Palm Beach Shores, Florida Property Taxes
The median property tax rate in Palm Beach Shores, FL is 1.78%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Palm Beach Shores, the typical annual property tax bill reaches $6,450, exceeding the national median of $2,690. Property taxes in Palm Beach Shores 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 Palm Beach Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Palm Beach Shores 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
Palm Beach Shores, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$9,100
$8,604
$1,148
Average Palm Beach Shores, Florida Tax Savings
Ownwell’s Palm Beach Shores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palm Beach Shores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palm Beach Shores 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 Palm Beach Shores. 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 Palm Beach Shores, Florida
Property taxes in Palm Beach Shores, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Palm Beach Shores is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Palm Beach Shores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palm Beach Shores 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 Palm Beach Shores' effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 33404 has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Palm Beach Shores provides valuable insights into the varying tax landscape across Palm Beach County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palm Beach Shores Tax Rate
1.78%
Average Palm Beach County Tax Rate
1.34%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palm Beach Shores, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33404 | 0.74% | 1.21% | 1.78% | 1.94% | 2.02% |
Source: Ownwell
$1,148
Average Palm Beach Shores Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palm Beach Shores, Florida
In Palm Beach Shores, 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 Palm Beach 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. 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 Palm Beach Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 33404 has the highest and lowest median tax bill at $6,450.
Property Tax Assessment Values Across Palm Beach Shores, Florida
Source: Ownwell
$32,527
$1,351,467
$2,670,407
Average Palm Beach Shores Assessed Value
$511,250
Average Palm Beach County Assessed Value
$316,112
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palm Beach Shores, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33404 | $220,000 | $269,730 | $511,250 | $741,283 | $919,096 |
Source: Ownwell
$1,148
Average Palm Beach Shores Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palm Beach Shores, Florida
In Palm Beach Shores, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Palm Beach County Property Appraiser and reflects the market value of the property. Homeowners in Palm Beach Shores face varying tax bills, with the 25th percentile at $4,244 and the 75th percentile reaching $11,531. The highest median tax bill in the area is $6,450, notably higher than the national median property tax rate of 0.99%. Several factors influence property tax bills, including property improvements, neighborhood growth, and market trends. These taxes impact homeowners significantly, as higher assessed values can lead to substantial tax obligations. Ownwell helps homeowners in Palm Beach Shores save on their property tax bills by offering expert property tax appeal and exemption services. By analyzing property assessments and market data, Ownwell identifies opportunities to reduce assessed values, ensuring homeowners pay only their fair share in taxes.
Average Palm Beach Shores Tax Bill
$6,450
Average Palm Beach County Tax Bill
$3,892
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Palm Beach Shores, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33404 | $3,127 | $4,244 | $6,450 | $11,531 | $16,444 |
Source: Ownwell
$1,148
Average Palm Beach Shores 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 | |
|---|---|
| Palm Beach Property Appraiser | |
| Phone | (561) 355-3230 |
| Website | www.pbcgov.org |
| pa-info@pbcgov.org | |
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