Bay County Property Taxes
The median property tax rate in Bay County is 1.10%, which is higher than the national median of 0.99% but slightly lower than Florida's state median of 1.14%. With a median home value of $235,244 in Bay County, the typical annual property tax bill amounts to $2,427, which is below the national median of $2,690. Property taxes in Bay County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Bay County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Panama City or another part of Bay County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bay County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,588
$2,449
Ownwell’s Bay County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Bay County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bay County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Bay County, Florida
Property taxes in Bay County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bay County is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Bay County set these rates annually, and they can vary significantly between different areas within the county. Each year, Bay County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Bay County's effective property tax rate with other counties in Florida and the national median. For comparison, the city of Mexico Beach has one of the higher property tax rates in Florida at 1.37%, while the city of Youngstown boasts one of the lowest at 0.83%. Analyzing how Bay County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bay County Tax Rate
1.10%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bay County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ebro | 0.30% | 0.62% | 1.15% | 1.35% | 1.45% |
| Fountain | 0.18% | 0.43% | 0.86% | 1.29% | 1.37% |
| Lynn Haven | 0.53% | 0.82% | 1.06% | 1.33% | 1.55% |
| Mexico Beach | 0.75% | 1.14% | 1.37% | 1.59% | 1.71% |
| Panama City | 0.54% | 0.81% | 1.09% | 1.28% | 1.65% |
| Panama City Beach | 0.65% | 0.97% | 1.11% | 1.20% | 1.26% |
| Port Saint Joe | 1.07% | 1.19% | 1.33% | 1.56% | 1.71% |
| Southport | 1.02% | 1.26% | 1.27% | 1.29% | 1.33% |
| Youngstown | 0.28% | 0.55% | 0.83% | 1.28% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Bay County, Florida
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Bay County, FL. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Bay County Appraisal District. The assessed value, however, 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. Assessment notices in Bay County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the median home price in Bay County is $235,244. The highest median tax bill is found in Port Saint Joe at $5,952, while Fountain has the lowest at $405. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Bay County Assessed Value
$235,244
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bay County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ebro | $19,212 | $29,564 | $49,367 | $82,782 | $139,876 |
| Fountain | $21,561 | $31,864 | $50,383 | $89,271 | $139,604 |
| Lynn Haven | $120,868 | $158,884 | $214,316 | $283,605 | $379,486 |
| Mexico Beach | $208,785 | $254,639 | $349,836 | $472,712 | $618,151 |
| Panama City | $64,961 | $115,117 | $195,917 | $303,160 | $442,250 |
| Panama City Beach | $165,024 | $242,250 | $335,329 | $484,367 | $658,750 |
| Port Saint Joe | $229,918 | $329,234 | $395,070 | $610,436 | $829,108 |
| Southport | $31,161 | $63,327 | $121,029 | $247,920 | $317,024 |
| Youngstown | $30,957 | $45,912 | $87,694 | $155,479 | $222,628 |
Source: Ownwell
Property Tax Bills Across Bay County, Florida
In Bay County, FL, property tax bills are calculated based on the assessed value of a property, which is determined by the county's property appraiser. This assessed value is then multiplied by the local tax rate, which varies depending on the specific location within the county. Several factors influence the assessed value, including the property's market value, improvements made, and any applicable exemptions. Homeowners in Bay County experience a range of property tax bills. For instance, the 25th percentile tax bill is $1,233, while those in the 75th percentile pay around $3,867. The 90th percentile tax bill can reach as high as $5,872. These variations highlight the impact of property value and location on tax obligations. In comparison to the national median property tax rate of 0.99%, homeowners in Bay County may find their tax rates competitive, though the actual tax burden can vary significantly. The highest median tax bill in the county is in Port Saint Joe at $5,952, while Fountain boasts the lowest at $405, reflecting the diversity in property values and tax rates across the region.
Average Bay County Tax Bill
$2,427
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Bay County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ebro | $118 | $279 | $409 | $755 | $1,213 |
| Fountain | $40 | $199 | $405 | $748 | $1,387 |
| Lynn Haven | $756 | $1,406 | $2,246 | $3,310 | $4,418 |
| Mexico Beach | $2,047 | $3,246 | $4,678 | $6,454 | $8,821 |
| Panama City | $508 | $1,043 | $2,048 | $3,378 | $4,896 |
| Panama City Beach | $1,299 | $2,321 | $3,482 | $5,410 | $7,308 |
| Port Saint Joe | $2,444 | $4,550 | $5,952 | $7,216 | $11,448 |
| Southport | $344 | $746 | $1,556 | $3,145 | $4,010 |
| Youngstown | $143 | $363 | $683 | $1,364 | $2,091 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Bay Property Appraiser | |
| Website | qpublic.schneidercorp.com |