If you’ve ever driven through a beautiful Miami neighborhood and wondered, “How much do these people pay in property taxes?” — you’re not alone. That curiosity is exactly what inspired our latest real estate video: "We Played 'Guess the Property Tax' in a Miami Neighborhood."
And let’s just say... the guesses were all over the place 😅
We walked through a stunning Miami neighborhood, surrounded by million-dollar homes, palm trees, and the kind of curb appeal that screams “luxury.” Then we asked locals, visitors, and real estate pros one simple question:
"How much do you think this homeowner pays in property taxes?"
The answers ranged from very conservative to wildly over-the-top. Some folks guessed $5,000, others went all the way up to $50,000! Watching the reactions when we revealed the real numbers? Priceless.
What this game showed us is that most people don’t really know how property taxes work — especially in Miami. Between homestead exemptions, property value assessments, and millage rates, it’s easy to misunderstand how those numbers are calculated.
Here’s a quick reality check for anyone buying or investing in Miami real estate:
Property taxes are generally around 2% of assessed value in Miami-Dade County.
Homestead exemptions can knock a significant amount off the taxable value for primary residents.
Luxury homes can carry hefty tax bills, but not always as high as people think.
We used real data from the Miami-Dade Property Appraiser’s Office to fact-check each guess in the video — and some were surprisingly accurate!
How property taxes are actually calculated in Miami
Why people overestimate (or underestimate) taxes
The difference between market value and assessed value
Real reactions from Miami locals and buyers