Ad Valorem Tax

In Florida, property taxes and real estate taxes are also known as ad valorem taxes. Ad valorem means, ''based on value". The greater the value, the higher the assessment. Taxes usually increase along with the assessments, subject to certain exemptions.

The property appraiser is not the person who determines the amount of taxes levied. Those who are responsible are known as the taxing authorities, examples being the county commission, school board, cities, fire departments and water management districts. The property appraiser's responsibility is to determine market value of your property and to maintain equity within the tax roll. The assessed value of your property is only one part of the equation.

Assessed Value - Provided by the Property Appraiser
Exemptions - Granted by the Property Appraiser
Millage Rate - Determined by Taxing Authorities
Taxes Payable - A mathematical calculation

Example:
Assessed Value $100,000.00
Homestead Exemption - $ 25,000.00
Taxable Value $ 75,000.00
Millage Rate (16 mills) x .016
Taxes Payable $1,200.00