Westville, Florida Property Taxes
The median property tax rate in Westville, FL is 0.72%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $46,296 in Westville, the typical annual property tax bill is $392, significantly below the national median of $2,690. Property taxes in Westville are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Westville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Westville or another part of Holmes County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westville, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$333
$315
Ownwell’s Westville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Westville. By simply entering your property's estimated assessed value, the calculator leverages the median tax rate in Westville to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Holmes County for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Westville, Florida
Property taxes in Westville, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westville is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Westville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westville 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 Westville's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 32464 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these figures compare with Westville provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westville Tax Rate
0.72%
Average Holmes County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32464 | 0.19% | 0.44% | 0.72% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Westville, Florida
In Westville, 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 Holmes 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 Westville, 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 Westville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $392 in zip code 32464, while the lowest is also $392 in the same zip code.
Average Westville Assessed Value
$46,296
Average Holmes County Assessed Value
$55,786
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32464 | $18,576 | $28,790 | $46,296 | $73,068 | $111,484 |
Source: Ownwell
Property Tax Bills Across Westville, Florida
In Westville, located in Holmes County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $46,296, homeowners can expect varying tax bills. The 25th percentile tax bill is $174, while the 75th percentile reaches $638, and the 90th percentile climbs to $1,057. These property tax rates and bills are influenced by several factors, including the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners, understanding these elements is crucial as they directly impact annual financial obligations. Compared to the national median property tax rate of 0.99%, Westville's property tax rates can provide a relatively affordable option for homeowners, helping them manage their expenses more effectively.
Average Westville Tax Bill
$392
Average Holmes County Tax Bill
$469
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Westville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32464 | $72 | $174 | $392 | $638 | $1,057 |
Source: Ownwell