Property taxes in Boca Raton can feel complex at first glance, especially if you are relocating or buying your first Florida home. The good news is the rules are clear once you understand assessed value, exemptions, and millage rates. In this guide, you will learn how Palm Beach County calculates taxes, how Florida’s homestead exemption and Save Our Homes cap work, and how portability can lower your costs when you move within the state. You will also get simple timelines and an example you can use to estimate your carrying costs. Let’s dive in.
How Palm Beach County taxes work
Palm Beach County values your property each year as of January 1. The Property Appraiser determines the assessed value based on market conditions on that date. After that, exemptions are subtracted to arrive at your taxable value.
Local taxing authorities then set annual millage rates. These include Palm Beach County, the City of Boca Raton, the School District, and any special districts. Your tax bill is your taxable value multiplied by the combined millage rate (mills are dollars per 1,000 of taxable value).
The Tax Collector mails tax bills and collects payments. Each year has set mail dates, early‑payment discounts, and delinquency rules. For current procedures, visit the Palm Beach County Tax Collector and the Palm Beach County Property Appraiser to confirm this year’s deadlines and details.
- Assessment date: January 1 (value reflects the market on that date).
- TRIM notice: Typically mailed in late summer (usually August). It shows your proposed assessed value, exemptions, proposed millage rates, and estimated taxes. It also lists appeal deadlines and hearing dates.
- Appeals: If you disagree with your value or exemption, use the instructions on your TRIM notice to contact the Property Appraiser or file with the county Value Adjustment Board by the stated deadline.
Helpful sources:
- Learn assessment and exemption basics on the Palm Beach County Property Appraiser site.
- Review billing, discounts, and payment options with the Palm Beach County Tax Collector.
- See statewide guidance on homestead, Save Our Homes, and portability from the Florida Department of Revenue.
Florida homestead basics
The Florida homestead exemption lowers the taxable value on your primary residence. For most owners, the exemption is up to $50,000.
Here is how the exemption is commonly structured:
- The first $25,000 applies to all property taxes, including school district taxes.
- The additional $25,000 applies to the assessed value between $50,000 and $75,000 and does not apply to school taxes.
To qualify, you must own and occupy the property as your permanent residence as of January 1 and be a Florida resident. You need to file an application with the county Property Appraiser. The typical filing deadline is March 1 of the tax year. Documentation often includes proof of ownership plus a Florida driver’s license or ID that matches the property address, vehicle or voter registration, and other proof of residency. Check the Palm Beach County Property Appraiser for current forms and documentation.
Save Our Homes cap
Save Our Homes (SOH) limits how much the assessed value of a homesteaded property can rise each year for tax purposes. The annual increase is limited to the lesser of 3 percent or the change in the Consumer Price Index.
This is separate from the dollar homestead exemption. Over time, SOH can create a gap between market value and assessed value that significantly reduces your tax bill compared with a non‑homesteaded property.
Additional exemptions
You may qualify for other exemptions that further reduce taxable value, such as senior low‑income exemptions, certain disabled or veteran exemptions, or widow and widower exemptions. Rules and amounts can change. Review current options with the Palm Beach County Property Appraiser and the Florida Department of Revenue.
Portability when you move in Florida
If you had a Florida homestead and move to a new Florida primary residence, you can often transfer part or all of your accumulated SOH benefit to your new home. This is called portability. It reduces the assessed value at the new property, which can lower your tax bill.
Key points:
- Portability transfers the SOH assessment benefit, not the $50,000 homestead exemption itself.
- The transfer amount is limited by statute. Public guidance often notes a maximum of up to $500,000. Confirm current limits with official sources.
- You must apply for portability when you file your homestead application on the new property with the Palm Beach County Property Appraiser.
- Portability is available only if you previously held a Florida homestead and meet all application timing and eligibility rules. If you are moving from out of state without a prior Florida homestead, portability does not apply.
Timing matters. Homestead and portability benefits generally apply to the tax year only if you own and occupy the home as your permanent residence on January 1 of that year. If you close or move later in the year, benefits typically start the following tax year.
Example: estimating your tax
Let’s walk through a simple, hypothetical example to show how exemptions and portability can affect carrying costs. This is for illustration only. Actual millage rates and assessments change every year.
