Carrabelle Bch, Florida Property Taxes
The median property tax rate in Carrabelle Beach, FL is 0.65%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Carrabelle Beach at $133,498, the typical annual property tax bill reaches $901, well below the national median of $2,690. Property taxes in Carrabelle Beach are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carrabelle 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 Carrabelle Beach or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carrabelle Bch, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$868
$821
Ownwell’s Carrabelle BCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carrabelle BCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carrabelle BCH 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 Bch, Florida
Property taxes in Carrabelle Beach, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carrabelle Beach is 0.65%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Carrabelle Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carrabelle 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. Understanding how these rates compare with other areas in Franklin County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carrabelle Bch Tax Rate
0.65%
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 Bch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Carrabelle Bch, Florida
In Carrabelle Beach, 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 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 Carrabelle 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. 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 Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $133,498, with tax bills ranging from $684 at the 25th percentile to $1,247 at the 90th percentile.
Average Carrabelle Bch Assessed Value
$133,498
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 Bch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Carrabelle Bch, Florida
In Carrabelle Beach, Franklin County, FL, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The median home price here is $133,498. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. The tax rate in this region is relatively lower compared to the national median property tax rate of 0.99%. Several factors influence the assessed value, including the market value of similar homes in the area, property improvements, and overall economic conditions. For homeowners in Carrabelle Beach, the 25th percentile tax bill is around $684, while the 75th percentile tax bill reaches up to $1,117. Those in the 90th percentile can expect to pay approximately $1,247 annually. Understanding these factors is crucial for homeowners as it directly affects financial planning and budgeting. Lower property taxes can be a significant advantage, making the region an attractive place for potential homebuyers.
Average Carrabelle Bch Tax Bill
$901
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 Bch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell