Defuniak Springs, Florida Property Taxes
The median property tax rate in Defuniak Springs, FL is 0.69%, which is significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $75,990 in Defuniak Springs, the typical annual property tax bill is $435, much less than the national median of $2,690. Property taxes in Defuniak Springs are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding the property tax system in Defuniak Springs, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Defuniak Springs or another part of Walton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Defuniak Springs, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$524
$496
Ownwell’s DEFUNIAK SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DEFUNIAK SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DEFUNIAK SPRINGS 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 Defuniak Springs, Florida
Property taxes in Defuniak Springs, Florida, are essential in funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Defuniak Springs is 0.69%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Defuniak Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Defuniak Springs 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 Defuniak Springs' effective property tax rate to other areas in Walton County and the national median. For comparison, the zip code 32435 has the highest median property tax rate of 0.71%, while zip code 32433 has the lowest median tax rate of 0.68%. Understanding how these areas compare with Defuniak Springs provides valuable insights into the varying tax landscape across Walton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Defuniak Springs Tax Rate
0.69%
Average Walton County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | 0.29% | 0.40% | 0.68% | 1.02% | 1.22% |
| 32435 | 0.28% | 0.40% | 0.71% | 1.12% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Defuniak Springs, Florida
In DEFUNIAK SPRINGS, 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 Walton 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 DEFUNIAK SPRINGS, 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 DEFUNIAK SPRINGS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $527 in the 32435 zip code, while the lowest is $411 in the 32433 zip code.
Property Tax Assessment Values Across Defuniak Springs, Florida
Source: Ownwell
$51,685
$710,978
$1,370,271
Average Defuniak Springs Assessed Value
$75,990
Average Walton County Assessed Value
$398,232
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | $18,319 | $32,564 | $71,668 | $134,226 | $207,409 |
| 32435 | $20,174 | $44,263 | $87,570 | $155,490 | $238,493 |
Source: Ownwell
Property Tax Bills Across Defuniak Springs, Florida
In Defuniak Springs, Walton County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Defuniak Springs can expect a wide range in their property tax bills. For instance, the tax bill at the 25th percentile is around $225, while at the 75th percentile, it climbs to approximately $868. At the 90th percentile, homeowners might pay up to $1431. The median home price in the area is $75,990, which influences the overall tax burden. Comparing this to the national median property tax rate of 0.99%, Defuniak Springs presents a relatively affordable option for homeowners. Factors such as property exemptions, changes in market value, and local budget requirements also play crucial roles in determining the final tax bill. Homeowners should stay informed about these variables to better anticipate their annual property tax obligations.
Average Defuniak Springs Tax Bill
$435
Average Walton County Tax Bill
$2,924
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | $99 | $216 | $411 | $813 | $1,326 |
| 32435 | $109 | $266 | $527 | $989 | $1,730 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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