Property Taxes in Boca Raton
Property taxes in Boca Raton are layered across city, county, school-district, and special-district levies, and the city genuinely does hold one of the lowest municipal millage rates of any full-service city in Florida -- but that low city rate is only one layer of a combined bill that sources describe quite differently once school and special-district levies are added in.
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Learn moreCity Millage: A Genuine 'Lowest Rate' Claim
The City of Boca Raton's FY2026 city-only millage fell slightly to $3.66 per $1,000 of taxable value, down one cent from the prior year's $3.67, per Coastal Star and TAPinto coverage of the city budget process. Mayor Scott Singer stated this marks the eighth consecutive year Boca Raton has held the lowest tax rate of any full-service city in Florida. A separate source breaks the same rate down as 3.6476 mills for operations plus 0.0173 mills for debt service (about 3.665 mills combined) -- consistent with the headline figure, not a conflicting one.
Rate Cut, Bigger Bill: Rising Taxable Values
Even with the small rate cut, most homeowners are seeing higher tax bills, because citywide taxable values rose an estimated 7.5% for FY2026. A homeowner with a $450,000 taxable value would pay about $1,649 in city-only property tax at the new rate -- but that figure is the city portion alone, not the full combined bill.
Combined Effective Rate: Two Different Numbers
Ownwell's property-record-based analysis puts Boca Raton's median effective property tax rate at 1.07% and its median annual tax bill at $4,905 -- about $2,505 above the national median of $2,400. A separate source describes a more typical Palm Beach County effective combined rate as running 'near 18-19 mills, or roughly 0.9%.' The two figures (1.07% vs. roughly 0.9%) don't fully agree -- a real enough gap to disclose honestly rather than average into one number.
Wide Variation by ZIP Code
Ownwell cites Boca Raton tax bills ranging from about $2,517 in ZIP 33434 up to $9,089 in ZIP 33432 -- driven mainly by differing school-district levies and special assessment districts layered on top of the uniform citywide municipal millage, not by the city rate itself.
Homestead Exemption and Save Our Homes
Florida's standard homestead exemption reduces a primary residence's taxable value by up to $50,000, and the Save Our Homes provision caps annual increases in assessed value for homesteaded properties -- a statewide benefit, not unique to Boca Raton, but a meaningful one given how much South Florida property values have risen over the past decade. This applies only to owner-occupied primary residences.
Investment and Non-Homestead Buyers Pay More
Investment properties, second homes, and any non-homesteaded property in Palm Beach County -- including many Boca Raton condos bought as rentals or vacation units -- are taxed on full assessed value without the Save Our Homes cap, a material consideration given the price premium already documented on the housing-market page.
Key takeaways
- Boca Raton's city-only millage fell slightly to $3.66 per $1,000 of taxable value for FY2026 -- the eighth consecutive year the city has held the lowest full-service-city tax rate in Florida, per the mayor's own statement.
- Despite the rate cut, most homeowners' bills are rising because citywide taxable values increased an estimated 7.5% for FY2026.
- Combined effective tax rate estimates disagree across sources: Ownwell cites a median of 1.07% (median bill $4,905), while another source describes a more typical Palm Beach County effective rate near 0.9% -- a real, disclosed gap rather than one settled figure.
- Tax bills vary enormously by ZIP code within the city -- from about $2,517 (33434) to $9,089 (33432) per Ownwell -- reflecting differing school and special-district levies layered on the uniform city rate.
- The homestead exemption (up to $50,000) and Save Our Homes assessment cap apply only to owner-occupied primary residences; investment and second-home buyers pay full freight.
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