Hillsborough County, FL — Property Tax Underwriting Guide
Florida · Annual market review
What this means for multifamily underwriting
Hillsborough County (Tampa, Brandon) is a major Florida multifamily market with significant HUD lending activity. The Tampa Bay metro has strong rent growth fundamentals.
Transaction type breakdown
Non-homestead commercial/multifamily is reassessed to just (market) value annually. The 10% non-homestead cap resets on qualifying ownership changes.
Refinance alone does not trigger reassessment.
Sale, foreclosure, or qualifying transfer of ownership removes the 10% non-homestead cap.
Tax appeal information
19.0 mill (1.9% effective) is a mid-county estimate for Hillsborough.
Guide review
County guidance last reviewed: June 15, 2026
Tax-rate scope: County-level underwriting placeholder; not a parcel-specific tax rate.
Official sources: Hillsborough Property Appraiser
Market-annual model and cap-reset rule are verified; combined millage is a county-level placeholder.
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Hillsborough County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Hillsborough County deal.