Florida

Sales Tax

  • Statewide: 6.0%
  • Municipalities can levy sales tax of no more than 2.5%.
  • Current average sales tax (with local taxes included): 7.06%
  • Common Exceptions at State Level:
    • Prescriptions: Exempt
    • Unprepared Foods: Exempt
    • Prepared Foods: 9%
    • Cosmetics and some medical supplies: Exempt.
    • Electricity: 6.95%
  • Gasoline Tax: 61.95 cents/gallon (Includes all state, local, and federal taxes
  • Diesel Fuel Tax: 60.77 cents/gallon (Includes all state, local, and federal taxes)

 

Personal Income Tax

  • Florida has no personal income tax.

 

Property Tax

  • Local municipalities average .86% of the property's assessed value.
  • Assessed value: Fair market value, among other determining factors. Assessed each year.
  • Relief programs for:
    • Owner-occupied: A reduction of up to $50,000 available based on meeting requirements. Active military may rent property without losing their homestead exemption.
    • Save Our Homes program: After the first year a home receives the homestead exemption, its assessed value for each following year cannot increase more than 3% or the Consumer Price Index, whichever is less.
    • Servicemembers deployed out of the country: May receive exemption for time deployed
    • 65 and over: Additional exemption of up to $50,000 available depending on income level and other requirements. Potentially more for long-time owners.
    • Widowed/Blind/Totally Disabled: Exemption of assessed value of $5,000.
    • Disabled Veterans/Surviving Spouses: Partial ($5,000) or total exemption available based on disability pay and other requirements. $5,000 reduction for disabled veterans available if disability rating is at least 10%. Reduction of up to $445,000 of assessed value is available with 100% disability rating.
    • Surviving Spouse of first responder: Total exemption available if meet certain requirements
  • Personal Property Tax: Yes. Rates and exemptions vary.

 

Inheritance & Estate Taxes: None

 

Department of Revenue website: www.floridarevenue.com

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