Minneola, Florida Property Taxes
The median property tax rate in Minneola, FL is 0.92%, which is lower than both the national median of 0.99% and Florida’s state median of 1.14%. With the median home value in Minneola at $323,923, the typical annual property tax bill amounts to $2,854, surpassing the national median of $2,690. Property taxes in Minneola are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Minneola'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 Minneola or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Minneola, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,980
$2,818
$1,148
Average Minneola, Florida Tax Savings
Ownwell’s MINNEOLA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MINNEOLA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MINNEOLA 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 MINNEOLA. 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 Minneola, Florida
Property taxes in Minneola, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minneola is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Minneola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minneola 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 Minneola's effective property tax rate to other counties in Florida and the national median. For comparison, the 34715 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Minneola 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 Minneola Tax Rate
0.92%
Average Lake County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minneola, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34715 | 0.37% | 0.53% | 0.92% | 1.30% | 1.52% |
Source: Ownwell
$1,148
Average Minneola Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Minneola, Florida
In MINNEOLA, 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 MINNEOLA, 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 MINNEOLA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2854.00 in zip code 34715, while the lowest is also $2854.00 in the same zip code, reflecting a range of assessments and exemptions available.
Average Minneola Assessed Value
$323,923
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 Minneola, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34715 | $196,740 | $272,766 | $323,923 | $398,706 | $475,379 |
Source: Ownwell
$1,148
Average Minneola Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Minneola, Florida
In Minneola, located in Lake County, FL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Minneola is $323,923. Property tax rates in this area can vary, but the national median property tax rate is 0.99%. Factors such as property size, location, and improvements can influence the assessed value, ultimately impacting the tax bill. For example, homeowners at the 25th percentile pay around $1,518, while those at the 75th percentile face bills of approximately $4,227, and at the 90th percentile, it can reach up to $5,038. Ownwell can help homeowners in Minneola reduce their property tax bills by offering professional property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell ensures that homeowners are not overpaying. This expert assistance can lead to significant savings, providing financial relief and peace of mind.
Average Minneola Tax Bill
$2,854
Average Lake County Tax Bill
$2,362
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Minneola, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34715 | $1,005 | $1,518 | $2,854 | $4,227 | $5,038 |
Source: Ownwell
$1,148
Average Minneola 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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