Spring Hill, Florida Property Taxes
The median property tax rate in Spring Hill, FL is 0.82%, lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Spring Hill at $247,123, the typical annual property tax bill is $2,111, which is below the national median of $2,690. Property taxes in Spring Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Spring Hill'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 Spring Hill 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
Spring Hill, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$2,026
$1,916
$1,148
Average Spring Hill, Florida Tax Savings
Ownwell’s SPRING HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING HILL to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in SPRING HILL. 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 Spring Hill, Florida
Property taxes in Spring Hill, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Hill is 0.82%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Spring Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Hill 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 Spring Hill's effective property tax rate to other counties in Florida and the national median. For comparison, the 34606 zip code has the highest median property tax rate of 0.85%, while the 34607 zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Spring Hill provides valuable insights into the varying tax landscape across Hernando County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spring Hill Tax Rate
0.82%
Average Hernando County Tax Rate
0.81%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34606 | 0.48% | 0.57% | 0.85% | 1.43% | 1.59% |
| 34607 | 0.43% | 0.55% | 0.75% | 1.35% | 1.50% |
| 34608 | 0.46% | 0.56% | 0.77% | 1.41% | 1.54% |
| 34609 | 0.48% | 0.60% | 0.83% | 1.40% | 1.57% |
Source: Ownwell
$1,148
Average Spring Hill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Spring Hill, Florida
In Spring Hill, 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 Hernando 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 Spring Hill, 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 Spring Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Spring Hill's median home price stands at $247,123. The median tax bill varies significantly, with the highest in zip code 34609 at $2,418 and the lowest in zip code 34606 at $1,860. By being informed about these details, homeowners can take proactive steps to manage their property taxes efficiently.
Average Spring Hill Assessed Value
$247,123
Average Hernando County Assessed Value
$239,781
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spring Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34606 | $121,588 | $168,932 | $220,657 | $272,862 | $327,494 |
| 34607 | $132,648 | $231,824 | $300,804 | $383,338 | $538,965 |
| 34608 | $157,325 | $193,444 | $239,797 | $296,655 | $363,599 |
| 34609 | $173,629 | $216,570 | $271,636 | $339,803 | $418,359 |
Source: Ownwell
$1,148
Average Spring Hill Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Spring Hill, Florida
Property tax bills in Spring Hill, Hernando County, FL, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. Factors such as property size, location, and improvements can influence this value. In Spring Hill, the median home price stands at $247,123, leading to varying tax bills across different percentiles. For instance, the 25th percentile tax bill is $1,322, while the 75th percentile reaches $3,181, and the 90th percentile peaks at $4,262. The highest median tax bill in the area is $2,418 in zip code 34609, whereas the lowest is $1,860 in zip code 34606. Ownwell can assist homeowners in Spring Hill by providing expert property tax appeal and exemption services. By analyzing your property’s assessed value and comparing it with similar properties, Ownwell can identify discrepancies and file appeals to potentially lower your tax bill, ensuring you pay only your fair share.
Average Spring Hill Tax Bill
$2,111
Average Hernando County Tax Bill
$1,941
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34606 | $917 | $1,192 | $1,860 | $2,825 | $3,686 |
| 34607 | $862 | $1,465 | $2,305 | $3,734 | $5,694 |
| 34608 | $967 | $1,245 | $2,002 | $3,007 | $4,029 |
| 34609 | $1,024 | $1,507 | $2,418 | $3,577 | $4,778 |
Source: Ownwell
$1,148
Average Spring Hill Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Appeal Deadline | September 13 |
Links | |
|---|---|
| Hernando Property Appraiser | |
| Website | propsearch.hernandopa-fl.us |
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