University Park, Florida Property Taxes
The median property tax rate in University Park, 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 University Park at $678,217, the typical annual property tax bill reaches $7,510, significantly exceeding the national median of $2,690. Property taxes in University Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding University Park'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 University Park 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
University Park, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$7,053
$6,669
$1,148
Average University Park, Florida Tax Savings
Ownwell’s University Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in University Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in University Park 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 University Park. 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 University Park, Florida
Property taxes in University Park, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in University Park is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within University Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, University Park 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 University Park's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 34201 has the highest median property tax rate of 1.04%, while the lowest median tax rate in the same zip code is also 1.04%. Understanding how these figures compare with University Park 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 University Park Tax Rate
1.04%
Average Manatee County Tax Rate
0.92%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across University Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34201 | 0.91% | 0.98% | 1.04% | 1.32% | 1.44% |
Source: Ownwell
$1,148
Average University Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across University Park, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in University Park, 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 the Manatee County Appraisal District 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 University Park, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 34201 has the highest and lowest median tax bill, both at $7,510, reflecting a variance in property values and exemptions within the same area.
Property Tax Assessment Values Across University Park, Florida
Source: Ownwell
$147,981
$1,010,609
$1,873,236
Average University Park Assessed Value
$678,217
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 University Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34201 | $378,250 | $503,056 | $678,217 | $928,072 | $1,135,294 |
Source: Ownwell
$1,148
Average University Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across University Park, Florida
In University Park, property tax bills are calculated based on the assessed value of a home, which is determined by the Manatee County Property Appraiser. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%. In University Park, homeowners face tax bills ranging from $5,423 at the 25th percentile to $12,920 at the 90th percentile. For a median home price of $678,217, this can represent a significant annual expense. Several factors influence the assessed value, including market conditions, property improvements, and local tax levies. These variables can lead to fluctuations in annual tax bills, impacting homeowner budgets. Ownwell assists homeowners by providing expert property tax appeal and exemption services. Our team reviews your property's assessed value and identifies potential discrepancies, ensuring you are not overpaying. By leveraging our expertise, homeowners can potentially reduce their tax bills, leading to substantial savings year after year.
Average University Park Tax Bill
$7,510
Average Manatee County Tax Bill
$2,985
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across University Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34201 | $4,263 | $5,423 | $7,510 | $10,202 | $12,920 |
Source: Ownwell
$1,148
Average University Park 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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