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Monroe County Property Appraiser

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Monroe County Property Appraiser

The Monroe Property Appraiser's Office is a constitutional office which is charged with creating a fair and equitable tax roll for the citizens of Monroe.

The Property Appraiser's Office is governed by the Florida Constitution s. 4, Art. VII, Florida Statutes (see, in part, 193.011, 193 and 196), and the Rules and Regulations of the Florida Department of Revenue. The Property Appraiser is an elected official who has autonomy to direct his or her office in compliance with the laws and guidelines set forth by the above entities. The Monroe County Prop

erty Appraiser is responsible for identifying, locating, and fairly valuing all property, both real and personal, within the county for tax purposes. The Property Appraiser has the legal responsibility to discover the market value set by activity in the real estate marketplace and to appraise property accordingly. Our job is to serve the public by providing taxing authorities with accurate and uniform property valuations for tax purposes. The taxing authorities determine a tax rate according to how much money they need to fund their budgets. The market value of your property is a prediction of the most probable selling price, based on actual sales of like properties in similar neighborhoods. It is the duty of the Property Appraiser to gather and analyze the data of these sales. Through the study of this information, the Property Appraiser places a fair market value on every piece of property in Monroe County.

09/02/2026

The Monroe County Property Appraiser’s Office will be closed Monday, September 7, 2026, in observance of Labor Day. We will re-open on Tuesday, September 8 at 8:00 am. Please visit our website for property and exemption information at www.mcpafl.org

Have a safe and enjoyable Labor Day!

09/01/2026

As a taxpayer, you have a right to ask questions and voice concerns regarding the proposed tax (millage) rates and budgets for each taxing authority. These two pieces, budget and the millage rate, are what determine how much your taxes will be.

The Property Appraiser has no influence over tax rates or budgets. Our valuation is independent of the taxing jurisdictions and is completed before the budget season. It is based on sales that have occurred in the market.

The Public Hearings column contains information regarding the individual taxing authorities' scheduled meeting locations, dates, and times, as well as, contact information.

If you have any questions, concerns, or wish to discuss the amount or use of taxes, we strongly encourage you to attend the hearings, or call your local taxing authority. A list of the scheduled budget hearings by taxing authority is available on our website.

https://www.mcpafl.org/appraisal/trim/

08/27/2026

Understanding Your TRIM Notice: Property Tax Exemptions

In addition to your property values, your TRIM Notice contains important information about the exemptions applied to your property.

📄 Take a look at Page 2!
Your exemption information appears in the two sections highlighted in the example below. If you receive a Homestead Exemption or other property tax exemptions, you should see amounts listed in these areas. For non-homesteaded properties, these sections will show zero.

🔎 Be sure to review your TRIM Notice carefully to make sure the exemptions you applied for are reflected correctly.

In the example below, the property received a Homestead Exemption in the prior year, and the Assessed Value increased by the statutory Save Our Homes cap of 2.7%.

⚠️ An important reminder about Homestead Exemption:
When Homestead Exemption is newly established on a property, the property's Just (Market), Assessed, and Taxable Values are affected by the establishment of a new base year under Florida law. All values will be the same in the first year. Then applicable exemption amounts are deducted when calculating Taxable Value.

If you transferred portability from a previous homesteaded property, that benefit will also be applied when determining your Assessed Value.

Understanding these values and exemptions can sometimes be confusing, and we're here to help!

📞 If you have questions about Homestead Exemption, portability, or the values shown on your TRIM Notice, call our office at 305-292-3420. We will be happy to walk through your Notice with you

08/25/2026

🏠 What Are All These Values on My TRIM Notice?

Market Value, Assessed Value, Taxable Value...what does it all mean?Let’s break it down!

In a previous post, we discussed Market Value, which is the most probable price your property would sell for in a competitive, open market. There is **NO statutory limit** on how much Market Value can increase or decrease from year to year. It changes based on the actions of buyers and sellers in the real estate market.

📊 So, what is Assessed Value?
Unlike Market Value, Assessed Value may be capped or limited by Florida law, depending on whether your property is homesteaded or non-homesteaded.

🏡 Homesteaded Property:
If you have been granted Homestead Exemption, your property benefits from the "Save Our Homes" assessment limitation. Your Assessed Value may increase by no more than 3% or the Consumer Price Index (CPI), whichever is less, each year.

