Boca Grande, Florida Property Taxes
The median property tax rate in Boca Grande, FL is 1.60%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Boca Grande, the typical annual property tax bill reaches $16,077, far exceeding the national median of $2,690. Property taxes in Boca Grande are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boca Grande'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 Boca Grande 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
Boca Grande, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$17,911
$16,935
Ownwell’s Boca Grande Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boca Grande with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boca Grande 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 Boca Grande, Florida
Property taxes in Boca Grande, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boca Grande is 1.60%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Boca Grande set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boca Grande 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 Boca Grande's effective property tax rate to other counties in Florida and the national median. For comparison, the 33921 zip code has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Boca Grande provides valuable insights into the varying tax landscape across Charlotte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boca Grande Tax Rate
1.60%
Average Charlotte County Tax Rate
1.42%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boca Grande, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33921 | 0.97% | 1.45% | 1.60% | 1.70% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Boca Grande, Florida
In Boca Grande, 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 Charlotte 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 Boca Grande, 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. The median home price in Boca Grande is $1,119,453. The 25th percentile tax bill is $11,263, while the 75th percentile tax bill is $26,818, and the 90th percentile tax bill reaches $37,728. 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 Boca Grande helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boca Grande Assessed Value
$1,119,453
Average Charlotte County Assessed Value
$241,434
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boca Grande, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33921 | $582,029 | $726,830 | $1,119,453 | $1,873,913 | $2,644,535 |
Source: Ownwell
Property Tax Bills Across Boca Grande, Florida
In Boca Grande, property tax bills are calculated based on the assessed value of your home, which is determined by the Charlotte County Property Appraiser. The assessed value is then multiplied by the local tax rate to determine your tax bill. For instance, with a median home price of $1,119,453, homeowners can expect to pay a significant amount in property taxes. The tax bill varies widely among homeowners. For those in the 25th percentile, the tax bill is around $11,263, while those in the 75th percentile pay approximately $26,818. The top 10% of homeowners face even higher taxes, with bills reaching up to $37,728. This variability is influenced by factors such as property location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Boca Grande's property taxes can be considerably higher, impacting homeowners' financial planning and overall cost of living. Understanding these factors can help homeowners better prepare for their annual tax obligations.
Average Boca Grande Tax Bill
$16,077
Average Charlotte County Tax Bill
$3,041
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Boca Grande, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33921 | $9,283 | $11,263 | $16,077 | $26,818 | $37,728 |
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 | |
|---|---|
| Charlotte Property Appraiser | |
| Website | www.ccappraiser.com |