Property taxes can be complicated. We’ve put together a little information to help explain taxes in Lake County, FL.
Rule Number 1: Never trust the taxes that you see listed on a real estate listing. These are the current taxes that the owner is paying and is based on their purchase price and exemptions.
The Lake County Property Appraiser provides a Tax Estimation Calculator to simplify the process of estimating taxes.
Millage Rate
Taxes are based on location and the millage rate of that location.
Homes that are located within the city limits are taxed at the millage rate of that specific city. Lake County Millage Rates 2022
Homes that are located outside of city limits are considered Unincorporated, no matter the city it is in.
When a home sells, taxes are based on the new sales price.
Homestead Exemption
- Living in the home full time (6 months and 1 day) means you can file for Homestead Exemption which provides a reduction in your taxes. Here’s more information on Homestead Exemption.
- By filing for Homestead Exemption, you also qualify for an additional exemption call Save Our Homes. The maximum increase in assessed value from year to year is 3% as long as no change has been made to the property or in ownership.
Portability
If you have sold (or will sell) your primary residence in Florida within the past two years, you may qualify for portability. Portability FAQ
