Example of Broward County Property Tax Calculation
Broward County calculates property tax based on the assessed value of the property. The assessed value of a property is determined by the Broward County Property Appraiser's Office. Once the assessed value is determined, the county applies a millage rate to the property. The millage rate is a percentage rate used to calculate the property tax based on the assessed value.
For example, if the assessed value of a property in Broward County is $300,000 and the millage rate is 10 mills, then the property tax would be $3,000 (300,000 x 0.01 x 10). It's important to note that the millage rate can vary depending on the location of the property and the services provided by the county.
Property owners in Broward County can expect to receive their property tax bill in November and have until the end of March to pay it. Property taxes are used to fund various public services such as schools, police and fire departments, and infrastructure projects.
If you want appeal your property tax assessment - contact your local tax assessor.
Broward County Property Tax Rates
The following table displays the current Broward County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Countywide | $5.4450 |
| Municipal Solid Waste | $0.4560 |
| Health Care | $0.1700 |
| Children's Services | $0.1400 |
| Library | $0.3920 |
| Community Redevelopment Agencies | Varies by District |
It is important to note that the rates may vary depending on the location and type of property. As a tax advisor, it is recommended to review the individual property's assessment and applicable exemptions in order to determine the exact tax amount.
Who sets property tax rates in Broward County ?
In Broward County, Florida, the property tax rates are set by the Board of County Commissioners. This happens annually, typically during the months of August and September. The rates are based on the county's budget needs and are set to ensure that the county can provide essential services to its residents. Property tax rates are determined by a formula that takes into account the total taxable value of properties in the county as well as the county's budget requirements. It's important for property owners to stay informed about these rates as they can directly impact their tax bills.
Homestead exemptions in Broward County ?
In Broward County, Florida, there are a variety of Homestead exemptions and deductions available. To make it easy for you to understand, we have listed them in a table with columns for exemption, eligibility, amount, and notes.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Primary residence of the homeowner as of January 1st of the current year. | Up to $50,000 in property value exemption. | Must file by March 1st of the current year. |
| Senior Citizen Exemption | Must be 65 years of age or older as of January 1st of the current year and must have a household adjusted gross income of $30,174 or less. | An additional $50,000 exemption on property value. | Must file by March 1st of the current year. |
| Widow/Widower Exemption | Must be a widow or widower as of January 1st of the current year. | An additional $500 exemption on property value. | Must file by March 1st of the current year. |
| Disability Exemption | Must be totally and permanently disabled as of January 1st of the current year. | An additional $500 exemption on property value. | Must file by March 1st of the current year. |
| Veterans Exemptions | Must be a veteran who was honorably discharged and have documentation proving they were disabled due to their service, or the surviving spouse of a deceased veteran who was disabled due to their service. | An additional $5,000 exemption on property value if the disability is 10% or more, an additional $10,000 exemption if the disability is 30% or more. | Must file by March 1st of the current year. |
| Deployed Military Exemptions | Must be a deployed military service member who owns property in Broward County. | An additional exemption on property value equal to the percentage of the year they were deployed. | Must file within 60 days of receiving orders for deployment. |
These exemptions and deductions are specific to Broward County and can provide significant savings on property taxes for eligible homeowners. It is important to file for these exemptions by the March 1st deadline to ensure you receive the full benefit.
When is Broward County Property Tax due ?
Broward County Property Tax is typically due on March 31st of each year. However, in some cases, the deadline may be extended to April 1st depending on when the due date falls on a weekend or holiday.
There are several payment methods available for Broward County Property Tax. The most common payment method is by mail using a check or money order. The payment should be made payable to the Broward County Tax Collector and mailed to the address listed on the tax bill.
Alternatively, payments can also be made in person at any of the Tax Collector's office locations. The office hours are Monday to Friday from 7:30 AM to 5:00 PM, excluding holidays. Payments can be made using cash, check, money order, or credit/debit card. Please note that credit/debit card payments will incur a convenience fee.
Additionally, taxpayers can make online payments through the Broward County Tax Collector's website using a credit card or electronic check. Payments can also be made over the phone by calling the Tax Collector's office at (954) 831-4000.
Overall, Broward County Property Tax payments are due by March 31st each year and can be made by mail, in person, online, or over the phone using various payment methods.
If you have more questions - contact your local tax collector.
How is Broward County Property Tax penalty calculated ?
Broward County Property Tax Penalty Calculation
Broward County levies property taxes on real estate and personal property located within its boundaries. Property owners are required to pay their taxes on time to avoid penalties. The penalty for late payment of property taxes in Broward County is calculated as follows:
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In November, the property owner receives a bill for property taxes due for the current year. The bill is due by March 31 of the following year.
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If the taxes are not paid by April 1, a 3% penalty is added to the amount due.
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If the taxes are not paid by May 1, an additional 1.5% penalty is added to the amount due.
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If the taxes remain unpaid by June 1, an additional 1.5% penalty is added to the amount due.
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If the taxes remain unpaid by July 1, an additional 1.5% penalty is added to the amount due.
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If the taxes remain unpaid by August 1, an additional 1.5% penalty is added to the amount due.
Example:
John owns a property in Broward County, and his property tax bill for 2021 was due on March 31, 2021. He failed to pay the taxes on time and incurred a 3% penalty on April 1, 2021, which was $300 (assuming his total taxes due were $10,000). If he still hadn't paid his taxes by May 1, an additional 1.5% penalty would have been added, making the total penalty 4.5% ($450). If John still failed to pay his taxes by June 1, the penalty would have increased to 6% ($600), and so on until August 1.
It is important to pay property taxes on time to avoid penalties and ensure that your property remains in good standing.
We recommend contacting the Broward County Tax Office or a local tax professional for the most up-to-date and accurate information.