Property Taxes in North Miami

A clear guide to understanding Miami-Dade County property taxes, millage rates, and exemptions for North Miami homeowners.

Property taxes are a significant part of homeownership costs in North Miami, FL. This guide explains how they are calculated, what the current rates are, and what exemptions are available to residents within the official North Miami city limits.

Property taxes in North Miami are determined by two main factors:

1. Assessed Value: The Miami-Dade County Property Appraiser determines the value of your home.
2. Millage Rate: This is the tax rate, set per $1,000 of assessed value. It's a combination of rates from the county, the school board, the City of North Miami, and other taxing authorities.

Formula: (Assessed Value / 1,000) * Millage Rate = Property Tax Bill

While millage rates change annually, the total combined rate for a North Miami resident is an aggregate of multiple taxing districts. Homeowners can view their specific property's tax bill and the applicable rates on the Miami-Dade County Property Appraiser's website.

Florida offers several property tax exemptions, the most common being the Homestead Exemption, which can reduce the taxable value of a primary residence by up to $50,000. It also activates the "Save Our Homes" cap, limiting future increases in the assessed value.

Other exemptions may be available for seniors, veterans, and individuals with disabilities.

The City of North Miami sets its own millage rate as part of its annual budget, which contributes to the total tax bill. This portion of the tax funds local services like the North Miami Police Department, parks, and infrastructure within city limits.

• View the North Miami Buying Guide
• Learn About North Miami Closing Costs
• Compare Home Values by Neighborhood