Average Tax Assessment in Miami-Dade County
Real Estate Values and Property Tax Valuation in Miami-Dade County, Florida
Miami-Dade County has a total of 780,781 properties, with a cumulative value of $282.1B. This accounts for 13.59% of all real estate value in Florida. Property taxes in Miami-Dade County total $4.3B, with an average homeowner paying $5,519 in property taxes, which is significantly higher than the state average of $3,597. The average property tax rate in Miami-Dade County is 1.53%, while the state average is 1.34%. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
In Florida, property values are assessed on January 1st. Property value notices are issued in August and property tax appeal deadlines are typically 25 days from the date of the value notices, which is usually in September. Property tax bills are issued on November 1st.
Updated November 01, 2023
| Important Links | |
|---|---|
| Miami-Dade Tax Collector | (305) 270-4916 |
| Miami-Dade Clerk / Recorder | (305) 275-1155 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | August |
| Property Tax Appeal Deadline: | September or 25 days from date of value notices |
| Property Tax Bills Issued: | November 1st |
| Real Property Tax Bill Due (1st of #): | March 31st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | Available |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Miami-Dade County
Residential Property Taxes by Cities in Miami-Dade County
Miami-Dade County has an average property tax rate of 1.53%, which is slightly lower than the national average of 1.89%. This rate is applied to all properties in the county, regardless of their location. However, the effective property tax rate can vary significantly from city to city. For example, the city of Medley has an effective property tax rate of 2.01%, which is the highest in the county, while the city of Hialeah has the lowest effective property tax rate of 1.27%. This means that property owners in Medley will pay more in taxes than those in Hialeah.
Overall, Miami-Dade County has a relatively low property tax rate compared to other counties in the state. This is beneficial for property owners, as it allows them to keep more of their money in their pockets. However, it is important to note that the effective property tax rate can vary significantly from city to city, so it is important to research the rates in each city before making a decision on where to purchase a property.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Miami-Dade County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aventura | $96,300 | $147,800 | $220,000 | $396,175 | $759,403 |
| Bal Harbour | $197,800 | $343,900 | $722,250 | $1,813,800 | $3,216,250 |
| Bay Harbor Islands | $140,000 | $169,375 | $264,250 | $494,800 | $918,934 |
| Biscayne Park | $290,863 | $323,894 | $365,137 | $430,474 | $546,721 |
| Coral Gables | $211,631 | $287,400 | $482,608 | $903,566 | $1,551,328 |
| Cutler Bay | $142,583 | $204,501 | $248,284 | $298,264 | $350,850 |
| Doral | $160,000 | $198,000 | $270,000 | $343,601 | $459,997 |
| El Portal | $299,018 | $337,991 | $384,668 | $458,864 | $568,726 |
| Florida City | $113,283 | $134,959 | $168,083 | $209,600 | $278,764 |
| Golden Beach | $962,374 | $1,277,596 | $2,319,024 | $4,190,752 | $6,967,306 |
| Hialeah Gardens | $120,000 | $120,000 | $120,000 | $130,000 | $150,000 |
| Hialeah | $118,000 | $145,400 | $230,365 | $282,400 | $336,108 |
| Homestead | $110,250 | $164,812 | $207,076 | $259,780 | $322,791 |
| Key Biscayne | $334,000 | $500,000 | $757,400 | $1,454,301 | $2,253,200 |
| Medley | $198,130 | $263,000 | $300,000 | $336,000 | $384,000 |
| Miami Beach | $126,500 | $175,440 | $285,300 | $593,613 | $1,446,848 |
