Saint George Island, Florida Property Taxes
The median property tax rate in Saint George Island, FL is 0.93%, slightly below the national median of 0.99% and considerably lower than the Florida state median of 1.14%. With the median home value in Saint George Island at $928,424, the typical annual property tax bill reaches $8,029, which far exceeds the national median of $2,690. Property taxes in Saint George Island 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 Saint George Island'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 Saint George Island or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint George Island, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$8,634
$8,171
Ownwell’s Saint George Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint George Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint George Island 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 Saint George Island, Florida
Property taxes in Saint George Island, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint George Island is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Saint George Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint George Island 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 Saint George Island's effective property tax rate to other counties in Florida and the national median. For comparison, the 32328 zip code has the highest median property tax rate of 0.93%, while the same 32328 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Saint George Island 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 Saint George Island Tax Rate
0.93%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint George Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | 0.78% | 0.82% | 0.93% | 0.98% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Saint George Island, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saint George Island, Florida. 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 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. 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. In Saint George Island, the median home price is $928,424, with tax bills ranging from $5,938 at the 25th percentile to $9,472 at the 90th percentile. The zip code 32328 has the highest and lowest median tax bill of $8,029. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint George Island, Florida
Source: Ownwell
$61,845
$495,135
$928,424
Average Saint George Island Assessed Value
$928,424
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 Saint George Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $684,825 | $837,837 | $928,424 | $928,449 | $947,556 |
Source: Ownwell
Property Tax Bills Across Saint George Island, Florida
In Saint George Island, located in Franklin County, FL, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is an estimation of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in this area experience a range of property tax bills, with the 25th percentile paying around $5,938 and the 75th percentile paying approximately $9,144 annually. The 90th percentile sees tax bills as high as $9,472. Compared to the national median property tax rate of 0.99%, the property taxes in Saint George Island can be significant, especially given the median home price of $928,424. This can place a considerable financial burden on homeowners, impacting their overall cost of living. The highest and lowest median tax bills in the area are both $8,029, suggesting a relatively consistent tax environment within the zip code 32328. Understanding these factors is crucial for homeowners when budgeting for property-related expenses.
Average Saint George Island Tax Bill
$8,029
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint George Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $5,882 | $5,938 | $8,029 | $9,144 | $9,472 |
Source: Ownwell