Oxford, Florida Property Taxes
The median property tax rate in Oxford, FL is 1.04%, slightly higher than the national median of 0.99% but lower than Florida's state median of 1.14%. With a median home value of $209,400 in Oxford, the typical annual property tax bill amounts to $2,097, which is below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Oxford'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 Oxford 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
Oxford, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,178
$2,061
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Oxford, Florida
Property taxes in Oxford, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 1.04%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Florida and the national median. For comparison, the 34484 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Oxford 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 Oxford Tax Rate
1.04%
Average Sumter County Tax Rate
1.08%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | 0.52% | 0.81% | 1.04% | 1.30% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oxford, 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 Sumter 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 Oxford, 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,097, with the zip code 34484 reflecting this value.
Average Oxford Assessed Value
$209,400
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 Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | $83,086 | $141,145 | $209,400 | $261,645 | $330,780 |
Source: Ownwell
Property Tax Bills Across Oxford, Florida
In Oxford, located in Sumter 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 then multiplied by the local tax rate to arrive at the annual tax bill. The median home price in Oxford is $209,400, and homeowners experience a range of tax bills. For instance, the tax bill for the 25th percentile is $1,208, while for the 75th percentile, it rises to $2,901. At the 90th percentile, homeowners can expect to pay around $3,565. Factors influencing the tax bill include the assessed value of the property, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, Oxford's rates can vary significantly, impacting homeowners differently. Understanding these factors is crucial for homeowners in managing their annual expenses and planning their budgets effectively. The highest and lowest median tax bills in Oxford are both $2,097, indicating some consistency in the area.
Average Oxford Tax Bill
$2,097
Average Sumter County Tax Bill
$3,060
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | $504 | $1,208 | $2,097 | $2,901 | $3,565 |
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 |