Q: When are property taxes due for FY 2025-2026?
A: Okaloosa County property taxes are due twice yearly: first installment by March 31st and second installment by October 31st. Taxes become delinquent on November 1st if unpaid, triggering penalties and interest charges.
Q: What is the Homestead Exemption and how do I apply?
A: The Homestead Exemption is a tax credit that reduces your taxable assessed value by up to $50,000 for your primary residence. You must apply by March 1st following the year you establish homestead. This is NOT automatic and requires filing Form DR-501 with supporting documentation proving primary residency.
Q: How does Save Our Homes work?
A: Save Our Homes caps annual assessment increases at 3% or the Consumer Price Index (whichever is lower) for homestead properties. This limits assessment growth, not market value. You must apply for homestead status to receive SOH protection. When you sell, the new owner loses this cap unless they transfer SOH benefits from another Florida property.
Q: What other tax credits are available?
A: Additional credits include Senior Exemption (extra $50,000 for qualifying seniors), Disability Exemption, Veterans' Exemptions, and Agricultural Classifications. ALL require separate applications with specific deadlines, typically March 1st. Contact the Property Appraiser's office for qualification requirements and application forms.
Q: Can I appeal my property assessment?
A: Yes, you can request an informal review with the Property Appraiser or file a formal petition with the Value Adjustment Board. The deadline for appeals is typically 25 days after the Notice of Proposed Property Taxes (TRIM notice) is mailed, usually in late August.
Q: Are there penalties for late payment?
A: Yes, unpaid taxes accrue penalties and interest starting November 1st. Interest rates are set by state law and compound monthly. Properties with delinquent taxes may eventually face tax certificate sales or tax deed proceedings.
Q: How can I pay my property taxes online?
A: Visit the Okaloosa County Tax Collector's website to pay online using bank transfer or credit/debit cards. Note that credit card payments may incur convenience fees. You can also pay by mail, phone, or in person at Tax Collector offices.
Q: Why do special district taxes vary so much across the county?
A: Okaloosa County contains numerous special taxing districts for services like fire protection, libraries, and infrastructure. Your location determines which districts apply to your property, creating significant tax rate variations even between neighboring properties. Review your tax bill's detail section to see all applicable districts.
Q: What triggers a supplemental tax assessment?
A: Major triggers include property sales (removing Save Our Homes caps), completion of new construction, significant improvements, changes from agricultural or other special use classifications, and removal or addition of exemptions. Supplemental taxes are prorated based on when the change occurs during the tax year.
Q: Can I transfer Save Our Homes benefits when I move?
A: Yes, Florida residents can transfer (port) Save Our Homes benefits to a new homestead property within the state. You must apply for portability by March 1st following your move. The amount transferred depends on the difference between your old property's assessed and market values.
