Carrabelle, Florida Property Taxes
The median property tax rate in Carrabelle, FL is 0.93%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With a median home value of $158,702 in Carrabelle, the typical annual property tax bill is approximately $1,245, which is well below the national median of $2,690. Property taxes in Carrabelle are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Carrabelle's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Carrabelle or another part of Franklin County, a solid grasp of the local property tax system can provide significant financial benefits.
Last Updated June 14, 2024
Carrabelle, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,476
$1,397
Ownwell’s Carrabelle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carrabelle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carrabelle 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 Carrabelle, Florida
Property taxes in Carrabelle, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carrabelle is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Carrabelle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carrabelle 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 Carrabelle's effective property tax rate to other counties in Florida and the national median. For comparison, the 32322 zip code has the highest median property tax rate of 0.93%, while the 32322 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Carrabelle provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carrabelle Tax Rate
0.93%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carrabelle, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32322 | 0.26% | 0.56% | 0.93% | 1.32% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Carrabelle, Florida
In Carrabelle, 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 Franklin 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 Carrabelle, 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 in Carrabelle is $158,702, with the 25th percentile tax bill at $558 and the 75th percentile tax bill at $2,438. 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 Carrabelle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carrabelle Assessed Value
$158,702
Average Franklin County Assessed Value
$239,550
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carrabelle, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32322 | $51,641 | $81,075 | $158,702 | $251,460 | $374,737 |
Source: Ownwell
Property Tax Bills Across Carrabelle, Florida
In Carrabelle, 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 property tax rate set by Franklin County to determine the annual tax bill. Factors such as the home's location, size, and condition can influence its assessed value. Homeowners in Carrabelle experience varying tax bills; for instance, the 25th percentile tax bill is $558, while the 75th percentile reaches $2,438, and the 90th percentile can be as high as $3,777. The median home price in Carrabelle is $158,702, which provides a basis for these calculations. Compared to the national median property tax rate of 0.99%, Carrabelle's tax rates reflect the local economic conditions and funding needs. These property taxes are crucial for funding public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in the area.
Average Carrabelle Tax Bill
$1,245
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Carrabelle, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32322 | $269 | $558 | $1,245 | $2,438 | $3,777 |
Source: Ownwell