Melbourne Beach, Florida Property Taxes
The median property tax rate in Melbourne Beach, FL is 0.98%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With the median home value in Melbourne Beach at $456,660, the typical annual property tax bill reaches $3,570, surpassing the national median of $2,690. Property taxes in Melbourne Beach are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Melbourne Beach'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 Melbourne Beach 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
Melbourne Beach, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$4,475
$4,231
$1,148
Average Melbourne Beach, Florida Tax Savings
Ownwell’s Melbourne Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melbourne Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melbourne Beach to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Melbourne Beach. 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 Melbourne Beach, Florida
Property taxes in Melbourne Beach, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melbourne Beach is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Melbourne Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melbourne Beach 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 Melbourne Beach's effective property tax rate to other areas within Brevard County and the national median. For comparison, the zip code 32951 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Melbourne Beach provides valuable insights into the varying tax landscape across Brevard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melbourne Beach Tax Rate
0.98%
Average Brevard County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melbourne Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32951 | 0.48% | 0.63% | 0.98% | 1.20% | 1.32% |
Source: Ownwell
$1,148
Average Melbourne Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Melbourne Beach, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Melbourne Beach, FL. 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 Brevard 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 Melbourne Beach, 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. The median home price here is $456,660, with tax bills ranging from $2,055 at the 25th percentile to $8,446 at the 90th percentile. The highest and lowest median tax bills are both $3,570 in the 32951 zip code. 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 Melbourne Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Melbourne Beach, Florida
Source: Ownwell
$26,900
$241,780
$456,660
Average Melbourne Beach Assessed Value
$456,660
Average Brevard County Assessed Value
$243,020
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melbourne Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32951 | $115,590 | $282,650 | $456,660 | $605,468 | $890,480 |
Source: Ownwell
$1,148
Average Melbourne Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Melbourne Beach, Florida
In Melbourne Beach, Brevard County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate. For instance, with a median home price of $456,660, the tax bill can vary significantly depending on the assessed value and the specific tax rates applied. The 25th percentile tax bill is around $2,055, while the 75th percentile reaches up to $5,721, and the 90th percentile can be as high as $8,446. These tax bills can place a substantial financial burden on homeowners. However, Ownwell offers valuable services to help reduce these costs. By reviewing your property's assessed value and identifying potential inaccuracies, Ownwell can file appeals on your behalf to ensure you are not overpaying. This process can lead to significant savings, making homeownership more affordable and less stressful.
Average Melbourne Beach Tax Bill
$3,570
Average Brevard County Tax Bill
$2,198
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Melbourne Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32951 | $1,274 | $2,055 | $3,570 | $5,721 | $8,446 |
Source: Ownwell
$1,148
Average Melbourne Beach Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Brevard Property Appraiser | |
| Website | www.bcpao.us |
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