When property values increase and the taxing rate or “millage” stays the same, some homeowners will pay more taxes for a comparable home than a neighbor who has been exempted for years under Homestead Exemption and the Save Our Homes cap.
What is millage? One mill is equal to $1 for every $1,000 of assessed property value. It’s how the taxing authorities calculate your property tax. You see this explained each year on your TRIM notice. The millage rate set by the county only applies to 26 percent of your property tax bill. When the county raises or lowers the millage, that change applies only to the county's portion of your tax bill.
The Pinellas County Property Appraiser’s Website has a sample TRIM notice and a detailed Guide to the TRIM notice for citizens, as well as information on how property is appraised in Pinellas County.