St George Isl, Florida Property Taxes
The median property tax rate in ST GEORGE ISL, FL is 0.85%, which is lower than the national median of 0.99% and the Florida state median of 1.14%. With the median home value in ST GEORGE ISL at $515,001, the typical annual property tax bill reaches $4,971, surpassing the national median of $2,690. Property taxes in ST GEORGE ISL are calculated based on the assessed value, which typically falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding ST GEORGE ISL'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 ST GEORGE ISL 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
St George Isl, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$4,378
$4,143
Ownwell’s ST GEORGE ISL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ST GEORGE ISL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ST GEORGE ISL 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 St George Isl, Florida
Property taxes in ST GEORGE ISL, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ST GEORGE ISL is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within ST GEORGE ISL set these rates annually, and they can vary significantly across different neighborhoods. Each year, ST GEORGE ISL 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 ST GEORGE ISL's effective property tax rate to other counties in Florida and the national median. For comparison, the 32328 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with ST GEORGE ISL 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 St George Isl Tax Rate
0.85%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across St George Isl, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | 0.82% | 0.83% | 0.85% | 0.92% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across St George Isl, Florida
In St. George Isl, 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 St. George Isl, 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 St. George Isl helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $4,971, with the zip code 32328 reflecting this value.
Average St George Isl Assessed Value
$515,001
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 St George Isl, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $515,001 | $515,001 | $515,001 | $550,501 | $571,801 |
Source: Ownwell
Property Tax Bills Across St George Isl, Florida
In St. George Island, Franklin County, FL, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. For homeowners in St. George Island, the median home price is $515,001. The tax bill varies depending on the value of the property, with the 25th percentile tax bill being $4,583 and the 75th percentile tax bill reaching $5,043. Notably, the 90th percentile tax bill is $5,086. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rates in St. George Island can be higher, impacting homeowners by increasing their annual expenses. Understanding these factors helps homeowners budget accordingly and recognize the importance of accurate property assessments.
Average St George Isl Tax Bill
$4,971
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across St George Isl, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32328 | $4,350 | $4,583 | $4,971 | $5,043 | $5,086 |
Source: Ownwell