Cocoa, Florida Property Taxes
The median property tax rate in Cocoa, FL is 0.96%, slightly below the national median of 0.99% and significantly lower than Florida's state median of 1.14%. With a median home value of $198,280 in Cocoa, the typical annual property tax bill amounts to $1,569, which is well below the national median of $2,690. Property taxes in Cocoa are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cocoa'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 Cocoa or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cocoa, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,903
$1,800
$1,148
Average Cocoa, Florida Tax Savings
Ownwell’s Cocoa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cocoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cocoa 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 Cocoa. 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 Cocoa, Florida
Property taxes in Cocoa, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cocoa is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Cocoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cocoa 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 Cocoa's effective property tax rate to other areas in Florida and the national median. For comparison, the 32922 zip code has the highest median property tax rate of 1.56%, while the 32927 zip code has the lowest median tax rate of 0.84%. Understanding how these areas compare with Cocoa 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 Cocoa Tax Rate
0.96%
Average Brevard County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cocoa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32922 | 0.60% | 0.82% | 1.56% | 1.89% | 2.27% |
| 32926 | 0.57% | 0.68% | 0.98% | 1.46% | 1.81% |
| 32927 | 0.46% | 0.50% | 0.84% | 1.30% | 1.47% |
| 32955 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Cocoa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Cocoa, Florida
In Cocoa, 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 Brevard County 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 Cocoa, 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. For instance, the highest median tax bill in Cocoa is $1,636 in the 32926 zip code, while the lowest median tax bill is $1,336 in the 32922 zip code. Being aware of these valuation processes in Cocoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cocoa Assessed Value
$198,280
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 Cocoa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32922 | $34,710 | $66,550 | $111,775 | $157,662 | $290,750 |
| 32926 | $48,290 | $99,095 | $184,450 | $272,875 | $351,990 |
| 32927 | $121,140 | $187,378 | $220,965 | $256,750 | $293,639 |
| 32955 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Cocoa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Cocoa, Florida
In Cocoa, Brevard County, FL, property tax bills are calculated based on the assessed value of your home. The median home price in Cocoa is $198,280, and property taxes are determined by multiplying the assessed value by the local tax rate. The tax bill varies significantly, with the 25th percentile at $957 and the 75th percentile at $2531, reflecting differences in property values and exemptions. The highest median tax bill in Cocoa is $1636 in zip code 32926, while the lowest is $1336 in zip code 32922. Factors influencing your tax bill include the home's assessed value, local tax rates, and any applicable exemptions. High property taxes can be a burden for homeowners, but that's where Ownwell can make a difference. By offering expert property tax appeal and exemption services, Ownwell can help you lower your assessed value, ensuring you pay a fair amount. This could potentially save you hundreds or even thousands of dollars annually, making homeownership more affordable.
Average Cocoa Tax Bill
$1,569
Average Brevard County Tax Bill
$2,198
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cocoa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32922 | $571 | $790 | $1,336 | $2,161 | $3,768 |
| 32926 | $617 | $964 | $1,636 | $2,628 | $3,612 |
| 32927 | $782 | $1,011 | $1,636 | $2,587 | $3,281 |
| 32955 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
$1,148
Average Cocoa 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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