Jay, Florida Property Taxes
The median property tax rate in Jay, FL is 0.70%, which is notably lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $129,196 in Jay, the typical annual property tax bill amounts to $905, significantly less than the national median of $2,690. Property taxes in Jay are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Jay's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Jay or another part of Santa Rosa County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jay, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$904
$855
Ownwell’s Jay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jay 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 Jay, Florida
Property taxes in Jay, Florida, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Jay is 0.70%, which is below both the Florida state median and the U.S. national median of 0.99%. Local government entities within Jay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jay 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 Jay's effective property tax rate to other areas in Florida and the national median. For comparison, the 32570 zip code has the highest median property tax rate of 0.97%, while the 32565 zip code has the lowest median tax rate of 0.70%. Understanding how these areas compare with Jay 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 Jay Tax Rate
0.70%
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 Jay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | 0.37% | 0.49% | 0.70% | 1.19% | 1.36% |
| 32570 | 0.48% | 0.80% | 0.97% | 1.09% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Jay, Florida
In Jay, 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 Jay, 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. For instance, the zip code 32565 has the highest median tax bill at $906, while 32570 has the lowest at $319. Being aware of these valuation processes in Jay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jay Assessed Value
$129,196
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 Jay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | $37,769 | $73,451 | $129,626 | $199,724 | $283,560 |
| 32570 | $25,767 | $28,696 | $37,340 | $56,061 | $77,128 |
Source: Ownwell
Property Tax Bills Across Jay, Florida
In Jay, Santa Rosa County, FL, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the home, which is influenced by factors like location, size, and condition. In Jay, the median home price is $129,196. Homeowners in the area can expect varying tax bills, with the 25th percentile at $492, the 75th percentile at $1518, and the 90th percentile reaching up to $2317. The highest median tax bill in the county is $906 in the 32565 zip code, while the lowest is $319 in the 32570 zip code. These tax bills directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax obligations in Jay offer a perspective on how local rates and property values can influence overall tax burdens.
Average Jay Tax Bill
$905
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 Jay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | $227 | $493 | $906 | $1,520 | $2,317 |
| 32570 | $263 | $283 | $319 | $366 | $406 |
Source: Ownwell