Property tax rate in Miami: 0.97%. Median home price: $450,000. Calculate your annual bill, compare to state averages, and find exemptions.
Population
449,514
Median Home Price
$450,000
Property Tax Rate
0.97%
Median Income
$46,390
Cost of Living
135/ 100
The effective property tax rate in Miami, FL is 0.97%. This rate is applied to the assessed value of your property and may differ from the statewide average. On a home valued at $450,000, annual property taxes would be approximately $$450,000 times the rate.
Property taxes in Miami are based on the assessed value of your home, which may differ from the market value. The local assessor determines your home's value, and the 0.97% rate is applied. Appeals are possible if you believe the assessment is too high.
For a home at the median price of $450,000 in Miami, property taxes represent a significant annual expense. Combined with mortgage payments, insurance, and maintenance, these costs should be evaluated against the median household income of $46,390.
Many FL jurisdictions offer homestead exemptions, senior exemptions, and other property tax relief programs. Check with your local tax assessor in Miami for specific programs that could reduce your annual bill.
Use our free calculator with Miami-specific data already filled in.
Open Miami CalculatorPlanning a move to Miami? Cost of living index: 135/100. Median home: $450,000. Median income: $46,390. Get the full relocation breakdown.
Median home price in Miami: $450,000. Property tax rate: 0.97%. Get mortgage estimates, affordability analysis, and local market insights.
Miami cost of living index: 135/100 (100 = national avg). Median home $450,000, median income $46,390. See housing, groceries & more.
Median household income in Miami: $46,390. Cost of living index: 135/100. See how far your salary really goes and compare local job market data.
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Median home in Miami: $450,000. Tax rate: 0.97%. Compare Miami neighborhoods by price, schools, and lifestyle to find the right fit.