How Broward County Property Tax Works
Florida property tax starts with the property appraiser's assessment of your home's just value (market value). If you qualify for the Homestead Exemption, two things happen: your assessed value is capped at a 3% annual increase over the prior year (the "Save Our Homes" cap), and your taxable value is reduced by the standard homestead exemption.
Your taxable value is then multiplied by the combined millage rate — the sum of all taxing authorities covering your parcel (county, city, school district, water management district, and any special districts). A mill equals $1 of tax per $1,000 of taxable value. Broward County's combined millage for most properties runs approximately 19.84 mills, though the exact rate varies by city and district.
For FY2026, the Broward County Commission lowered the countywide millage to 5.6658 mills — the first reduction since 2018. That is the county portion only. School, city, and special district millage add the rest to reach the ~19.84 total.
The Save Our Homes Trap for New Buyers
A long-time owner's assessed value is capped at 3% annual increases, regardless of how much the market value has risen. So a homeowner who bought at $150K in 2010 may have an assessed value of $200K in 2026, even though the market value is $300K. They pay tax on $200K. When you buy that same home for $300K, the Save Our Homes cap resets — your assessed value is $300K, and your tax bill is 50% higher than the seller's. The tax line on the listing is their bill, not yours. Always calculate your year-one tax based on the purchase price, not the seller's assessment.
The Homestead Exemption — How It Works
Florida's Homestead Exemption is two stacked exemptions on your property's assessed value. The first $25,000 is exempt from all property taxes — school, county, city, and special districts. The second $25,000 (technically $25,722 for 2025 due to the Amendment 5 CPI adjustment) is exempt from everything except school taxes, and only applies to the portion of assessed value between $50,000 and $75,000.
The practical effect: on a homesteaded property, approximately $50,000 is removed from your taxable value for non-school taxes, and $25,000 is removed for school taxes. The net tax savings depend on the millage rate but typically range from $800 to $1,200/year.
To qualify: the property must be your primary residence as of January 1 of the tax year. File Form DR-501 with the Broward County Property Appraiser (BCPA) by March 1. You need a Florida driver's license or ID showing the property address, Florida voter registration or declaration of domicile, and vehicle registration reflecting the Florida address. Once granted, the exemption automatically renews annually.
Year-One Tax at Every Price Point
| Purchase Price | Assessed Value (Year 1) | Taxable Value (Homesteaded) | Estimated Annual Tax | Monthly Equivalent |
|---|---|---|---|---|
| $100,000 | $100,000 | ~$50,000 | $992 | $83 |
| $150,000 | $150,000 | ~$100,000 | $1,984 | $165 |
| $200,000 | $200,000 | ~$150,000 | $2,976 | $248 |
| $250,000 | $250,000 | ~$200,000 | $3,968 | $331 |
| $350,000 | $350,000 | ~$300,000 | $5,952 | $496 |
| $500,000 | $500,000 | ~$450,000 | $8,928 | $744 |
| $750,000 | $750,000 | ~$700,000 | $13,888 | $1,157 |
| $1,000,000 | $1,000,000 | ~$950,000 | $18,848 | $1,571 |
Estimates assume 19.84 mills combined rate and standard homestead exemption. Actual tax varies by city and special district. Use the BCPA millage lookup at bcpa.net for your specific address. Non-homesteaded properties (investment, seasonal, rental) pay higher tax — no exemption applied.
Additional Exemptions for 55+ Buyers
Senior Exemption (Age 65+)
Broward County offers an additional homestead exemption for residents age 65 and older whose household income falls below a threshold set annually by the Florida Department of Revenue (approximately $36,614 for 2025). If you qualify, this exemption can reduce your taxable value by an additional $50,000 — effectively doubling the standard homestead exemption. The income limit is household income, not individual — both spouses' income counts. File with the BCPA by March 1 with proof of age and income.
Disability Exemptions
Veterans with a service-connected total and permanent disability may qualify for a full exemption of their homestead property from all ad valorem taxes. Surviving spouses of first responders or military members who died in the line of duty may also qualify for total exemption. Non-veteran disabled homeowners may qualify for a $500 disability exemption. Contact the BCPA for specific eligibility requirements and documentation.
Portability — Transferring Your Save Our Homes Benefit
If you're selling a homesteaded property in Florida and buying a new one in Broward County, you can transfer up to $500,000 of your accumulated Save Our Homes benefit (the difference between your assessed value and market value) to the new property. This is called "portability" and can save thousands in annual property tax. File within 3 years of the homestead on the new property. This is the most valuable and least-understood tax benefit available to Florida residents moving within the state.
How Broward Compares to Other Florida 55+ Markets
| County | Approx. Combined Millage | Tax on $250K Home (Homesteaded) | Monthly Equivalent |
|---|---|---|---|
| Broward | ~19.84 mills | $3,968 | $331 |
| Palm Beach | ~19.50 mills | $3,900 | $325 |
| Sarasota | ~16.50 mills | $3,300 | $275 |
| Polk (Lakeland) | ~18.00 mills | $3,600 | $300 |
| Sumter (The Villages) | ~14.00 mills | $2,800 | $233 |
| Marion (Ocala) | ~15.50 mills | $3,100 | $258 |
Broward's tax rate is on the higher end of Florida's 55+ markets, but not dramatically so. The difference between Broward and Sumter County (The Villages) on a $250K home is $1,168/year — meaningful but not market-moving. The bigger cost differentiators in Broward are HOA fees and insurance, not property tax.
The Early Payment Discount — Save 4%
Broward County property taxes are due November 1 and delinquent April 1. But Florida offers discounts for early payment: 4% discount in November, 3% in December, 2% in January, 1% in February. On a $4,000 tax bill, paying in November saves $160. On a $10,000 bill, it saves $400. There is zero reason not to pay in November if you have the cash available — it's a guaranteed 4% return on 5 months of early payment.
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