Cape Canaveral, Florida Property Taxes
The median property tax rate in Cape Canaveral, FL is 1.15%, slightly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Cape Canaveral at $248,680, the typical annual property tax bill is $2,288, which, while below the national median of $2,690, still represents a significant expense for homeowners. Property taxes in Cape Canaveral are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence exemption. Understanding Cape Canaveral's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cape Canaveral or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Cape Canaveral, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,860
$2,704
$1,148
Average Cape Canaveral, Florida Tax Savings
Ownwell’s Cape Canaveral Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cape Canaveral with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cape Canaveral to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Cape Canaveral. 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 Cape Canaveral, Florida
Property taxes in Cape Canaveral, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cape Canaveral is 1.15%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Cape Canaveral set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cape Canaveral 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 Cape Canaveral's effective property tax rate to other counties in Florida and the national median. For comparison, the 32920 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Cape Canaveral provides valuable insights into the varying tax landscape across Brevard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cape Canaveral Tax Rate
1.15%
Average Brevard County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cape Canaveral, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32920 | 0.38% | 0.76% | 1.15% | 1.23% | 1.32% |
Source: Ownwell
$1,148
Average Cape Canaveral Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Cape Canaveral, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cape Canaveral, Florida. 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 local appraisal district 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 Cape Canaveral, 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. For instance, the median home price in Cape Canaveral is $248,680, with the 25th percentile tax bill at $1,227 and the 75th percentile at $3,554. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cape Canaveral Assessed Value
$248,680
Average Brevard County Assessed Value
$243,020
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cape Canaveral, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32920 | $98,420 | $162,480 | $248,680 | $358,150 | $448,530 |
Source: Ownwell
$1,148
Average Cape Canaveral Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Cape Canaveral, Florida
Property tax bills in Cape Canaveral, located in Brevard County, FL, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Cape Canaveral, the median home price is $248,680, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $1,227, while the 75th percentile reaches $3,554, and the 90th percentile goes up to $4,838. Several factors influence the assessed value, including property size, location, and market conditions. These tax bills can significantly impact homeowners, especially when they rise unexpectedly. Ownwell can help homeowners in Cape Canaveral by providing property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it with similar properties, Ownwell ensures you are not overpaying. This can lead to substantial savings and reduce the financial burden on homeowners.
Average Cape Canaveral Tax Bill
$2,288
Average Brevard County Tax Bill
$2,198
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cape Canaveral, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32920 | $597 | $1,227 | $2,288 | $3,554 | $4,838 |
Source: Ownwell
$1,148
Average Cape Canaveral Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Brevard Property Appraiser | |
| Website | www.bcpao.us |
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