One of the essential things to know when buying or renting a home in Jacksonville is the property tax. Since Jacksonville is a consolidated city with Duval County, the property tax is assessed by the Duval County Property Appraiser, which sets the tax rates. The property tax rate (millage rate) is adjusted annually, and for the 2024-2025 fiscal year, the overall millage rate for Duval County is approximately 18-20 mills per $1,000 for residential properties. When converted to an effective tax rate, this corresponds to about 1.1-1.4% of the assessed value.

Florida has a Homestead Exemption program that allows homeowners to deduct up to $50,000 from the assessed value of their primary residence. The first $25,000 is exempt from all taxes, and the next $25,000 is exempt from all taxes except for school taxes. To qualify for this benefit, the home must be your primary residence as of January 1, and you must apply to the county property appraiser by March 1. Receiving the Homestead Exemption can save you hundreds to thousands of dollars in taxes annually, so it is essential to apply after purchasing a home.

The school district in Duval County is the Duval County Public Schools (DCPS). DCPS is a large school district serving approximately 120,000 to 130,000 students. The district's budget consists of state funding, federal grants, and local property taxes. The school millage portion of the property tax is divided into mandatory and optional assessments according to Florida's constitution. Additional school taxes may be levied with voter approval, which are used for teacher salaries, facility improvements, and expanding educational programs.

The DCPS budget for the 2024-2025 fiscal year is over $2.1 billion, with a significant portion allocated to teacher salaries. The general fund is used for the routine operation of schools, while the capital outlay fund is used for new construction, renovations, and equipment purchases. DCPS prioritizes attendance zones when assigning schools, but some magnet schools or special program schools may accept students from across the county. The property tax bill details the breakdown of education taxes, city operating expenses, fire services, libraries, and water management.

When buying a home in Jacksonville, it's also important to note that the assessed value and market value may differ. Florida's Save Our Homes program limits the annual increase in assessed value for homes receiving the Homestead Exemption to the lower of 3% or the consumer price index increase. This can result in significant tax differences between long-term residents and new buyers. Even if the previous owner's assessed value was low, your property will be reassessed based on market value after purchase, which may result in higher actual taxes than the previous owner paid.