Coleman, Florida Property Taxes
The median property tax rate in Coleman, 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 $70,560 in Coleman, the typical annual property tax bill is $542, significantly less than the national median of $2,690. Property taxes in Coleman are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Coleman'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 Coleman or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coleman, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$621
$588
Ownwell’s Coleman Property Tax Bill Calculator enables homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Coleman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coleman 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 Coleman, Florida
Property taxes in Coleman, Florida, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Coleman stands at 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Coleman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coleman 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 Coleman's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 33521 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Coleman provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coleman Tax Rate
0.88%
Average Sumter County Tax Rate
1.08%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coleman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33521 | 0.40% | 0.53% | 0.88% | 1.52% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Coleman, Florida
In Coleman, 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 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 Coleman, 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 Coleman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 33521 in Sumter County has both the highest and lowest median tax bill of $542, highlighting the importance of understanding your specific property's assessment.
Average Coleman Assessed Value
$70,560
Average Sumter County Assessed Value
$280,650
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coleman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33521 | $20,620 | $37,505 | $70,560 | $103,005 | $160,800 |
Source: Ownwell
Property Tax Bills Across Coleman, Florida
In Coleman, located in Sumter County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The local property tax rate stands at 0.77%, which is below the national median of 0.99%. To determine the tax bill, the county assesses the market value of the property, and then applies the tax rate to this assessed value. For example, with a median home price of $70,560, homeowners can expect a median tax bill around $542. Several factors influence the final tax bill, including property improvements, market conditions, and local government budgets. For instance, the tax bill at the 25th percentile is approximately $353, while at the 75th percentile, it rises to about $968. At the 90th percentile, it can reach up to $1,442. These variations reflect differences in property values and any applicable exemptions. For homeowners, understanding these factors is crucial as it directly impacts their annual financial planning and long-term investment in their property.
Average Coleman Tax Bill
$542
Average Sumter County Tax Bill
$3,060
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Coleman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33521 | $166 | $353 | $542 | $968 | $1,442 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Sumter Property Appraiser | |
| Website | qpublic.schneidercorp.com |