Cross City, Florida Property Taxes
The median property tax rate in Cross City, FL is 1.30%, noticeably higher than both the national median of 0.99% and Florida's state median of 1.14%. With the median home value in Cross City, the typical annual property tax bill amounts to $702, which is significantly lower than the national median of $2,690. Property taxes in Cross City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Cross City'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 Cross City 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
Cross City, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$656
$621
Ownwell’s CROSS CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CROSS CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CROSS CITY 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 Cross City, Florida
Property taxes in Cross City, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cross City is 1.30%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Cross City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cross City 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 Cross City's effective property tax rate to other counties in Florida and the national median. For comparison, the 32628 zip code has the median property tax rate of 1.30%. Understanding how these cities compare with Cross City provides valuable insights into the varying tax landscape across Dixie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cross City Tax Rate
1.30%
Average Dixie County Tax Rate
1.35%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cross City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32628 | 0.67% | 0.98% | 1.30% | 2.40% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Cross City, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cross City, 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 Dixie 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 Cross City, 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 example, the median home price in Cross City is $50,450, with tax bills ranging from $333 at the 25th percentile to $2,046 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cross City Assessed Value
$50,450
Average Dixie County Assessed Value
$64,100
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cross City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32628 | $18,400 | $31,300 | $50,450 | $83,825 | $127,110 |
Source: Ownwell
Property Tax Bills Across Cross City, Florida
In Cross City, Dixie 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 property tax rate to determine the annual tax bill. For example, with a median home price of $50,450, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $333, while at the 75th percentile, it rises to around $1,132. For those at the 90th percentile, the tax bill can reach up to $2,046. Factors considered in determining the assessed value include the property's market value, condition, and any improvements made. This system ensures that property taxes reflect the current value of the property, which can impact homeowners significantly. Compared to the national median property tax rate of 0.99%, the rates in Cross City can be quite variable, influencing how much homeowners need to budget for their annual property taxes.
Average Cross City Tax Bill
$702
Average Dixie County Tax Bill
$835
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cross City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32628 | $310 | $333 | $702 | $1,132 | $2,046 |
Source: Ownwell