Zolfo Springs, Florida Property Taxes
The median property tax rate in Zolfo Springs, FL is 1.21%, which is higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Zolfo Springs, the typical annual property tax bill reaches $1,252, falling below the national median of $2,690. Property taxes in Zolfo Springs 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 Zolfo Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Zolfo Springs 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
Zolfo Springs, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,389
$1,315
Ownwell’s Zolfo Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zolfo Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zolfo Springs 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 Zolfo Springs, Florida
Property taxes in Zolfo Springs, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Zolfo Springs is 1.21%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Zolfo Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zolfo Springs 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 Zolfo Springs' effective property tax rate to other areas in Florida and the national median. For comparison, the 33890 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Zolfo Springs provides valuable insights into the varying tax landscape across Hardee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Zolfo Springs Tax Rate
1.21%
Average Hardee County Tax Rate
1.01%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Zolfo Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33890 | 0.44% | 0.64% | 1.21% | 1.76% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Zolfo Springs, Florida
In Zolfo Springs, 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 Hardee 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 Zolfo Springs, 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 Zolfo Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Zolfo Springs is $114,828, with the highest median tax bill being $1,252 in zip code 33890.
Average Zolfo Springs Assessed Value
$114,828
Average Hardee County Assessed Value
$123,998
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Zolfo Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33890 | $54,629 | $82,744 | $114,828 | $168,496 | $251,067 |
Source: Ownwell
Property Tax Bills Across Zolfo Springs, Florida
In Zolfo Springs, located in Hardee County, FL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local property appraiser and reflects the market value of the property. Homeowners in Zolfo Springs face varying tax bills, influenced by factors such as property size, location, and improvements. For instance, the median home price in the area is $114,828, which contributes to the overall tax calculation. The tax bill can range significantly, with the 25th percentile at $753 and the 75th percentile reaching $2,057. At the 90th percentile, homeowners might see bills as high as $2,911. These figures indicate that property taxes in Zolfo Springs can vary widely, impacting homeowners differently based on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, illustrating how local rates and property values can influence the overall tax burden on homeowners. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Zolfo Springs Tax Bill
$1,252
Average Hardee County Tax Bill
$1,315
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Zolfo Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33890 | $466 | $753 | $1,252 | $2,057 | $2,911 |
Source: Ownwell