ranging significantly across the county. Zip code 33143 has the highest median home price at $590,785.

Property Tax Assessment Values Across South Miami, Miami-dade County, Florida

Source: Ownwell

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$160,056

$16,966,420

$33,772,783

Median South Miami Market Value

$590,382

Median Miami-dade County Market Value

$372,000

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across South Miami, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33143$223,581$354,756$590,785$779,226$1,091,249
33155$279,952$279,952$279,952$279,952$279,952

Source: Ownwell

Property Tax Bills Across South Miami, Miami-dade County, Florida

In South Miami, located in Miami-Dade County, FL, property tax bills are calculated based on the assessed value of a home. This value is determined by the county assessor, who considers factors such as the property's market value, location, and any improvements made. The median home price in South Miami is $590,382, which influences the tax bill homeowners receive. The median property tax bill in the area varies significantly, with the 25th percentile at $3,543 and the 75th percentile reaching $9,400. Some homeowners face even higher bills, with the 90th percentile at $13,810. Compared to the national median property tax bill of $2,400, South Miami's rates are notably higher. This can place a significant financial burden on homeowners. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and secure exemptions, potentially reducing their tax bills. By leveraging expertise in local tax regulations, Ownwell can help homeowners achieve significant savings and alleviate the financial strain of high property taxes.

Property Tax Bills Across South Miami, Miami-dade County, Florida

Source: Ownwell

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$1,863

$228,510

$455,156

Median South Miami Tax Bill

$5,770

Median Miami-dade County Tax Bill

$4,524

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across South Miami, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33143$2,144$3,562$5,770$9,483$13,869
33155$1,051$1,473$2,733$4,896$5,393

Source: Ownwell

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