Eastpoint, Florida Property Taxes
The median property tax rate in Eastpoint, FL is 0.81%, which is lower than both the national median of 0.99% and Florida's state median of 1.14%. With the median home value in Eastpoint at $555,827, the typical annual property tax bill reaches $4,194, surpassing the national median of $2,690. Property taxes in Eastpoint are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Eastpoint'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 Eastpoint 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
Eastpoint, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$4,502
$4,261
Ownwell’s Eastpoint Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastpoint with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastpoint 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 Eastpoint, Florida
Property taxes in Eastpoint, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastpoint is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Eastpoint set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastpoint 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 Eastpoint's effective property tax rate to other counties in Florida and the national median. For comparison, the 32328 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Eastpoint 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 Eastpoint Tax Rate
0.81%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastpoint, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | 0.30% | 0.56% | 0.81% | 0.93% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Eastpoint, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eastpoint, 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 Franklin County 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 Eastpoint, 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 Eastpoint helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,194 in the 32328 zip code, while the lowest median tax bill is also $4,194 in the same zip code, highlighting the uniformity in tax assessments within this region.
Average Eastpoint Assessed Value
$555,827
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 Eastpoint, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $77,944 | $215,010 | $555,827 | $960,357 | $1,602,105 |
Source: Ownwell
Property Tax Bills Across Eastpoint, Florida
In Eastpoint, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County Property Appraiser. The assessed value considers factors such as the property's market value, location, and any applicable exemptions. Homeowners in Eastpoint can expect their property tax rates to vary, with the national median property tax rate standing at 0.99%. For instance, the median home price in Eastpoint is $555,827. Homeowners at the 25th percentile of tax bills pay around $1,444, while those at the 75th percentile pay approximately $7,741. At the 90th percentile, property tax bills can reach up to $12,878. These figures highlight the range of property tax obligations based on home values and individual circumstances. Understanding how these factors influence property tax bills can help homeowners better anticipate their annual expenses and plan their finances accordingly. The highest and lowest median tax bills in Eastpoint both stand at $4,194, reflecting some consistency in property tax assessments within the area.
Average Eastpoint Tax Bill
$4,194
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastpoint, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $365 | $1,444 | $4,194 | $7,741 | $12,878 |
Source: Ownwell