Miami Condo Property Taxes, Homestead and the 2026 Ballot

A Miami condo that is not your primary residence pays roughly 2% of its taxable value a year in property tax: the 2025 rate in the City of Miami was 19.99 mills, and in Miami Beach 18.76 mills. If the condo is your permanent home, the homestead exemption trims about $843 a year off a City of Miami bill and caps future assessment growth at 3%. Second homes and rentals get a 10% cap instead, and a November 3, 2026 ballot measure could change both numbers.

The 2025 rates, city by city

Your bill is the taxable value times the total millage (one mill is $1 per $1,000 of value). The total stacks several levies. For 2025, the Miami-Dade Property Appraiser lists:

| Levy | 2025 mills | |---|---| | Miami-Dade countywide | 4.5740 | | School board (all school levies) | 6.6330 | | City of Miami operating + debt | 7.3616 | | Miami Beach operating + debt | 6.1339 | | Sunny Isles Beach operating | 1.7000 | | Aventura operating | 1.7261 |

Add county debt, library, the Children's Trust, the water management district and, outside the cities that run their own, fire-rescue, and the Florida Department of Revenue puts the 2025 total at 19.9878 mills for the City of Miami and 18.7601 for Miami Beach. Parts of Downtown and Brickell also pay the Miami Downtown Development Authority levy (0.39 mills in 2025). Cities with low municipal rates, such as Sunny Isles Beach and Aventura, end up with noticeably lower totals.

What that means at typical Miami prices

From recorded deeds in Own.Miami's database, the median condo sale from October 2025 through September 2026 was $800,000 in Brickell, $777,500 in South Beach and $782,500 in Sunny Isles Beach. Countywide, across 15,729 condo sales, it was $456,000.

If a Brickell condo's taxable value matched that $800,000 median, the 2025 bill at 19.99 mills would be about $15,990 a year before any exemption. The same value in Miami Beach would owe about $15,010. The appraiser's assessment often lands below the price you paid, so treat these as upper-range budgets, not quotes.

If the condo is your permanent home: homestead

A Florida resident who owns and lives in the condo on January 1 can claim homestead with the Property Appraiser (the filing deadline is March 1). It gives two things:

• The exemption. $25,000 off the assessed value for all taxes, plus a second amount off non-school taxes on value above $50,000. Since Amendment 5 passed in 2024, that second amount is indexed to inflation: $25,722 for 2025 and $26,411 for 2026. In the City of Miami in 2025, the two together saved about $843 a year.
• The Save Our Homes cap. After the first year, the assessed value can rise by no more than 3% or the change in CPI, whichever is lower.

If it is a second home or a rental: the 10% cap

Second-home owners, investors and buyers who live abroad do not qualify for homestead. Their protection is the non-homestead cap: assessed value for non-school taxes can rise at most 10% a year. It resets to market value when the condo changes hands.

Why the seller's tax bill is the wrong number

A homesteaded seller who has owned for years may be taxed on an assessment far below market. When you buy, the assessment resets to roughly current value the following January, so your first full-year bill can be much higher than the seller's. Budget from your purchase price and the city's millage, not from the tax line on the listing.

The November 2026 ballot: Amendment 3

The Legislature put HJR 1F on the November 3, 2026 ballot as Amendment 3. As summarized by the Manatee County Property Appraiser and others, if 60% of voters approve it:

• the non-school homestead exemption would rise to $150,000 in 2027 and $250,000 in 2028;
• the non-homestead assessment cap would drop from 10% to 5%;
• school taxes and the $25,000 school exemption would not change;
• new Florida residents would face additional residency requirements, and the first affected bills would be November 2027.

For a condo owner, the 5% cap would slow tax growth on second homes and rentals, and the larger exemption would matter most to full-time residents. Check the final ballot result before you budget for 2027.

This guide is general education, not legal or tax advice. Confirm your own figures with the Miami-Dade Property Appraiser and a tax professional.