Lake Suzy, Florida Property Taxes
The median property tax rate in Lake Suzy, FL is 1.30%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Lake Suzy at $146,250, the typical annual property tax bill reaches $2,160, which is below the national median of $2,690. Property taxes in Lake Suzy 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 Lake Suzy'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 Lake Suzy 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
Lake Suzy, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,901
-$19,925
Ownwell’s Lake Suzy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Suzy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Suzy 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 Lake Suzy, Florida
Property taxes in Lake Suzy, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Suzy is 1.30%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Lake Suzy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Suzy 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 Lake Suzy's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 34269 has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Lake Suzy provides valuable insights into the varying tax landscape across DeSoto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Suzy Tax Rate
1.30%
Average Desoto County Tax Rate
1.14%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Suzy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34269 | 0.65% | 0.83% | 1.30% | 1.75% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Lake Suzy, Florida
In Lake Suzy, 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 DeSoto County Property Appraiser 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 Lake Suzy, 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. Being aware of these valuation processes in Lake Suzy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lake Suzy is $146,250, with median tax bills ranging from $1,208 at the 25th percentile to $5,000 at the 90th percentile. The highest and lowest median tax bills are both $2,160 in zip code 34269.
Average Lake Suzy Assessed Value
$146,250
Average Desoto County Assessed Value
$148,552
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Suzy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34269 | $75,000 | $108,500 | $146,250 | $298,639 | $437,089 |
Source: Ownwell
Property Tax Bills Across Lake Suzy, Florida
In Lake Suzy, DeSoto County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Lake Suzy pay property taxes that can vary significantly. For instance, the tax bill at the 25th percentile is $1,208, while at the 75th percentile, it rises to $3,315, and at the 90th percentile, it reaches $5,000. This variation reflects differences in property values and any applicable exemptions or assessments. The median home price in Lake Suzy is $146,250, and the highest median tax bill in the area is $2,160, corresponding to zip code 34269. This figure is still below the national median property tax rate of 0.99%, indicating relatively lower property tax burdens for homeowners in this region. These property tax bills directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for homeowners to understand their tax obligations.
Average Lake Suzy Tax Bill
$2,160
Average Desoto County Tax Bill
$1,616
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Suzy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34269 | $814 | $1,208 | $2,160 | $3,315 | $5,000 |
Source: Ownwell