How do property taxes compare on a $500,000 home in California, New Jersey, and Florida?

On a $500,000 home, you can expect to pay roughly $3,800 in California, around $12,150 in New Jersey, and about $4,400 in Florida (Brevard County, on the Space Coast). Florida also has no state income tax.

If you are looking at moving to the Space Coast from a higher-tax state, the property tax line is one of the first numbers you want to run. I help relocation buyers compare cost of living in Brevard County, Florida every week, and the property tax conversation almost always comes up before the school zone conversation, before the commute conversation, before anything else.

Let's break down the actual numbers using a $500,000 purchase price in California, New Jersey, and Florida, with Brevard County on the Space Coast as the Florida example.

What are property taxes on a $500K home in California?

California uses Proposition 13. The base property tax rate is capped at 1 percent of the assessed value, plus voter-approved local add-ons. Most California counties end up between 1.1 percent and 1.25 percent effective.

On a $500,000 home in California at 1.1 percent, you are looking at about $5,500 the first year. After the homeowner exemption of $7,000 off the assessed value, that drops by around $70 to roughly $5,430. The Tax Foundation reports California's effective property tax rate as one of the lower ones in the country at about 0.71 percent on existing owner-occupied homes, because Prop 13 limits how fast assessments can rise. See the Tax Foundation property tax data here.

The catch with California is everything else. State income tax tops out at 13.3 percent. Sales tax is 7.25 percent statewide, often over 9 percent locally. Insurance and utility costs are climbing fast.

What are property taxes on a $500K home in New Jersey?

New Jersey has the highest effective property tax rate in the country. The Tax Foundation puts the state average at about 2.23 percent of assessed value on owner-occupied homes.

On a $500,000 home in New Jersey, that works out to roughly $11,150 to $12,150 per year, depending on the municipality. Towns like Tenafly, Princeton, and Millburn often run higher. Even in lower-tax New Jersey counties, you are still paying double or triple what most Florida buyers pay. State revenue departments publish these rates annually and they have not moved meaningfully downward.

New Jersey also has state income tax up to 10.75 percent and an inheritance tax in some circumstances.

What are property taxes on a $500K home in Florida (Brevard County)?

Florida has no state income tax. Property taxes in Brevard County run between 0.85 percent and 1.05 percent of assessed value, depending on the city. On a $500,000 home on the Space Coast, that is roughly $4,250 to $5,250 in the first year before exemptions.

Florida primary residents get a homestead exemption of $25,000, plus an additional $25,000 on non-school taxes. That can reduce the taxable value by up to $50,000. After homestead, a $500,000 Brevard County home often pays between $3,800 and $4,400 per year in property tax. The Brevard County Property Appraiser website publishes the millage rates by city. Florida also has the Save Our Homes cap, which limits annual assessed value increases to 3 percent for primary residents.

Side-by-side: $500K home property tax comparison

State Effective rate Annual tax estimate State income tax
California 1.10 percent $5,430 (after exemption) Up to 13.3 percent
New Jersey 2.23 percent $11,150 to $12,150 Up to 10.75 percent
Florida (Brevard County) 0.85 to 1.05 percent $3,800 to $4,400 (after homestead) None

What this means for relocation buyers on the Space Coast

If you are moving from New Jersey to the Space Coast, you are likely saving $7,000 to $8,000 per year on property tax alone on a $500,000 home, plus state income tax savings on top. From California, the property tax difference is smaller, but you pick up the no-income-tax advantage and lower sales tax.

Brevard County's population grew to 663,982 as of the July 2025 Census estimate, and a meaningful share of that growth came from buyers from the Northeast and California who ran exactly this math. The cost of living delta is real on the Space Coast.

One caveat that surprises buyers: Florida homeowners insurance and flood insurance can offset some of the tax savings, especially beachside in cities like Cocoa Beach, Satellite Beach, or Indialantic. Always run the full monthly payment, not just the tax line.

FAQ

Does Brevard County reassess my property when I buy?

Yes. When you buy a home on the Space Coast, the property is reassessed to market value for the next tax year. That is why your first full year of taxes can be higher than what the seller paid, especially if they had homestead for many years.

Can I keep my homestead cap when I move within Florida?

Yes. Florida's portability rules let you transfer up to $500,000 of your Save Our Homes benefit to a new primary residence in Florida, including a move to Brevard County from another county. Apply through the Brevard County Property Appraiser.

What is the millage rate where I am looking?

It varies by city within Brevard County. Melbourne, Viera, Merritt Island, Rockledge, Titusville, and the beach cities all have slightly different combined millage rates. The Brevard County Property Appraiser publishes the current year's rates online.

If you are running the numbers on a move to the Space Coast, my partner Nichole and I got your back. Reach out anytime at (321) 212-7676 or www.livingspacecoast.com.

Read next: selling an inherited home in Brevard County