Myakka City, Florida Property Taxes
The median property tax rate in Myakka City, FL is 0.55%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Myakka City at $478,933, the typical annual property tax bill reaches $2,602, slightly below the national median of $2,690. Property taxes in Myakka City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Myakka City'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 Myakka City 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
Myakka City, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$2,634
$2,491
$1,148
Average Myakka City, Florida Tax Savings
Ownwell’s Myakka City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myakka City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myakka City 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 Myakka City. 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 Myakka City, Florida
Property taxes in Myakka City, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Myakka City is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Myakka City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myakka City 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 Myakka City's effective property tax rate to other counties in Florida and the national median. For comparison, the 34251 zip code has both the highest and lowest median property tax rate of 0.55%. Understanding how these areas compare with Myakka City provides valuable insights into the varying tax landscape across Manatee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Myakka City Tax Rate
0.55%
Average Manatee County Tax Rate
0.92%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myakka City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34251 | 0.30% | 0.42% | 0.55% | 0.76% | 0.93% |
Source: Ownwell
$1,148
Average Myakka City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Myakka City, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Myakka City, Florida. 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 Manatee County 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 Myakka City, 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 Myakka City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Myakka City is $478,933, with tax bills ranging from $1,535 at the 25th percentile to $5,649 at the 90th percentile, providing a clear picture of the potential tax obligations residents might face.
Property Tax Assessment Values Across Myakka City, Florida
Source: Ownwell
$147,981
$1,010,609
$1,873,236
Average Myakka City Assessed Value
$478,933
Average Manatee County Assessed Value
$360,505
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Myakka City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34251 | $215,166 | $332,422 | $478,933 | $645,508 | $825,095 |
Source: Ownwell
$1,148
Average Myakka City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Myakka City, Florida
In Myakka City, property tax bills are calculated based on the assessed value of your home, which is derived from the market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $478,933 in Myakka City, homeowners can expect varying tax bills. The 25th percentile tax bill is $1,535, while the 75th percentile reaches $4,001, and the 90th percentile can be as high as $5,649. These figures indicate that property taxes in Myakka City can be a significant expense for homeowners, especially when compared to the national median property tax rate of 0.99%. Ownwell can help homeowners in Myakka City save on their property tax bills by providing expert property tax appeal and exemption services. Our team analyzes your property's assessed value, identifies discrepancies, and files appeals to ensure you are not overpaying. By leveraging our expertise, you can potentially reduce your tax burden and save money annually.
Average Myakka City Tax Bill
$2,602
Average Manatee County Tax Bill
$2,985
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Myakka City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34251 | $887 | $1,535 | $2,602 | $4,001 | $5,649 |
Source: Ownwell
$1,148
Average Myakka City 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 | |
|---|---|
| Manatee Property Appraiser | |
| Website | www.manateepao.com |
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