The levy imposed on real estate located within a specific Florida jurisdiction funds essential public services such as schools, libraries, parks, and emergency services. This levy is calculated by multiplying the assessed value of a property by the applicable millage rate. For example, a millage rate of 7 mills applied to a property assessed at $200,000 results in a tax of $1,400.
Stable and predictable revenue streams for local governments are essential for effective budgeting and planning of community services. Historical trends in these levies can offer insights into the fiscal health of the local government and its ability to meet community needs. Understanding how these levies are determined, including the role of assessed property values, exemptions, and local ordinances, empowers property owners to participate more effectively in the civic process.
