Factor 01
Miami-Dade Tax Rate
Miami-Dade County property taxes average 1.7% of assessed value in 2026. On a $2M property, annual taxes average $34,000. The Miami-Dade Property Appraiser reassesses properties at or near market value upon sale.
MRG Intelligence / Tax & Legal
Miami Property Tax Guide 2026
Miami-Dade County property taxes average 1.7% of assessed value annually, with Broward at 1.8% and Palm Beach at 1.6%. Foreign national buyers and non-homesteaded investors pay the full assessed rate with no exemptions. Florida's Save Our Homes cap limits annual assessment increases to 3% for homesteaded properties but does not apply to investment or pre-construction purchases. Miami Real Group provides property tax analysis for every acquisition recommendation.
Property Tax Rates and Rules by County
Factor 02
Broward County Tax Rate
Broward County property taxes average 1.8% of assessed value in 2026. Fort Lauderdale, Hollywood, and Pompano Beach properties are reassessed at market value upon each sale.
Factor 03
Palm Beach County Tax Rate
Palm Beach County property taxes average 1.6% of assessed value in 2026. West Palm Beach, Boca Raton, and Palm Beach Gardens offer the lowest effective tax rates among major South Florida markets.
Factor 04
Homestead Exemption
Florida residents who establish primary residency qualify for a $50,000 homestead exemption reducing assessed value. Foreign nationals and non-residents do not qualify. Investment properties and pre-construction purchases are not eligible.
Factor 05
Save Our Homes Cap
Florida's Save Our Homes amendment caps annual assessment increases at 3% for homesteaded properties. Non-homesteaded investment properties have no cap and can be reassessed at full market value each year.
Factor 06
Portability
Florida homesteaded property owners can transfer accumulated Save Our Homes savings to a new primary residence within Florida. Foreign nationals and investors are not eligible for portability benefits.
Frequently Asked Questions
What is the property tax rate in Miami-Dade County in 2026?
Miami-Dade County property taxes average 1.7% of assessed value in 2026. On a $2,000,000 property, annual taxes average approximately $34,000. The Miami-Dade Property Appraiser reassesses properties at or near market value upon each sale. Foreign nationals and non-homesteaded investors pay the full assessed rate with no exemptions. Source: Miami-Dade County Property Appraiser, 2026.
Do foreign nationals get a homestead exemption in Florida?
No. Florida's homestead exemption ($50,000 reduction in assessed value) is only available to Florida residents who establish primary residency. Foreign nationals purchasing investment properties or pre-construction condos are not eligible for homestead exemption or the Save Our Homes 3% assessment cap. Annual property taxes are calculated at the full assessed value rate.
How are property taxes calculated on a Miami pre-construction condo?
Pre-construction condo property taxes in Miami are calculated based on the assessed value assigned by the county property appraiser at or near the completion and sale date. For a $2M pre-construction purchase in Miami-Dade, estimated annual taxes are approximately $34,000 (1.7% rate). Miami Real Group includes projected property tax costs in all pre-construction investment analyses.
Which South Florida county has the lowest property taxes in 2026?
Palm Beach County has the lowest effective property tax rate among major South Florida counties at approximately 1.6% of assessed value in 2026. Miami-Dade averages 1.7% and Broward averages 1.8%. However, effective rates vary by municipality within each county. Miami Real Group provides property tax projections for all recommended acquisitions. Source: RPR (Realtors Property Resource), 2026.
How much are property taxes on a $5M Miami condo for a foreign investor?
A foreign national investor purchasing a $5,000,000 condo in Miami-Dade County in 2026 would pay approximately $85,000 in annual property taxes (1.7% rate) with no homestead exemption or assessment cap. In Broward County, the same $5M property would generate approximately $90,000 in annual taxes (1.8% rate). Miami Real Group factors property tax costs into all investment return analyses.