| Miami Gardens | $153,891 | $182,521 | $209,410 | $240,240 | $274,375 |
| Miami Lakes | $155,000 | $230,000 | $317,400 | $422,665 | $533,233 |
| Miami | $132,811 | $185,000 | $259,437 | $348,989 | $477,248 |
| Miami Shores | $229,315 | $348,783 | $447,611 | $589,850 | $756,356 |
| Miami Springs | $239,635 | $287,385 | $330,877 | $381,406 | $457,357 |
| North Bay Village | $104,700 | $140,400 | $205,600 | $269,800 | $422,549 |
| North Miami Beach | $86,520 | $122,000 | $206,654 | $268,226 | $384,731 |
| North Miami | $82,700 | $118,700 | $205,469 | $263,910 | $366,517 |
| Opa Locka | $124,000 | $148,885 | $174,276 | $204,781 | $244,839 |
| Palmetto Bay | $243,886 | $382,048 | $475,164 | $555,652 | $662,572 |
| Pinecrest | $175,620 | $593,038 | $798,997 | $1,199,586 | $1,815,675 |
| South Miami | $145,000 | $252,578 | $422,845 | $535,536 | $740,894 |
| Sunny Isles Beach | $143,000 | $194,000 | $300,000 | $693,000 | $1,391,080 |
| Surfside | $217,200 | $295,550 | $543,446 | $652,578 | $1,179,100 |
| Virginia Gardens | $110,000 | $240,621 | $264,483 | $297,682 | $350,640 |
| West Miami | $280,766 | $300,934 | $325,731 | $359,403 | $405,884 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Miami-Dade County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aventura | $986 | $2,029 | $3,450 | $6,883 | $13,484 |
| Bal Harbour | $3,524 | $6,078 | $11,546 | $28,668 | $54,260 |
| Bay Harbor Islands | $1,535 | $2,722 | $4,202 | $8,326 | $14,613 |
| Biscayne Park | $2,932 | $4,285 | $7,016 | $9,302 | $11,466 |
| Coral Gables | $2,561 | $4,280 | $7,033 | $12,985 | $23,524 |
| Cutler Bay | $1,564 | $2,265 | $3,837 | $5,351 | $6,789 |
| Doral | $2,373 | $3,397 | $5,115 | $6,764 | $9,146 |
| El Portal | $1,719 | $2,625 | $5,216 | $8,402 | $11,106 |
| Florida City | $420 | $1,031 | $2,649 | $4,118 | $6,401 |
| Golden Beach | $13,931 | $18,119 | $35,335 | $80,960 | $142,308 |
| Hialeah Gardens | $192 | $719 | $1,860 | $2,487 | $2,563 |
| Hialeah | $605 | $1,540 | $2,383 | $3,968 | $5,637 |
| Homestead | $1,084 | $2,070 | $3,488 | $5,028 | $6,598 |
| Key Biscayne | $4,794 | $7,146 | $11,062 | $21,844 | $35,791 |
| Medley | $3,591 | $5,131 | $5,923 | $6,956 | $8,522 |
| Miami Beach | $1,883 | $2,895 | $4,852 | $9,575 | $22,797 |
| Miami Gardens | $1,170 | $1,707 | $2,772 | $4,337 | $5,487 |
| Miami Lakes | $1,938 | $2,748 | $4,256 | $6,148 | $8,420 |
| Miami | $1,159 | $2,170 | $3,558 | $5,580 | $8,158 |
| Miami Shores | $2,501 | $4,184 | $7,572 | $11,341 | $15,786 |
| Miami Springs | $2,750 | $3,712 | $5,346 | $7,299 | $9,027 |
| North Bay Village | $1,650 | $2,515 | $3,979 | $5,627 | $8,135 |
| North Miami Beach | $709 | $1,268 | $2,535 | $4,417 | $7,257 |
| North Miami | $690 | $1,226 | $2,316 | $4,251 | $6,623 |
| Opa Locka | $1,113 | $1,363 | $3,041 | $4,240 | $5,287 |
| Palmetto Bay | $2,533 | $4,274 | $6,218 | $8,558 | $10,807 |
| Pinecrest | $2,934 | $5,999 | $10,588 | $17,378 | $29,208 |
| South Miami | $1,768 | $2,967 | $4,799 | $7,873 | $11,100 |
| Sunny Isles Beach | $2,080 | $3,050 | $4,907 | $11,733 | $23,586 |
| Surfside | $3,238 | $4,540 | $6,988 | $11,685 | $18,025 |
| Virginia Gardens | $1,422 | $1,931 | $2,600 | $4,884 | $5,899 |
| West Miami | $1,677 | $2,357 | $4,173 | $6,397 | $7,513 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aventura | 1.02% | 1.37% | 1.57% | 1.74% | 1.78% |
| Bal Harbour | 1.78% | 1.77% | 1.60% | 1.58% | 1.69% |
| Bay Harbor Islands | 1.10% | 1.61% | 1.59% | 1.68% | 1.59% |
| Biscayne Park | 1.01% | 1.32% | 1.92% | 2.16% | 2.10% |
| Coral Gables | 1.21% | 1.49% | 1.46% | 1.44% | 1.52% |
| Cutler Bay | 1.10% | 1.11% | 1.55% | 1.79% | 1.94% |
| Doral | 1.48% | 1.72% | 1.89% | 1.97% | 1.99% |
| El Portal | 0.57% | 0.78% | 1.36% | 1.83% | 1.95% |
| Florida City | 0.37% | 0.76% | 1.58% | 1.96% | 2.30% |