- Hypothetical market value: 600,000 dollars
- Assessed value: 600,000 dollars (assume no prior SOH on the property)
- Homestead exemption: 50,000 dollars total
- Combined millage rate: 20 mills (20 dollars per 1,000 of taxable value)
Step by step:
- Taxable value after homestead: 600,000 minus 50,000 equals 550,000 dollars
- Estimated taxes: 550,000 multiplied by 20 divided by 1,000 equals 11,000 dollars per year
If you also port a 100,000 dollar SOH benefit from a prior Florida homestead, your assessed value could be reduced further for tax purposes. Under the same millage example, that additional reduction could lower your bill by about 2,000 dollars per year.
For precise estimates, use the Property Appraiser’s tools and confirm current millage rates with the City of Boca Raton, Palm Beach County, and the School District of Palm Beach County.
What to do and when
Use this checklist to stay on track after you buy in Boca Raton:
Before you make an offer
- Ask whether the seller has a homestead exemption. The seller’s exemption and SOH assessment benefit do not transfer to you.
- Review the current assessed and taxable values on the Property Appraiser site and ask about any special assessments or district taxes.
Right after closing
- Update your Florida driver’s license or ID, voter registration, and vehicle registration to your new Boca Raton address.
- File your homestead exemption with the Palm Beach County Property Appraiser by March 1. If you are eligible for portability, complete the portability section or form at the same time.
- Keep copies of your deed, closing statement, and residency documents for your application.
If you move mid‑year
- Ask the Property Appraiser whether your homestead and portability benefits will begin in the current tax year or the next.
Escrow and budgeting
- When your exemption is approved, provide a copy to your mortgage servicer so they can adjust escrow estimates for future payments.
TRIM notices and appeals
In late summer, you will receive a TRIM notice with your proposed assessed value, exemptions, and estimated taxes. Read it closely. If you see an error or disagree with the value, contact the Property Appraiser promptly using the instructions on the notice. If needed, file a petition with the county Value Adjustment Board by the listed deadline. The TRIM notice also includes hearing dates for taxing authorities that set millage rates.
For process details and forms, start with the Palm Beach County Property Appraiser and the Florida Department of Revenue’s property tax resources.
Staying informed year to year
- Millage rates change annually. Follow the City of Boca Raton and Palm Beach County budget updates, as well as the School District of Palm Beach County, to understand how rates and proposals may affect your bill.
- Reconfirm deadlines every year. The Tax Collector posts payment schedules and discount windows. The Property Appraiser posts filing deadlines and documentation for exemptions and portability.
- Keep your records current. If your primary residence or ownership changes, update the Property Appraiser and review how it may affect exemptions.
Work with a local guide
Understanding property taxes is part of making a confident move. Whether you are buying a waterfront estate, a country‑club residence, or a downtown condo, clear expectations for carrying costs help you choose the right home.
If you value high‑touch guidance and quick answers, our boutique team is here to help. We serve Boca Raton and the surrounding coastal markets with concierge support, relocation expertise, and bilingual service. Ready to plan your move, compare options, and map out your first year’s costs with clarity?
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FAQs
What are Boca Raton property taxes based on?
- Your tax bill is your taxable value (assessed value minus exemptions) multiplied by the combined millage rates set by local taxing authorities.
When are TRIM notices mailed in Palm Beach County?
- TRIM notices are typically mailed in late summer, usually August, and include proposed values, exemptions, millage rates, estimated taxes, and appeal deadlines.
Who qualifies for Florida’s homestead exemption?
- You must own and occupy the home as your permanent residence on January 1 and be a Florida resident, then file an application with the county Property Appraiser.
How does Save Our Homes limit increases?
- SOH caps annual assessed value increases on homesteaded property at the lesser of 3 percent or the change in the Consumer Price Index.
Can I transfer my tax benefit if I move to Boca Raton?
- Yes. You can apply to transfer your accumulated SOH benefit to your new Florida homestead through portability, subject to statutory limits and application rules.
What is the homestead filing deadline?
- The typical deadline is March 1 of the tax year. Check the Palm Beach County Property Appraiser for current‑year dates and documentation.
Does homestead automatically reduce my mortgage escrow?
- Not automatically. Share your exemption approval with your mortgage servicer so they can update future escrow calculations.
How do I appeal my assessed value?
- Follow the instructions on your TRIM notice to contact the Property Appraiser and, if needed, file a petition with the county Value Adjustment Board by the stated deadline.
Sources for further reading: Visit the Palm Beach County Property Appraiser at pbcgov.org/papa, the Palm Beach County Tax Collector at pbctax.com, the Florida Department of Revenue’s property tax resources at floridarevenue.com/property, and the Florida Statutes at leg.state.fl.us/statutes.
