Miami, FL variant. This is a Miami, FL-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Miami property tax runs about 0.97% of value - roughly $5,869/year on the $605,000 median home.
Property tax in Miami
Tax = assessed value × local rate. The 0.97% effective rate captures Miami's blend of county, city, and school levies.
On the $605,000 median home that's $5,869/year ($489/month), usually escrowed with your mortgage.
About Miami, FL
Miami is in Florida, which has no state personal income tax, a key attraction for residents and businesses.
Miami's housing market is among the most expensive in the South, driven by strong demand and international buyers.
Miami is an international finance, trade, and tourism hub, with a cost of living well above the national average.
Worked example: $605,000 home
$605,000 × 0.97% = $5,869/year. A $600,000 Miami home would owe about $5,820.
Quick reference
- Median home value: $605,000
- Median rent: $3,050/mo
- Median household income: $54,675
- Local sales tax: 7%
- Effective property tax rate: 0.97%
- Cost of living index: 124 (US avg = 100)
Frequently Asked Questions
What is the property tax rate in Miami?
About 0.97% of market value per year.
How much property tax on a median Miami home?
Roughly $5,869 per year.