| Golden Beach | 1.45% | 1.42% | 1.52% | 1.93% | 2.04% |
| Hialeah Gardens | 0.16% | 0.60% | 1.55% | 1.91% | 1.71% |
| Hialeah | 0.51% | 1.06% | 1.03% | 1.41% | 1.68% |
| Homestead | 0.98% | 1.26% | 1.68% | 1.94% | 2.04% |
| Key Biscayne | 1.44% | 1.43% | 1.46% | 1.50% | 1.59% |
| Medley | 1.81% | 1.95% | 1.97% | 2.07% | 2.22% |
| Miami Beach | 1.49% | 1.65% | 1.70% | 1.61% | 1.58% |
| Miami Gardens | 0.76% | 0.94% | 1.32% | 1.81% | 2.00% |
| Miami Lakes | 1.25% | 1.19% | 1.34% | 1.45% | 1.58% |
| Miami | 0.87% | 1.17% | 1.37% | 1.60% | 1.71% |
| Miami Shores | 1.09% | 1.20% | 1.69% | 1.92% | 2.09% |
| Miami Springs | 1.15% | 1.29% | 1.62% | 1.91% | 1.97% |
| North Bay Village | 1.58% | 1.79% | 1.94% | 2.09% | 1.93% |
| North Miami Beach | 0.82% | 1.04% | 1.23% | 1.65% | 1.89% |
| North Miami | 0.83% | 1.03% | 1.13% | 1.61% | 1.81% |
| Opa Locka | 0.90% | 0.92% | 1.74% | 2.07% | 2.16% |
| Palmetto Bay | 1.04% | 1.12% | 1.31% | 1.54% | 1.63% |
| Pinecrest | 1.67% | 1.01% | 1.33% | 1.45% | 1.61% |
| South Miami | 1.22% | 1.17% | 1.13% | 1.47% | 1.50% |
| Sunny Isles Beach | 1.45% | 1.57% | 1.64% | 1.69% | 1.70% |
| Surfside | 1.49% | 1.54% | 1.29% | 1.79% | 1.53% |
| Virginia Gardens | 1.29% | 0.80% | 0.98% | 1.64% | 1.68% |
| West Miami | 0.60% | 0.78% | 1.28% | 1.78% | 1.85% |
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Real Estate Values in Miami-Dade County
The median home price in Miami-Dade County has increased by 9.38% from October 2022 to October 2023, from $480.0K to $525.0K. This indicates that the housing market in Florida is strong and that prices are continuing to rise. Additionally, the home inventory in Miami-Dade County has decreased from 12.5K in October 2022 to 11.1K in October 2023, indicating that demand for housing is high and that homes are selling quickly.
Average Home Value in Miami-Dade County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Miami-Dade County
Last updated: November 2023
Percent Change in New Home Listings in Miami-Dade County
Last updated: November 2023
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Mortgage Rates in Miami-Dade County
Mortgages in Miami-Dade County are a significant part of the local economy. As of 2021, there is an estimated total of $86.9 billion in outstanding home mortgage loans in the county. This represents a significant percentage of the total home value in the area, with 333,300 outstanding loans. The median mortgage rate in Miami-Dade County varies significantly across cities, with the highest rate being 5.89% in Hialeah Gardens and the lowest rate being 3.73% in Florida City. This wide variation in rates allows potential homebuyers to find a mortgage that fits their budget and financial goals.
Overall, mortgages in Miami-Dade County are an important part of the local economy. With the total outstanding loan amount reaching $86.9 billion and the wide range of mortgage rates available, potential homebuyers have the opportunity to find a loan that fits their needs. This allows them to purchase a home and become part of the Miami-Dade County community.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Miami-Dade County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aventura | $39,934 | $92,382 | $162,443 | $296,433 | $537,553 |
| Bal Harbour | $121,088 | $217,021 | $449,958 | $1,126,642 | $2,271,732 |
| Bay Harbor Islands | $47,144 | $106,807 | $192,722 | $388,688 | $773,830 |
| Biscayne Park | $40,890 | $133,182 | $272,294 | $393,706 | $509,589 |
| Coral Gables | $72,319 | $154,857 | $300,508 | $556,218 | $1,056,949 |
| Cutler Bay | $60,476 | $111,101 | $185,921 | $280,712 | $361,640 |
| Doral | $70,622 | $133,039 | $221,249 | $327,989 | $443,761 |
