Baker, Florida Property Taxes
The median property tax rate in Baker, FL is 0.60%, significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Baker, the typical annual property tax bill reaches $877, well below the national median of $2,690. Property taxes in Baker 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 Baker'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 Baker 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
Baker, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$879
$831
Ownwell’s Baker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baker 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 Baker, Florida
Property taxes in Baker, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baker is 0.60%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Baker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baker 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 Baker's effective property tax rate to other counties in Florida and the national median. For comparison, the 32531 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Baker provides valuable insights into the varying tax landscape across Okaloosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baker Tax Rate
0.60%
Average Okaloosa County Tax Rate
0.93%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baker, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32531 | 0.38% | 0.48% | 0.60% | 1.00% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Baker, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Baker, 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 Okaloosa 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 Baker, 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. The median home price in Baker is $146,514, with tax bills ranging from the 25th percentile at $454 to the 90th percentile at $2,495. Notably, the zip code 32531 has both the highest and lowest median tax bill at $877. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Baker Assessed Value
$146,514
Average Okaloosa County Assessed Value
$253,315
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baker, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32531 | $43,181 | $76,550 | $146,514 | $263,554 | $359,500 |
Source: Ownwell
Property Tax Bills Across Baker, Florida
In Baker, located in Okaloosa County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county property appraiser. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, market conditions, and exemptions can influence the assessed value. For homeowners in Baker, the median home price is $146,514. Property tax bills can vary significantly, with the 25th percentile at $454 and the 75th percentile reaching $1,574. The 90th percentile of tax bills can go up to $2,495. Homeowners in the zip code 32531 experience a median tax bill of $877, which is consistent across the highest and lowest thresholds in the area. Compared to the national median property tax rate of 0.99%, Baker's tax rates provide a range of financial impacts on homeowners, depending on their property's assessed value and applicable exemptions. This variability underscores the importance of understanding local tax regulations and potential savings opportunities.
Average Baker Tax Bill
$877
Average Okaloosa County Tax Bill
$2,112
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Baker, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32531 | $238 | $454 | $877 | $1,574 | $2,495 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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