Citrus County Property Taxes
The median property tax rate in Citrus County is 0.82%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Citrus County at $196,001, the typical annual property tax bill amounts to $1,605, significantly below the national median of $2,690. Property taxes in Citrus County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Citrus 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 Inverness or another part of Citrus County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Citrus County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,607
$1,520
Ownwell’s Citrus County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Citrus County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Citrus 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, taking into account any exemptions you may have on your property.
Property Tax Rates Across Citrus County, Florida
Property taxes in Citrus County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Citrus County is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Citrus County set these rates annually, and they can vary significantly between different areas within the county. Each year, Citrus 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 Citrus County's effective property tax rate with other counties in Florida and the national median. For comparison, the city of Inglis has one of the higher property tax rates in Florida at 1.06%, while the city of Inverness boasts one of the lowest at 0.73%. Analyzing how Citrus County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Citrus County Tax Rate
0.82%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Citrus County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | 0.32% | 0.51% | 0.78% | 1.26% | 1.45% |
| Brooksville | N/A | N/A | N/A | N/A | N/A |
| Citrus Springs | 0.38% | 0.49% | 0.84% | 1.38% | 1.58% |
| Crystal River | 0.34% | 0.48% | 0.91% | 1.42% | 1.62% |
| Dunnellon | 0.35% | 0.48% | 0.84% | 1.39% | 1.58% |
| Floral City | 0.31% | 0.42% | 0.74% | 1.35% | 1.54% |
| Hernando | 0.39% | 0.58% | 0.92% | 1.37% | 1.55% |
| Holder | 0.28% | 0.43% | 0.76% | 1.40% | 1.54% |
| Homosassa | 0.34% | 0.51% | 0.82% | 1.37% | 1.57% |
| Inglis | 0.31% | 0.54% | 1.06% | 1.46% | 1.58% |
| Inverness | 0.33% | 0.42% | 0.73% | 1.35% | 1.59% |
| Lecanto | 0.38% | 0.53% | 0.79% | 1.32% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Citrus County, Florida
In Citrus County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Citrus 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 Citrus 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 Citrus County is $196,001, with tax bills ranging from $788 at the 25th percentile to $4,089 at the 90th percentile. Notably, Hernando has the highest median tax bill at $1,899, while Holder has the lowest at $777. Being aware of these valuation processes in Citrus County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Citrus County Assessed Value
$196,001
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Citrus County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | $117,380 | $133,856 | $190,279 | $346,112 | $439,404 |
| Brooksville | N/A | N/A | N/A | N/A | N/A |
| Citrus Springs | $139,317 | $171,895 | $202,160 | $232,342 | $272,575 |
| Crystal River | $81,693 | $134,424 | $194,241 | $294,530 | $473,816 |
| Dunnellon | $73,612 | $121,578 | $190,414 | $252,544 | $359,422 |
| Floral City | $60,302 | $93,852 | $159,770 | $232,476 | $321,121 |
| Hernando | $61,776 | $122,734 | $240,696 | $354,680 | $456,484 |
| Holder | $42,655 | $73,225 | $103,780 | $136,965 | $196,488 |
| Homosassa | $74,168 | $128,004 | $201,499 | $299,942 | $384,779 |
| Inglis | $43,510 | $70,602 | $182,704 | $350,876 | $497,324 |
| Inverness | $95,501 | $134,676 | $180,603 | $237,211 | $324,543 |
| Lecanto | $94,839 | $165,402 | $237,212 | $301,141 | $407,387 |
Source: Ownwell
Property Tax Bills Across Citrus County, Florida
In Citrus County, FL, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Citrus County is $196,001, and property tax rates can vary significantly within the county. For example, in Hernando, the highest median tax bill is $1,899, while in Holder, the lowest median tax bill is $777. Tax bills also vary by percentile: the 25th percentile tax bill is $788, the 75th percentile is $2,717, and the 90th percentile reaches $4,089. These variations in tax bills can significantly impact homeowners, influencing their annual budget and the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Citrus County's tax rates can be more or less burdensome depending on the specific location within the county. This makes it crucial for homeowners to understand their local tax obligations and how they are calculated.
Average Citrus County Tax Bill
$1,605
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Citrus County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | $468 | $872 | $1,764 | $2,801 | $4,192 |
| Brooksville | N/A | N/A | N/A | N/A | N/A |
| Citrus Springs | $638 | $996 | $1,708 | $2,687 | $3,402 |
| Crystal River | $509 | $808 | $1,641 | $2,930 | $5,359 |
| Dunnellon | $446 | $707 | $1,498 | $2,630 | $3,670 |
| Floral City | $332 | $613 | $1,091 | $1,975 | $3,119 |
| Hernando | $499 | $895 | $1,899 | $3,378 | $5,010 |
| Holder | $213 | $496 | $777 | $1,432 | $1,829 |
| Homosassa | $450 | $792 | $1,638 | $2,769 | $4,191 |
| Inglis | $183 | $543 | $1,284 | $4,015 | $5,731 |
| Inverness | $479 | $681 | $1,414 | $2,371 | $3,350 |
| Lecanto | $554 | $1,028 | $1,817 | $2,995 | $4,260 |
Source: Ownwell
Don't miss the deadline to petition!
Links | |
|---|---|
| Citrus Property Appraiser | |
| Website | www.citruspa.org |