Branford, Florida Property Taxes
The median property tax rate in Branford, FL is 1.04%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With the median home value in Branford at $84,429, the typical annual property tax bill amounts to $898, which is considerably below the national median of $2,690. Property taxes in Branford are based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Familiarizing yourself with Branford's property tax system, exploring available exemptions, and seeking opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Branford or another part of Lafayette County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Branford, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$878
$830
Ownwell’s Branford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Branford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Branford 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 Branford, Florida
Property taxes in Branford, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Branford is 1.04%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Branford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branford 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 Branford's effective property tax rate to other counties in Florida and the national median. For comparison, the 32008 zip code has the highest median property tax rate of 1.04%, while the 32008 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Branford provides valuable insights into the varying tax landscape across Lafayette, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branford Tax Rate
1.04%
Average Lafayette County Tax Rate
0.99%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32008 | 0.63% | 0.79% | 1.04% | 1.69% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Branford, Florida
In Branford, 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 Lafayette 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. The median home price in Branford is $84,429, with median tax bills ranging from $488 at the 25th percentile to $2,813 at the 90th percentile. Awareness of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Branford Assessed Value
$84,429
Average Lafayette County Assessed Value
$72,237
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32008 | $23,031 | $42,354 | $84,429 | $157,052 | $230,144 |
Source: Ownwell
Property Tax Bills Across Branford, Florida
In Branford, FL, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically based on the market value of the home, which in Branford has a median home price of $84,429. Local tax authorities then apply the tax rate to this assessed value to calculate the annual tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value. For homeowners in Branford, the property tax bill can vary significantly. The 25th percentile tax bill is $488, while those in the 75th percentile pay around $1,749. At the 90th percentile, the tax bill can reach up to $2,813. These figures highlight the range of property tax burdens that homeowners may face. Compared to the national median property tax rate of 0.99%, Branford's rates can be more favorable for some, but the exact impact depends on individual property assessments and local tax policies.
Average Branford Tax Bill
$898
Average Lafayette County Tax Bill
$733
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Branford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32008 | $217 | $488 | $898 | $1,749 | $2,813 |
Source: Ownwell