Monroe County Property Assessments: What to Know Before Year-End

If you own property in Monroe County (the Florida Keys), here’s a friendly breakdown of how assessments, tax bills, and appeals work and what you should do as the year winds down.

How Property Assessments Work

• The sets assessed values for real property as of January 1 each year.

• They apply exemptions (like the homestead exemption) and classifications that can reduce the taxable value.

• Once values are set and taxing authorities decide their millage (tax) rates, the tax roll is certified and sent for billing.

When Tax Bills Arrive & Payment Timing

• Tax notices are generally mailed out on or before November 1.

• You’ll usually find early-payment discount opportunities:

  • 4% discount for payments made in November

  • 3% in December

  • 2% in January

  • 1% in February

  • Full gross amount due in March; delinquent as of April 1.

Make sure your mailing address is current. If you don’t receive a bill, you’re still responsible for paying.

How to Plan & Prepare Ahead

• Review your assessed value as soon as the new assessment roll is posted (usually early in the year). Compare to recent comparable sales to check accuracy.

• Confirm exemptions if you qualify (homestead, senior, widow(er), etc.), and make sure they’re applied correctly before the deadline.

• Budget for payment, given the timing and discounts, it's wise to earmark funds now so you can pay early and save.

• Save documentation, keep recent appraisal reports, purchase or remodel receipts, photos, etc., in case you need to appeal.

• Set aside for possible appeals, if you believe the assessed value is too high, you have the right to file a value-adjustment appeal (through the appropriate board) within stated deadlines.

  
  

As we approach year-end, this is a smart time to check in on your property’s assessed value, ensure all exemptions are in place, and plan your payment strategy (or potential appeal). Being proactive means fewer surprises and more control over your tax exposure heading into the new year.