Tampa Bay property taxes are your home's assessed value, minus exemptions, times the millage rates where it sits, and a city of Tampa address carries a city rate that unincorporated Hillsborough doesn't. The seller's homestead savings end with the sale, so the county appraiser reassesses the home at market value the next January 1.
Why the Seller's Tax Bill Isn't Your Tax Bill
The tax amount on a listing reflects the seller's situation, and a long-time homesteaded owner can be paying far less than a new buyer will. Florida's Save Our Homes rule limits how much a homestead's assessed value can rise each year to 3% or the change in the Consumer Price Index, whichever is less, so the gap between assessed value and market value can grow wide over the years.
That protection belongs to the owner and ends with the sale. The Hillsborough County Property Appraiser's Save Our Homes page says a home is raised to full market value on January 1 of the year after it's conveyed to a new owner, and Florida law applies the same reset in Pinellas, Pasco and every other county. Your first full bill can look very different from the one you saw on the listing.
Homes that aren't homesteaded, like rentals and second homes, have their own cap of 10% a year on assessment increases for non-school taxes. That cap also resets when the property changes hands. In the year you close, the taxes are split between you and the seller on the closing statement, which our Florida closing costs guide walks through line by line.
How the Homestead Exemption Cuts Your Bill
If the home is your permanent residence, the homestead exemption is the single biggest tax break you'll get. It takes $25,000 off your assessed value for all property taxes, and a second exemption, which the state adjusts for inflation each year, comes off for non-school taxes.
You have to apply for it, and nothing happens automatically at closing. File with your county property appraiser by March 1 of the year after you buy, and make sure the home is your primary residence as of January 1 of that year. Once it's granted, your own Save Our Homes cap starts protecting you from big jumps in assessed value.
If you're selling one Florida homestead and buying another, ask about portability. It lets you carry part of the Save Our Homes savings from your old home to the new one, as long as you apply within the time limits. Moving to the area from out of state? Our Florida moving guides cover what to set up in your first months.
What Amendment 3 on the November Ballot Would Change
Florida voters will decide on Amendment 3 on November 3, 2026, and it needs at least 60% of the vote to pass. If it's approved, it takes effect January 1, 2027, so it wouldn't change the bill you'll get this fall.
According to the Pinellas County Property Appraiser's summary of Amendment 3, it would raise the homestead exemption for non-school taxes to up to $150,000 in 2027 and up to $250,000 in 2028 for eligible homeowners who are Florida residents as of December 31, 2026. Homeowners who become Florida residents on or after January 1, 2027 would start at $50,000 for non-school taxes, with the larger amount available after four years of homestead. The school-tax exemption would stay at $25,000, and the cap on non-homestead assessment increases would drop from 10% to 5% for non-school taxes.
We're not weighing in on how to vote. If you're buying now, the practical takeaway is that the date you establish Florida residency and file for homestead could matter more than usual, so keep your closing paperwork and proof of residency organized.
How to Estimate the Taxes Before You Make an Offer
Look up the property on the county property appraiser's site, which is hcpafl.org in Hillsborough, pcpao.gov in Pinellas and pascopa.com in Pasco, and note the market value, the assessed value and any exemptions in the seller's name. If the assessed value is far below the market value, expect a higher bill once the home is reassessed in your name.
Use the tax rate for the right side of the city line, too. Hillsborough's final millage table for 2025 lists the city of Tampa's own rate, 6.2076 mills, separately from unincorporated Hillsborough, so two similar homes a few streets apart can carry different bills depending on which side of the line they sit.
From there, your agent can help you estimate the tax on something close to your purchase price, minus the homestead exemption you'll file for. Plug that estimate into the mortgage calculator so your monthly payment reflects the real tax, not the seller's.
The first place you'll see the new number is the TRIM notice, or Notice of Proposed Property Taxes, which the property appraiser mails in late summer with your market value, your exemptions and the rates each taxing authority proposes. In Hillsborough, the 2026 notices started going out August 13. It isn't a bill, so call the appraiser's office if an exemption you filed for is missing.
Florida property taxes are paid in arrears, with bills going out in the fall and a discount for paying early. If you have an escrow account, your lender collects the tax with your monthly payment and pays the bill for you. For the deductions side of owning a home, our guide to tax benefits for Florida homeowners picks up where this one ends.
Frequently asked questions
Why did my Hillsborough tax bill jump the year after I bought?
The seller's homestead exemption and Save Our Homes cap ended with the sale, and the Hillsborough County Property Appraiser raised the home to full market value on January 1 of the following year. Your own exemption and cap only start once you've filed for homestead, and the August TRIM notice is the first place the new number shows up.
When do I file for homestead exemption in Florida?
File with your county property appraiser by March 1 of the year after you buy, and the home must be your permanent residence on January 1 of that year. Some appraisers accept a late application for good cause, but don't count on it.
Are Florida property taxes paid in advance or in arrears?
They're paid in arrears. Bills go out in the fall for the current calendar year, and the taxes for the year you buy are split between you and the seller on the closing statement.
What is Amendment 3 on the 2026 Florida ballot?
It's a proposed constitutional amendment that would raise the homestead exemption for non-school property taxes starting in 2027 and lower the cap on assessment increases for non-homestead property. It needs 60% of the vote on November 3, 2026, to pass.