Taxes & Insurance in Lake Mary
Seminole County raised its property-tax millage for the first time in 16 years for fiscal 2025-26, and Lake Mary's homeowners-insurance costs have climbed sharply in the same window -- both are real, recent cost increases worth budgeting for, not legacy figures.
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Learn moreProperty taxes
Seminole County's general county millage rate rose to $5.3751 per $1,000 of assessed value for tax year 2025, up from $4.8751 -- the county's first increase in 16 years, approved in September 2025. The broader aggregate millage (covering countywide purposes and special taxing units) runs $7.3663 per $1,000, a 12.7% increase over the prior year's rolled-back rate. Total actual millage on a given Lake Mary property -- which layers in municipal, school-district, and special-district rates -- typically runs in the 8-12 mill range depending on the property's specific taxing districts, per Seminole County budget documents.
Homeowners and flood insurance
Central Florida (Orange, Seminole, and Osceola counties) homeowners insurance averages $2,330-$3,645 per year, and Seminole County premiums specifically rose about 37% from 2022 to 2024. A separate source cites a much higher $6,000-$10,000 range for the county, which most plausibly reflects higher-value homes rather than a typical policy. Flood insurance is a separate line item -- standard Florida homeowners policies exclude flood damage -- and for parts of Lake Mary in FEMA-designated flood zones, moderate-risk-zone NFIP premiums in the Central Florida region run $400-$1,000/yr and high-risk-zone premiums $1,500-$5,000/yr, against a statewide single-family average of $1,363/yr.
Key takeaways
- Seminole County's 2025 property-tax increase was its first in 16 years -- general county millage rose from 4.8751 to 5.3751 per $1,000 of value; total actual rates on a given property typically run 8-12 mills once municipal and school-district components are added.
- Homeowners insurance in the Seminole/Orange/Osceola tri-county area averages $2,330-$3,645/yr, but rose about 37% in Seminole County alone from 2022-2024.
- Flood insurance is separate from homeowners coverage; parts of Lake Mary sit in FEMA flood zones where premiums can range from roughly $400/yr (moderate risk) to $5,000/yr (high risk) -- verify a specific property's flood zone before budgeting.
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