Babson Park, Florida Property Taxes
The median property tax rate in Babson Park, FL is 1.00%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $175,694, the typical annual property tax bill in Babson Park reaches $1,806, which is below the national median of $2,690. Property taxes in Babson Park are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Babson 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 Babson 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
Babson Park, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,757
$1,663
$1,148
Average Babson Park, Florida Tax Savings
Ownwell’s Babson Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Babson Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Babson 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 Babson 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 Polk County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Babson Park, Florida
Property taxes in Babson Park, Florida, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Babson Park is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Babson Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Babson 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 Babson Park's effective property tax rate to other areas in Polk County and the national median. For comparison, the zip code 33827 has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Babson Park provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Babson Park Tax Rate
1.00%
Average Polk County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Babson Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33827 | 0.53% | 0.66% | 1.00% | 1.44% | 1.61% |
Source: Ownwell
$1,148
Average Babson Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Babson Park, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Babson 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 Polk 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 Babson 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 in Babson Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 33827 has the highest and lowest median tax bill, both at $1,806.
Average Babson Park Assessed Value
$175,694
Average Polk County Assessed Value
$203,226
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Babson Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33827 | $76,990 | $127,453 | $175,694 | $288,012 | $477,255 |
Source: Ownwell
$1,148
Average Babson Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Babson Park, Florida
In Babson Park, located in Polk County, FL, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in this area is $175,694. The tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile pay around $977, while those in the 75th percentile see bills up to $2,800. The highest median tax bill recorded is $1,806 in the 33827 zip code, which is significantly below the national median property tax rate of 0.99%. Factors such as property improvements and market conditions can influence the assessed value, impacting the tax bill. This can place a financial strain on homeowners. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burden. By leveraging their expertise, Ownwell can identify potential savings and guide homeowners through the appeal process, ensuring they pay only their fair share in property taxes.
Average Babson Park Tax Bill
$1,806
Average Polk County Tax Bill
$1,931
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Babson Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33827 | $698 | $977 | $1,806 | $2,800 | $4,909 |
Source: Ownwell
$1,148
Average Babson 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 10 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Polk Property Appraiser | |
| Website | www.polkpa.org |
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