| El Portal | $34,090 | $137,450 | $266,513 | $396,847 | $523,617 |
| Florida City | $55,095 | $105,364 | $201,288 | $304,902 | $354,664 |
| Golden Beach | $203,452 | $488,181 | $933,661 | $1,765,420 | $4,166,542 |
| Hialeah Gardens | $11,624 | $29,076 | $67,167 | $115,227 | $160,540 |
| Hialeah | $26,997 | $60,492 | $124,730 | $235,606 | $331,571 |
| Homestead | $61,878 | $108,933 | $186,743 | $270,920 | $347,313 |
| Key Biscayne | $83,003 | $188,319 | $393,201 | $833,188 | $1,594,424 |
| Medley | $113,364 | $156,110 | $236,360 | $324,765 | $389,904 |
| Miami Beach | $50,746 | $110,003 | $199,101 | $408,252 | $952,142 |
| Miami Gardens | $24,621 | $69,458 | $133,722 | $224,836 | $299,699 |
| Miami Lakes | $34,478 | $71,595 | $167,647 | $299,962 | $419,668 |
| Miami | $34,272 | $85,490 | $168,312 | $285,588 | $406,057 |
| Miami Shores | $49,718 | $159,057 | $314,464 | $481,074 | $673,047 |
| Miami Springs | $40,781 | $115,680 | $215,039 | $331,839 | $420,016 |
| North Bay Village | $64,840 | $108,771 | $178,490 | $275,660 | $404,574 |
| North Miami Beach | $20,988 | $59,394 | $122,823 | $244,790 | $368,539 |
| North Miami | $20,105 | $54,004 | $114,568 | $229,830 | $360,116 |
| Opa Locka | $26,387 | $69,252 | $131,491 | $214,007 | $276,276 |
| Palmetto Bay | $61,819 | $168,132 | $308,681 | $445,421 | $587,967 |
| Pinecrest | $73,866 | $176,545 | $434,004 | $824,983 | $1,439,908 |
| South Miami | $50,083 | $125,292 | $248,884 | $401,197 | $587,542 |
| Sunny Isles Beach | $52,617 | $115,284 | $219,224 | $475,615 | $1,051,670 |
| Surfside | $50,294 | $138,884 | $290,828 | $510,767 | $1,136,965 |
| Virginia Gardens | $25,304 | $86,536 | $173,439 | $295,455 | $357,142 |
| West Miami | $43,190 | $134,121 | $218,810 | $330,220 | $414,807 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Miami-Dade County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aventura | 2.90% | 3.56% | 4.50% | 6.05% | 7.26% |
| Bal Harbour | 2.80% | 3.33% | 4.25% | 5.85% | 7.07% |
| Bay Harbor Islands | 2.80% | 3.14% | 4.15% | 5.87% | 7.04% |
| Biscayne Park | 3.00% | 3.67% | 4.39% | 6.22% | 7.60% |
| Coral Gables | 2.90% | 3.50% | 4.30% | 6.04% | 7.33% |
| Cutler Bay | 3.00% | 3.65% | 4.40% | 5.71% | 7.03% |
| Doral | 2.90% | 3.55% | 4.40% | 5.87% | 7.12% |
| El Portal | 2.90% | 3.59% | 4.20% | 5.99% | 7.46% |
| Florida City | 2.70% | 2.90% | 3.73% | 5.37% | 7.00% |
| Golden Beach | 2.88% | 3.11% | 4.00% | 5.58% | 7.03% |
| Hialeah Gardens | 3.10% | 4.20% | 5.89% | 6.99% | 7.76% |
| Hialeah | 3.11% | 3.92% | 5.37% | 6.90% | 7.76% |
| Homestead | 2.90% | 3.56% | 4.26% | 5.42% | 6.65% |
| Key Biscayne | 2.87% | 3.44% | 4.48% | 6.32% | 7.35% |
| Medley | 2.90% | 3.50% | 4.37% | 5.53% | 6.22% |
| Miami Beach | 2.88% | 3.46% | 4.40% | 6.08% | 7.31% |
| Miami Gardens | 3.10% | 3.87% | 4.75% | 6.62% | 7.75% |
| Miami Lakes | 3.10% | 3.87% | 5.11% | 6.90% | 7.61% |
| Miami | 3.00% | 3.75% | 4.62% | 6.36% | 7.55% |
| Miami Shores | 2.90% | 3.50% | 4.19% | 5.68% | 7.29% |
| Miami Springs | 3.10% | 3.75% | 4.50% | 6.49% | 7.58% |
| North Bay Village | 2.90% | 3.45% | 4.15% | 5.62% | 6.76% |
| North Miami Beach | 3.00% | 3.79% | 4.87% | 6.96% | 7.85% |
| North Miami | 3.09% | 3.83% | 5.04% | 6.91% | 7.90% |
| Opa Locka | 3.00% | 3.87% | 4.75% | 6.26% | 7.65% |
| Palmetto Bay | 2.90% | 3.60% | 4.38% | 6.10% | 7.38% |
| Pinecrest | 2.90% | 3.49% | 4.38% | 6.19% | 7.34% |
| South Miami | 2.93% | 3.68% | 4.45% | 6.16% | 7.24% |
| Sunny Isles Beach | 2.88% | 3.50% | 4.50% | 6.05% | 7.18% |
| Surfside | 2.90% | 3.50% | 4.57% | 6.05% | 7.48% |
| Virginia Gardens | 3.12% | 3.91% | 4.83% | 6.77% | 7.67% |
| West Miami | 3.00% | 3.75% | 4.42% | 6.55% | 7.53% |
Housing Expenses in Miami-Dade County, Florida
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