Glen St Mary, Florida Property Taxes
The median property tax rate in Glen St Mary, FL is 0.63%, significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Glen St Mary, the typical annual property tax bill reaches $1,150, which is notably below the national median of $2,690. Property taxes in Glen St Mary are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glen St Mary's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Glen St Mary or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen St Mary, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,047
$989
Ownwell’s Glen St Mary Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen St Mary with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen St Mary to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Glen St Mary, Florida
Property taxes in Glen St Mary, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen St Mary is 0.63%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Glen St Mary set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen St Mary estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Glen St Mary's effective property tax rate to other counties in Florida and the national median. For comparison, the 32040 zip code has the highest median property tax rate of 0.63%, while the same 32040 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Glen St Mary provides valuable insights into the varying tax landscape across Baker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen St Mary Tax Rate
0.63%
Average Baker County Tax Rate
0.69%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen St Mary, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32040 | 0.28% | 0.45% | 0.63% | 1.27% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Glen St Mary, Florida
In Glen St Mary, Florida, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Baker County Property Appraiser for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Glen St Mary, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Glen St Mary helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Glen St Mary is $166,115, with tax bills ranging from $542 at the 25th percentile to $3,164 at the 90th percentile. The zip code 32040 has both the highest and lowest median tax bill of $1,150.
Average Glen St Mary Assessed Value
$166,115
Average Baker County Assessed Value
$179,041
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen St Mary, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32040 | $72,946 | $98,287 | $166,115 | $305,579 | $418,575 |
Source: Ownwell
Property Tax Bills Across Glen St Mary, Florida
In Glen St. Mary, located in Baker County, FL, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the market value of the home, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. For instance, the median home price in Glen St. Mary is $166,115. Homeowners in this area can expect a range of tax bills, with the 25th percentile being $542 and the 75th percentile reaching $2,068. At the higher end, the 90th percentile tax bill can be as much as $3,164. These taxes fund essential services like schools, public safety, and infrastructure, impacting homeowners by contributing to the overall quality of life in the community. While the national median property tax rate is 0.99%, local rates can vary, influencing the financial burden on homeowners in Glen St. Mary.
Average Glen St Mary Tax Bill
$1,150
Average Baker County Tax Bill
$1,269
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen St Mary, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32040 | $417 | $542 | $1,150 | $2,068 | $3,164 |
Source: Ownwell