Reddick, Florida Property Taxes
The median property tax rate in Reddick, FL is 0.95%, slightly below the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $127,717 in Reddick, the typical annual property tax bill amounts to $1,219, which is lower than the national median of $2,690. Property taxes in Reddick are calculated based on the tax assessed value, often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Reddick’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 Reddick or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reddick, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,213
$1,147
Ownwell’s Reddick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reddick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reddick 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 Reddick, Florida
Property taxes in Reddick, FL, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reddick is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Reddick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reddick 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 Reddick's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32686 has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Reddick provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reddick Tax Rate
0.95%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reddick, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32686 | 0.51% | 0.68% | 0.95% | 1.67% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Reddick, Florida
In Reddick, 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 Marion 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 Reddick, 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 Reddick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 32686 has the highest and lowest median tax bill at $1,219, reflecting the median home price of $127,717.
Average Reddick Assessed Value
$127,717
Average Marion County Assessed Value
$176,469
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reddick, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32686 | $38,504 | $71,042 | $127,717 | $245,294 | $446,196 |
Source: Ownwell
Property Tax Bills Across Reddick, Florida
In Reddick, located in Marion County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county property appraiser. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's size, age, location, and any improvements made can influence the assessed value. For homeowners in Reddick, the median home price is $127,717. Property tax bills can vary significantly, with the 25th percentile tax bill at $730 and the 75th percentile reaching $2,234. At the high end, the 90th percentile tax bill is $3,929. Compared to the national median property tax rate of 0.99%, Reddick's property taxes can impact homeowners differently depending on their property's assessed value. This variation underscores the importance of understanding how local assessments and tax rates influence overall property tax obligations. Homeowners should be aware of these factors to better manage their financial planning and property-related expenses.
Average Reddick Tax Bill
$1,219
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Reddick, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32686 | $453 | $730 | $1,219 | $2,234 | $3,929 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Marion Property Appraiser | |
| Website | www.pa.marion.fl.us |