How can I minimize my property taxes?
There are several things that you can do to keep your tax bill as low as possible. Exemptions reduce the taxable value of your property, thereby reducing the amount of property tax you pay. If your property is your permanent residence, or homestead, you may be eligible for a tax exemption. Several types of exemptions are available. Learn more about tax exemptions.
What can my elected officials do to lower my taxes?
City Council is responsible for the millage rate for only two lines on your tax bill: City of Port St. Lucie and City of PSL Voted Debt, which was voter-approved to pay for the Crosstown Parkway. That’s only 21% of your total tax bill. Over the past 11 years, the City’s millage has decreased from 6.6289 in the FY 2015/16 to 4.8750 for FY 2026/27.
City Council cannot influence the other taxing authorities that make up the 14 other lines items on your tax bill.
What are Ad Valorem Tax Rates?
Tax Authorities, such as city, county commission, water management district, school board and special districts are responsible for setting property tax rates. They hold advertised public hearings, where the public is invited to speak on the proposed tax rate. Learn more about Property Tax information for Taxpayers.
What is the millage rate?
The millage rate is your property tax rate, which is the rate of tax per thousand dollars of taxable value, this would equate to a resident paying $4.87 in taxes for every $1,000 of taxable property taxes. The budget approved by the City Council this year included a millage rate reduction for the tenth year in a row. But tax bills can be complicated and despite that effort, your overall tax bill may have gone up.
That could be the result of several factors including:
- Your property’s taxable value went up. If the value increase was larger than the millage rate cut, you pay more.
- Your TRIM (Truth in Millage) notice includes multiple taxing bodies (such as the county, school district, or water management district). A drop in the city millage rate can be overshadowed by an increase in millage rates or values from the school board or county.
- If you lost a specific tax exemption or discount (such as a senior, widow, or local exemption), your taxable value goes up.
How do PSL property taxes work?
Each year, the St. Lucie County Property Appraiser determines your property's market and assessed values. Your assessed value, minus applicable exemptions, determines your taxable value. Each taxing authority applies its millage rate to the taxable value to calculate its portion of your property taxes.
For the 2026 tax year, eligible homeowners may receive a homestead exemption of up to $51,411 on a primary residence. The first $25,000 applies to all property taxes, including school taxes. The additional exemption of up to $51,411 applies only non-school taxes. Other exemptions or discounts may be available to qualifying seniors, people with disabilities, and veterans.
The Save Our Homes assessment limitation restricts annual increases in the assessed value of homestead property to 3% or the change in the Consumer Price Index, whichever is lower. Eligible homeowners moving from one Florida homestead to another may transfer up to $500,000 of their accumulated Save Our Homes assessment benefit through portability. Differences in assessment benefits and exemptions can explain why neighbors with similar homes pay different property taxes.
How can I estimate future taxes on a new home?
Property taxes are calculated using the property's taxable value and the millage rates adopted by the applicable taxing authorities.
The basic calculation for each taxing authority is:
- Just/Market Value limited by the Save Our Homes Cap or 5% Cap = Assessed Value
- Assessed Value – Applicable Exemptions = Taxable Value
- (Taxable Value × Millage Rate) ÷ (1,000 + ad valorem taxes) = Total Taxes
Why do my taxes change year from year?
If your property value has increased or any other taxing authorities charged their rates, your tax bill will change from year to year. Because each year's property value stands alone, it is difficult to estimate taxes before annual property values and millage rates are established. A property's value is not based solely on the specific purchase price of that property. Value is a reflection of the market. When sale prices decline, so do values, and conversely when sale prices increase, so do values. An arms-length sale price is one component used, along with other market information, such as comparable sales, to help establish values.
Why are my taxes different from the previous owner’s?
Many first-time Florida homeowners are surprised when their tax bills are higher than the tax bills of the previous owner(s) or their neighbor(s). When the property changes ownership, Florida law requires the property appraiser to remove exemptions and reassess the property, so the assessed value equals the just value. This takes effect on Jan. 1 after you purchase the property.
The previous owner’s exemption and Save Our Homes (SOH) benefit stay with the property for the remainder of the tax (calendar) year in which you purchase your home, so your first tax bill will reflect the previous owner’s benefits if you bought the home before he or she paid that year’s tax bill. If you owned the property and maintained it as your permanent residence on Jan. 1 and apply for the homestead exemption by March 1, your tax bill for the year will reflect the reduction in taxable value, but the SOH benefit will not take effect until the following year.
For example, if you bought your home in September last year and the previous owner owned the home for 12 years and had the homestead exemption. The assessed value for last year was $110,000, and the taxable value was $60,000. After the property appraiser reassessed your home as of Jan. 1 this year, the assessed value increased to $130,000. You applied for and received the homestead exemption, which lowered your taxable value to $80,000, which is a $20,000 increase in taxable value over the previous year. Next year, the SOH benefit will take effect, so your assessed value increase will generally be limited to the lower of 3% or change in the Consumer Price Index. At 3%, the maximum increase would be $3,900.