Florida

Sales Tax

  • Statewide: 6.0%
  • Municipalities can levy sales tax of no more than 2.5%.
  • Current average sales tax (with local taxes included): 7.037%
  • Common Exceptions at State Level:
    • Prescriptions: Exempt
    • Unprepared Foods: Exempt
    • Prepared Foods: 9%
    • Cosmetics and some medical supplies: Exempt.
    • Electricity: 6.95%
  • Gasoline Tax: 61.95 cents/gallon (Includes all state, local, and federal taxes
  • Diesel Fuel Tax: 60.77 cents/gallon (Includes all state, local, and federal taxes)

 

Personal Income Tax

  • Florida has no personal income tax.

 

Property Tax

  • Local municipalities average .89% of the property's assessed value.
  • Assessed value: Fair market value, among other determining factors. Assessed each year.
  • Relief programs for:
    • Owner-occupied: A reduction of up to $50,000 available based on meeting requirements. Active military may rent property without losing their homestead exemption.
    • Save Our Homes program: After the first year a home receives the homestead exemption, its assessed value for each following year cannot increase more than 3% or the Consumer Price Index, whichever is less.
    • Service members deployed out of the country: May receive exemption for time deployed
    • 65 and over: Additional exemption of up to $50,000 available depending on income level and other requirements
    • Disabled Veterans: Partial or total exemption available based on disability pay and other requirements.
    • Surviving Spouse of first responder: Total exemption available if meet certain requirements
    • Widowed: $500
    • Disabled: $500 if blind. Up to 100% exemptions available if meet income and disability requirements
  • Personal Property Tax: Yes. Rates and exemptions vary.

 

Inheritance & Estate Taxes: None

 

Department of Revenue website: www.floridarevenue.com

More Financial Guidance From MOAA 

Premium and Life members can consult our financial staff for education and consumer advice.

 

Looking to get more out of your membership? MOAA has more than 400 chapters around the country. Get involved in your community by finding the one closest to you and joining today!