Gulf Breeze, Florida Property Taxes
The median property tax rate in Gulf Breeze, FL is 0.88%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $295,628, the typical annual property tax bill in Gulf Breeze is about $2,591, slightly below the national median of $2,690. Property taxes in Gulf Breeze are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gulf Breeze'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 Gulf Breeze 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
Gulf Breeze, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,602
$2,460
Ownwell’s Gulf Breeze Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gulf Breeze with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gulf Breeze 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 Gulf Breeze, Florida
Property taxes in Gulf Breeze, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gulf Breeze is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Gulf Breeze set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gulf Breeze 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 Gulf Breeze's effective property tax rate to other areas in Santa Rosa County and the national median. For comparison, the 32563 zip code has the highest median property tax rate of 0.89%, while the 32561 zip code has the lowest median tax rate of 0.85%. Understanding how these cities compare with Gulf Breeze provides valuable insights into the varying tax landscape across Santa Rosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gulf Breeze Tax Rate
0.88%
Average Santa Rosa County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gulf Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32561 | 0.35% | 0.53% | 0.85% | 1.19% | 1.30% |
| 32563 | 0.47% | 0.63% | 0.89% | 1.26% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Gulf Breeze, Florida
In Gulf Breeze, 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 Santa Rosa 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 Gulf Breeze, 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. The median home price in Gulf Breeze is $295,628, with the 25th percentile tax bill at $1,499 and the 75th percentile tax bill at $4,033. The highest median tax bill is $3,394 in zip code 32561, while the lowest is $2,475 in zip code 32563. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gulf Breeze Assessed Value
$295,628
Average Santa Rosa County Assessed Value
$224,182
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gulf Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32561 | $210,000 | $323,214 | $382,289 | $527,370 | $991,049 |
| 32563 | $127,162 | $204,330 | $272,360 | $372,502 | $529,571 |
Source: Ownwell
Property Tax Bills Across Gulf Breeze, Florida
In Gulf Breeze, located in Santa Rosa County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The local tax rate, known as the millage rate, is then applied to the assessed value to determine the tax bill. For instance, if a home has an assessed value of $295,628, the tax bill will be calculated using the specific millage rate set by local authorities. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. In Gulf Breeze, homeowners can expect tax bills to vary significantly. For example, the 25th percentile tax bill is around $1,499, while the 75th percentile reaches $4,033. At the 90th percentile, it climbs to $5,939. The highest median tax bill in the area is $3,394 in the 32561 zip code, compared to the lowest median tax bill of $2,475 in the 32563 zip code. These variations highlight how property taxes can impact homeowners differently within the same region.
Average Gulf Breeze Tax Bill
$2,591
Average Santa Rosa County Tax Bill
$1,730
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Gulf Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32561 | $1,093 | $1,973 | $3,394 | $5,321 | $9,120 |
| 32563 | $739 | $1,418 | $2,475 | $3,747 | $5,413 |
Source: Ownwell