Port Saint Joe, Florida Property Taxes
The median property tax rate in Port Saint Joe, FL is 0.98%, slightly below the national median of 0.99% and significantly lower than Florida's state median of 1.14%. With the median home value in Port Saint Joe at $577,946, the typical annual property tax bill reaches $5,683, well above the national median of $2,690. Property taxes in Port Saint Joe are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Port Saint Joe'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 Port Saint Joe 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
Port Saint Joe, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$5,664
$5,360
Ownwell’s Port Saint Joe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Saint Joe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Saint Joe 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 Port Saint Joe, Florida
Property taxes in Port Saint Joe, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Saint Joe is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Port Saint Joe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Saint Joe 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 Port Saint Joe's effective property tax rate to other areas in Franklin County and the national median. For comparison, the 32456 zip code has the highest median property tax rate of 0.98%, while the same 32456 zip code also has the lowest median tax rate of 0.98%. Understanding how these areas compare with Port Saint Joe provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Port Saint Joe Tax Rate
0.98%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Saint Joe, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32456 | 0.92% | 0.94% | 0.98% | 1.13% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Port Saint Joe, Florida
In Port Saint Joe, 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 Franklin 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 Port Saint Joe, 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 Port Saint Joe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both $5,683, are found in the 32456 zip code.
Average Port Saint Joe Assessed Value
$577,946
Average Franklin County Assessed Value
$239,550
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Port Saint Joe, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32456 | $188,576 | $334,590 | $577,946 | $691,311 | $759,330 |
Source: Ownwell
Property Tax Bills Across Port Saint Joe, Florida
In Port Saint Joe, located in Franklin County, FL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county property appraiser, who evaluates the property's market value and applies any exemptions for which the homeowner may qualify. The local tax rate, or millage rate, is then applied to this assessed value to calculate the tax bill. For homeowners in Port Saint Joe, the median home price stands at $577,946. Property tax bills can vary significantly, with the 25th percentile at $3,421 and the 75th percentile at $6,488. The highest median tax bill recorded in the area is $5,683, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can impact homeowners' financial planning, making it essential for them to understand how these factors come into play. By knowing how their tax bill is determined, homeowners can better anticipate their annual expenses and explore potential exemptions to reduce their tax burden.
Average Port Saint Joe Tax Bill
$5,683
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Saint Joe, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32456 | $2,063 | $3,421 | $5,683 | $6,488 | $6,972 |
Source: Ownwell