Saint Teresa, Florida Property Taxes
The median property tax rate in Saint Teresa, FL is 0.71%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Saint Teresa, the typical annual property tax bill reaches $5,272, which still exceeds the national median of $2,690. Property taxes in Saint Teresa 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 Saint Teresa'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 Saint Teresa 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
Saint Teresa, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$5,286
$5,002
Ownwell’s Saint Teresa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Teresa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Teresa 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 Saint Teresa, Florida
Property taxes in Saint Teresa, Florida, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Teresa is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Teresa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Teresa 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 Saint Teresa's effective property tax rate to other counties in Florida and the national median. For comparison, the 32358 zip code has both the highest and lowest median property tax rate of 0.71%, illustrating a consistent tax landscape across Saint Teresa and Franklin County. Understanding how these cities compare with Saint Teresa 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 Saint Teresa Tax Rate
0.71%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | 0.71% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Saint Teresa, Florida
In Saint Teresa, 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 Saint Teresa, 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 Saint Teresa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Saint Teresa are both $5,272, found in the zip code 32358.
Average Saint Teresa Assessed Value
$744,468
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 Saint Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | $744,468 | $744,468 | $744,468 | $744,468 | $744,468 |
Source: Ownwell
Property Tax Bills Across Saint Teresa, Florida
In Saint Teresa, located in Franklin County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value. For instance, with a median home price of $744,468, the assessed value is used to calculate the tax bill. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Factors influencing the tax bill include property characteristics, market conditions, and any applicable exemptions or deductions. Homeowners in Saint Teresa can expect a median tax bill of around $5,272, which is higher than the national median property tax rate of 0.99%. This higher tax bill impacts homeowners by increasing their annual financial obligations, potentially affecting their overall budget and property affordability. Understanding these factors can help homeowners better prepare for their property tax liabilities and explore potential savings through exemptions or appeals.
Average Saint Teresa Tax Bill
$5,272
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | $5,272 | $5,272 | $5,272 | $5,272 | $5,272 |
Source: Ownwell