Valrico FL Property Taxes Explained: Rates, Exemptions, and What You'll Pay

Barrett Henry, REALTOR®·May 10, 2026·3 min read

How Much Are Property Taxes in Valrico FL?

On a $415,000 home in Valrico (the current median), expect to pay approximately $7,500 to $8,700/year in property taxes before homestead exemption. After homestead, that drops by roughly $900 to $1,000.

Here is how it works.

How Valrico Property Taxes Are Calculated

Valrico is unincorporated Hillsborough County. Your property taxes are calculated using the assessed value multiplied by the combined millage rate.

Combined millage rate for Valrico: Approximately 19 to 21 mills (varies slightly by year)

This includes:

  • Hillsborough County general fund
  • Hillsborough County School Board
  • Southwest Florida Water Management District (SWFWMD)
  • Hillsborough County Library
  • Children's Board
  • No city tax (Valrico is unincorporated)

The lack of city tax is a real savings. If you lived within Tampa city limits, you would pay an additional 6+ mills.

Florida Homestead Exemption

If this is your primary residence and you file for homestead exemption:

  • First $25,000 of assessed value is exempt from ALL property taxes
  • The next $25,000 ($25,001-$50,000) is exempt from all taxes EXCEPT school district taxes
  • Net effect: roughly $900 to $1,000/year savings

Important: You must file for homestead exemption with the Hillsborough County Property Appraiser by March 1 of the year following purchase. Do not skip this step.

Save Our Homes Cap

Once you homestead a property in Florida, annual assessed value increases are capped at 3% or CPI (whichever is lower). This is called the Save Our Homes cap. Over time, your assessed value can fall significantly below market value, keeping your taxes stable even as home prices rise.

This is one of the reasons long-term Florida homeowners have surprisingly low tax bills compared to new buyers.

CDD Fees: The Hidden Tax

Some newer Valrico subdivisions (Buckhorn, Arista, Heritage Crest) have Community Development District (CDD) assessments. CDDs are special taxing districts that fund infrastructure built by the developer.

CDD fees typically run $1,500 to $2,500/year and appear on your tax bill. They are NOT included in the standard millage rate.

Always ask about CDD when buying in Valrico. Not all neighborhoods have them. Older neighborhoods like Bloomingdale, River Hills, Twin Lakes, and Brentwood Hills typically do not.

Typical Tax Bills by Neighborhood

| Neighborhood | Typical Home Value | Est. Annual Tax | CDD? |

|---|---|---|---|

| Bloomingdale | $350K-$500K | $6,500-$9,200 | No |

| River Hills | $400K-$1M+ | $7,400-$18,500 | No |

| Buckhorn Preserve | $375K-$525K | $8,500-$11,500 | Yes |

| Twin Lakes | $350K-$475K | $6,500-$8,800 | No |

| Diamond Hill | $600K-$800K | $11,100-$14,800 | No |

| Arista | $450K-$600K | $10,200-$13,500 | Yes |

Estimates include CDD where applicable. Actual taxes vary by assessment year and exemptions.

How to Look Up Any Property's Tax Bill

Go to the Hillsborough County Property Appraiser website and search by address. You can see the current assessed value, exemptions, and exact tax bill for any property. This is public information.

Barrett Henry always pulls tax records during the buying process so there are no surprises. Call (813) 733-7907 for a free buyer consultation.

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Frequently Asked Questions

What is the property tax rate in Valrico FL?

The combined millage rate is approximately 19-21 mills. On a $415K home, expect roughly $7,500-$8,700/year before homestead exemption.

Does Valrico have city taxes?

No. Valrico is unincorporated Hillsborough County. Residents pay county taxes but no city tax, saving several hundred dollars per year compared to incorporated areas.

What is the homestead exemption in Florida?

Florida homestead exemption removes $50,000 from your assessed value for tax purposes, saving approximately $900-$1,000/year. You must file by March 1 following your purchase.

What are CDD fees in Valrico?

CDD (Community Development District) fees are special assessments in newer subdivisions that fund infrastructure. They typically run $1,500-$2,500/year. Older neighborhoods like Bloomingdale and River Hills do not have CDDs.