Valrico, Florida Property Taxes
The median property tax rate in Valrico, FL is 1.10%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $304,824 in Valrico, the typical annual property tax bill amounts to $3,614, surpassing the national median of $2,690. Property taxes in Valrico are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Valrico'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 Valrico or another part of Hillsborough County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valrico, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,353
$3,170
$1,148
Average Valrico, Florida Tax Savings
Ownwell’s Valrico Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valrico with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valrico 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 Valrico. 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 Valrico, Florida
Property taxes in Valrico, Florida, are essential for funding critical local services, including public education, road maintenance, and emergency services. The median tax rate in Valrico is 1.10%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Valrico set these rates annually, and they can vary considerably across different neighborhoods. Each year, Valrico 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 Valrico's effective property tax rate to other areas in Hillsborough County and the national median. For comparison, the 33594 zip code has the highest median property tax rate of 1.15%, while the 33596 zip code has the lowest median tax rate of 1.04%. Understanding how these areas compare with Valrico provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valrico Tax Rate
1.10%
Average Hillsborough County Tax Rate
1.27%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valrico, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33594 | 0.65% | 0.79% | 1.15% | 1.77% | 1.95% |
| 33596 | 0.74% | 0.85% | 1.04% | 1.67% | 1.88% |
Source: Ownwell
$1,148
Average Valrico Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Valrico, Florida
In Valrico, 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 Hillsborough 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 Valrico, 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. For instance, the highest median tax bill in Valrico is $3,888 in the 33596 zip code, while the lowest is $3,359 in the 33594 zip code. 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 Valrico helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Valrico Assessed Value
$304,824
Average Hillsborough County Assessed Value
$280,428
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valrico, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33594 | $179,090 | $213,846 | $266,687 | $348,318 | $440,620 |
| 33596 | $223,579 | $277,832 | $342,602 | $414,368 | $519,269 |
Source: Ownwell
$1,148
Average Valrico Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Valrico, Florida
In Valrico, Hillsborough County, FL, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The median home price in Valrico is $304,824, and the property tax rate is applied to this assessed value to determine your tax bill. Factors such as the property's location, improvements, and market trends influence the assessed value. Homeowners in Valrico can expect a wide range of tax bills, with the 25th percentile at $2,403 and the 75th percentile at $5,000. The highest median tax bill in the area is $3,888 in zip code 33596, while the lowest is $3,359 in zip code 33594. Ownwell can help homeowners in Valrico save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property’s assessment for inaccuracies and files appeals to ensure you are not overpaying. By leveraging our local expertise and data-driven approach, we help you achieve the lowest possible tax bill, ensuring significant savings year after year.
Average Valrico Tax Bill
$3,614
Average Hillsborough County Tax Bill
$3,523
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Valrico, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33594 | $1,380 | $2,061 | $3,359 | $4,629 | $6,036 |
| 33596 | $1,927 | $2,731 | $3,888 | $5,404 | $7,004 |
Source: Ownwell
$1,148
Average Valrico Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Hillsborough Property Appraiser | |
| Phone | (813) 272-6100 |
| Website | gis.hcpafl.org |
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