Owning Guide
Property taxes in Delray Beach, Florida, typically run about 1.1% to 1.3% of the assessed value before exemptions. On a $350,000 home, that's roughly $3,850 to $4,550 per year before the Homestead Exemption. After the $50,000 Homestead Exemption, the tax bill drops to about $3,150 to $3,750. Delray Beach's millage rate is slightly higher than some surrounding areas because of the city's higher-quality services.
Property taxes in Florida are calculated using millage rates. One mill equals $1 of tax per $1,000 of taxable value. Your total millage rate is the sum of several taxing authorities: the county, the city, the school district, and any special districts (like library or fire districts).
The combined millage rate for a home in Delray Beach is approximately 18.5 to 20.0 mills, depending on your specific location and whether you're in a special taxing district. This breaks down roughly as: Palm Beach County (4.5 mills), Delray Beach city (5.0 mills), School Board (5.5 mills), South Florida Water Management District (0.3 mills), and various other districts. Your actual rate may vary slightly based on your neighborhood.
$250,000 home
$2,750
Estimated annual tax with Homestead
~$3,250 without exemption
$350,000 home
$3,450
Estimated annual tax with Homestead
~$4,200 without exemption
$500,000 home
$5,400
Estimated annual tax with Homestead
~$6,400 without exemption
These are estimates. Actual tax bills depend on exact millage rates, exemptions, and assessed value. Contact the Palm Beach County Property Appraiser for precise figures.
The Homestead Exemption removes $50,000 from your assessed value before taxes are calculated. On a $350,000 home, you're taxed on $300,000 instead of $350,000. At a 19-mill rate, that saves you $950 per year. Additional exemptions for seniors, disabled persons, or veterans can save even more. If you bought your home recently, the Save Our Homes cap hasn't had time to build up, so you're paying on the full assessed value (minus the exemption).
How does Delray Beach compare to neighboring areas?
If you're buying a home in Delray Beach, remember that the property tax bill you see on a listing may not reflect what you'll actually pay. The previous owner may have had a Homestead Exemption and Save Our Homes cap for many years, significantly reducing their tax bill. As a new buyer, you'll start fresh with the full assessed value (minus your own Homestead Exemption). Always ask your agent to estimate the post-purchase tax bill.
More on owning a home in South Florida.
I can help you estimate the full cost of owning any home you're considering, including property taxes, insurance, and HOA fees.
For Ryan's full range of services, visit RyanParkerRealty.com.