In the example below, the property is homesteaded and the applicable Save Our Homes limitation for 2026 is 2.7%.

Last year's Assessed Value: $549,096
$549,096 × 1.027 = $563,921

That makes $563,921 the new Assessed Value.

🏢 Non-Homesteaded Property:
Non-homestead property is generally subject to a 10% assessment limitation. However, this limitation does not apply to the School Board assessment, which is based on 100% of Market Value.

Whether your property is homesteaded or not, Assessed Value cannot exceed Market Value.

💰 What is Taxable Value?
Taxable Value is the value used to calculate your property taxes. It is determined by subtracting applicable exemptions from the Assessed Value.

In our example:

Assessed Value: $563,921
Homestead Exemptions: $51,411
Taxable Value: $512,510

You may notice that the Public Schools exemption is only $25,000. That's because the additional homestead exemption does not apply to School Board taxes.

📌 **The important takeaway:**
Market Value reflects the real estate market.
Assessed Value reflects applicable assessment limitations.
Taxable Value is the value used to calculate your property taxes.

We know this can be confusing, and we're here to help! If you have questions about the values shown on your TRIM Notice, give us a call and we'll be happy to review them with you.

📞 Key West: 305-292-3420
📞 Marathon: 305-289-2550
📞 Plantation Key: 305-853-7353

08/24/2026

As everyone begins receiving and reviewing their Notice of Proposed Property Taxes (TRIM Notice), we’re breaking down each section to help you better understand the information it contains.

First, let’s take a closer look at your property’s Market Value and how it is determined.

Your Market Value represents what your property would likely sell for in the open market as of January 1. Unlike Assessed Value, Market Value is not capped or limited and can increase or decrease each year based on changes in the real estate market.

It’s also important to remember that Market Value is generally not the value used to calculate your property taxes. Your property taxes are based on your Taxable Value, after applicable assessment limitations and exemptions are applied.

There are some exceptions, particularly during the first year following a change in ownership or for non-homesteaded property. We’ll explain more about that in an upcoming post! Stay tuned!

08/19/2026

The 2026 Notice of Proposed Taxes (TRIM Notice) should be in your mailbox! If you have not received it yet, an electronic version is available at mcpafl.org.

Visit www.mcpafl.org, and click on Property Search. Then search by name, address or account number to bring up your parcel. Scroll to the bottom of the property card and click on the TRIM pdf.

📞 Questions? Call our office at 305-292-3420. We are here help!

08/11/2026

As the final wall of the old Key West Sears store comes down, we’re taking a look back at a familiar piece of our island’s past.

These photos from 1966 and 1971 bring back memories of a place that was part of everyday life in Key West for generations. When the shopping center first opened in 1965, only about half of the stores were ready for business, with the remainder still under construction.

For longtime residents, Sears was more than just a store. It was a familiar landmark, a place to shop, run into neighbors, and make memories along the way.

As the last remnants come down, we say a fond farewell to a place that marked an era and became a memorable part of Key West’s history.

08/03/2026

Your 2026 TRIM Notice Is On the Way!

Don't throw it away! Your 2026 Truth in Millage (TRIM) Notice will be mailed beginning August 14, 2026.

If you don't receive your notice by mail, it will also be available to view online at www.mcpafl.org.

When you receive your notice, please review it carefully for accuracy. It contains important information about your property, including:

🏠 Any property tax exemptions you have applied for or currently receive
📊 Your property's market, assessed and taxable values
💰 Proposed property taxes
🏛️ Budget meeting information for the taxing authorities that set your tax rates

If you have questions about your property's value, exemptions, or any information on your TRIM Notice, call our office at 305-292-3420. We're here to help!

Please remember, the Monroe County Property Appraiser's Office determines your property's value and administers exemptions, but we do not set your tax rates.

07/31/2026

We're Back!

The Monroe County Property Appraiser's Real Estate & Exemptions Department has returned to its first-floor office in the rear of the Old Courthouse in Key West.

If you're visiting us to file for a Homestead Exemption, apply for other property tax exemptions, update your records, or have questions about your property, you'll now find our team back in our original location.

📍 First Floor – Rear of the Old Courthouse - 500 Whitehead Street

For more information, visit www.mcpafl.org or contact our office. We look forward to serving you!

Address

500 Whitehead Street
Key West, FL
33040

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Telephone

+13052923420

Website

http://www.mcpafl.org/

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