Real property is defined as land, buildings, and all other permanent improvements on the land and is broadly classified, based on land use, as follows:

Single family and multi-family residential, condominium, cooperatives, townhouses, time-share developments and mobile homes; Vacant residential and unimproved acreage; Commercial/Industrial, vacant or improved; and, Agricultural.

By July 1 of each year, the property appraiser must report the just value of all real property in the county as of January 1 of that year.

The tax due for each parcel is calculated by multiplying the   taxable value by the tax rate (Millage Table Page) levied by the taxing authorities within that county. The Notice of Proposed Property Taxes is mailed to all property owners at the end of August.  If there are any discrepancies that the property appraiser's office is unable to resolve, you may file a petition with the  Value Adjustment Board within 25 days of the mailing of this notice.  The actual tax bill is mailed to the taxpayer at the end of October and is payable on November 1. The payment must be made to the tax collector by April 1 of the following year. There are discounts for early payment and penalties for delinquency. You may view the tax information website at http://www.miamidade.gov/proptax/.

Real Property is divided into two divisions:

• Condominium Division – Handles all condominiums, townhouses, and cluster developments.
• Real Estate Division – Handles all other real property (single and multi-family, commercial, etc.).

These divisions are responsible for the annual determination of all real property values in Miami-Dade County using the three approaches to value (market, cost, and income). Computerized sales analysis data is reviewed to determine the feasibility for changes in assessed value. All new construction in the county, including additions, is evaluated to determine if the improvement to the property is substantially complete. Also determined is the building size, grade construction and other variables observed through field inspections that affect the value of the property. These divisions also perform other support functions:

• Receive and track Miami-Dade County and municipal issued permits for assessment valuation purposes on a computerized database system.
• Make all separations and groupings of land parcels.
• List all real property in Miami-Dade County and prepares corresponding legal description obtained from officially recorded documents and/or certified documents.
• Receives and tracks all zoning classifications provided by Miami-Dade County and municipal zoning and planning departments for assessment valuation.
• Inspects and classifies property for agricultural use.
• Reviews and analyzes capitalization and discount rates for assessment valuation of income producing properties.
• Analyzes market data for rents and operating expenses.  

Factors to consider in deriving just valuation.

In arriving at just valuation as required under s. 4, Art. VII of the State Constitution, the property appraiser shall take into consideration the following factors:

• The present cash value of the property, which is the amount a willing purchaser would pay a willing seller, exclusive of reasonablefees and costs of purchase, in cash or the immediate equivalent thereof in a transaction at arm's length;
• The highest and best use to which the property can be expected to be put in the immediate future and the present use of the property, taking into consideration any applicable judicial limitation, local or state land use regulation, or historic preservation ordinance, and considering any moratorium imposed by executive order, law, ordinance, regulation, resolution, or proclamation adopted by any governmental body or agency or the Governor when the moratorium or judicial limitation prohibits or restricts the development or improvement of property as otherwise authorized by applicable law. The applicable governmental body or agency or the Governor shall notify the property appraiser in writing of any executive order, ordinance, regulation, resolution, or proclamation it adopts imposing any such limitation, regulation, or moratorium;
• The location of said property;
• The quantity or size of said property;
• The cost of said property and the present replacement value of any improvements thereon;
• The condition of said property;
• The income from said property; and
• The net proceeds of the sale of the property, as received by the seller, after deduction of all of the usual and reasonable fees and costs of the sale, including the costs and expenses of financing, and allowance for unconventional or atypical terms of financing arrangements. When the net proceeds of the sale of any property are utilized, directly or indirectly, in the determination of just valuation of realty of the sold parcel or any other parcel under the provisions of this section, the property appraiser, for the purposes of such determination, shall exclude any portion of such net proceeds attributable to payments for household furnishings or other items of personal property.

Important Dates:

• January 1 - the assessment date. The date that all property is valued.
• By July 1 - Submit assessment roll to Florida Department of Revenue for review.
• By July 1 - Agricultural Classification notice of approval or denial mailed.
• August 24th (Approximately) - Notice of Proposed Property Taxes mailed.
• November 1 - Taxes become payable.