Lady Lake, Florida Property Taxes
The median property tax rate in Lady Lake, FL is 0.96%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With the median home value in Lady Lake at $213,354, the typical annual property tax bill reaches $2,173, which is below the national median of $2,690. Property taxes in Lady Lake 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 Lady Lake'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 Lady Lake 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
Lady Lake, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,048
$1,937
$1,148
Average Lady Lake, Florida Tax Savings
Ownwell’s Lady Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lady Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lady Lake 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 Lady Lake. 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 Lady Lake, Florida
Property taxes in Lady Lake, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lady Lake is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Lady Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lady Lake 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 Lady Lake's effective property tax rate to other counties in Florida and the national median. For comparison, the 32159 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Lady Lake provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lady Lake Tax Rate
0.96%
Average Lake County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lady Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32159 | 0.54% | 0.71% | 0.96% | 1.42% | 1.56% |
Source: Ownwell
$1,148
Average Lady Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lady Lake, Florida
In Lady Lake, 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 Lake 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 Lady Lake, 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 median home price in Lady Lake is $213,354, and the median tax bill in the zip code 32159 is $2,173. 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 Lady Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lady Lake Assessed Value
$213,354
Average Lake County Assessed Value
$277,646
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lady Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32159 | $129,922 | $163,352 | $213,354 | $286,769 | $389,804 |
Source: Ownwell
$1,148
Average Lady Lake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lady Lake, Florida
Property tax bills in Lady Lake, located in Lake County, FL, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For instance, with a median home price of $213,354, the property tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,316, whereas those in the 75th percentile might see bills as high as $3,119. The highest median tax bill in the area is $2,173, which is relatively close to the national median property tax rate of 0.99%. These tax bills can place a substantial financial burden on homeowners. Ownwell offers a solution by providing expert property tax appeal and exemption services. By leveraging their knowledge and experience, Ownwell helps homeowners ensure their properties are accurately assessed, potentially reducing their tax liabilities and saving them money.
Average Lady Lake Tax Bill
$2,173
Average Lake County Tax Bill
$2,362
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lady Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32159 | $836 | $1,316 | $2,173 | $3,119 | $4,172 |
Source: Ownwell
$1,148
Average Lady Lake 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 16 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Lake Property Appraiser | |
| Website | www.lakecopropappr.com |
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