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Property Tax In Florida

There are two types of Ad Valorem taxes collected by the Miami-Dade County Tax Collector's Office - real estate property taxes and tangible personal property taxes.

Ad Valorem is a Latin term which means “according to value.”

Ad Valorem taxes commonly referred to as property taxes are based on the assessed value determined by the Property Appraiser as of January 1.

Real estate property taxes are ad valorem taxes assessed according to the value of land, buildings and improvements to the land to include single family, multi-family, residential, condominium, cooperatives, townhouses, time share developments and mobile homes. Real estate property taxes also include taxes based on the assessed value for vacant land, residential land, commercial land or agricultural land.

Tangible personal property taxes are ad valorem taxes assessed according to the value of the assets used in a business to derive income such as equipment, fixtures, leased equipment or furniture and appliances used in a rental property or any attachment made to a mobile home or manufactured in a rental park located in businesses and rental property.

Local governments known as taxing authorities such as the School Board, Florida Inland Navigation District, South Florida Water Management District, Children's Trust, Miami-Dade County and municipal governments establish millage rates (tax rates), which are multiplied against the assessed value of your property minus exemptions to determine the amount of tax due.