Printable cheat sheet

    Florida millage and property tax cheat sheet

    Built for Florida sales associate exam prep. Use this to separate assessed value, taxable value, school mills, non-school mills, and the final ask before calculating.

    Open calculator
    Start with valueAssessed value - exemptions

    If the problem gives assessed value and exemptions, subtract exemptions before applying any mills.

    One mill$1 per $1,000

    Divide taxable value by 1,000, then multiply by the millage rate.

    Tax formulaTaxable value / 1,000 x mills

    This gives annual property tax for the millage category used in the question.

    School taxable valueAssessed value - first exemption

    The additional homestead exemption does not reduce school taxes.

    Non-school taxable valueAssessed value - applicable exemptions

    For current 2026 homestead math, the adjusted additional non-school layer is $26,411 when assessed value is high enough.

    Save Our HomesCap assessed value first

    If the stem gives prior assessed value and a cap, apply the cap before subtracting exemptions.

    The exam setup rule

    1. Identify whether the question gives assessed value or taxable value.
    2. Subtract the exemptions stated in the question before applying mills.
    3. Keep school and non-school taxable values separate when the stem separates them.
    4. Divide taxable value by 1,000 before multiplying by mills.
    5. Stop when the question asks for taxable value, school tax, non-school tax, or total tax.

    Five worked examples

    Basic millage$260,000 taxable value at 20 mills

    $260,000 / 1,000 x 20 = $5,200.

    Homestead school split$310,000 assessed value, $25,000 first exemption, $26,411 additional exemption

    School taxable value is $285,000. Non-school taxable value is $258,589.

    Save Our Homes$200,000 prior assessed value, $250,000 current value, 2.7% cap, $51,411 non-school homestead exemption, 18 mills

    $200,000 x 1.027 = $205,400. $205,400 - $51,411 = $153,989. $153,989 / 1,000 x 18 = $2,771.80.

    School tax$285,000 school taxable value at 6.2 mills

    $285,000 / 1,000 x 6.2 = $1,767.

    Total tax$1,767 school tax plus $3,620.25 non-school tax

    Add them only when the question asks for total tax. Total: $5,387.25.

    Traps to check

    1. Do not treat mills like a percent.
    2. Do not multiply assessed value before subtracting exemptions.
    3. Do not apply the additional homestead exemption to school taxes unless the stem says to.
    4. Do not use a flat $25,000 additional exemption for current 2026 law unless the stem gives that amount.
    5. Do not combine school and non-school mills until you know whether the taxable values are the same.
    6. Do not subtract exemptions before applying a Save Our Homes cap when the stem gives one.
    7. Do not treat the 3 percent SOH ceiling as fixed. Florida DOR lists the 2026 cap at 2.7 percent.
    8. Do not use a live tax bill shortcut. Follow the numbers in the exam question.

    Sanity check

    1. Higher taxable value should create higher tax when the millage stays the same.
    2. Higher mills should create higher tax when the taxable value stays the same.
    3. A larger exemption should lower tax, not raise it.
    4. If school and non-school taxes are separated, the non-school taxable value may be lower than the school taxable value.
    Practice the patternPass Florida drills millage, homestead, and mixed property tax math.

    Use the calculator, Math Coach, Trap Library, and 1,002 Florida-specific questions in the Pass Florida app.

    Get Pass Florida

    Sources reviewed June 20, 2026: Florida Department of Revenue homestead exemption, additional exemption CPI, and Save Our Homes tables; F.S. 196.031; F.S. 193.155; Florida Constitution Article VII, Sections 4 and 6; DBPR Real Estate Sales Associate Candidate Information Booklet; Pearson VUE Florida Real Estate testing materials; and CS/HJR 1-F. For exam prep only, not tax, appraisal, closing, or legal advice.

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