Thomasville, Florida Property Taxes
The median property tax rate in Thomasville, FL is 1.70%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Thomasville, the typical annual property tax bill reaches $2,507, slightly below the national median of $2,690. Property taxes in Thomasville 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 Thomasville'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 Thomasville 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
Thomasville, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$2,508
$2,373
Ownwell’s Thomasville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Thomasville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thomasville 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 Thomasville, Florida
Property taxes in Thomasville, Florida, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Thomasville is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Thomasville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thomasville 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 Thomasville's effective property tax rate to other counties in Florida and the national median. For comparison, the 31792 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Thomasville 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 Thomasville Tax Rate
1.70%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomasville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31792 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Thomasville, Florida
In Thomasville, 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 Thomasville, 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 Thomasville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both occur in the 31792 zip code, with a median tax bill of $2,507.
Average Thomasville Assessed Value
$147,501
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 Thomasville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31792 | $147,501 | $147,501 | $147,501 | $147,501 | $147,501 |
Source: Ownwell
Property Tax Bills Across Thomasville, Florida
In Thomasville, located in Franklin County, FL, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value typically reflects a percentage of the property's market value. For homeowners in Thomasville, various factors such as property size, location, and any improvements made can influence the assessed value. The median home price in Thomasville stands at $147,501, and property tax bills can vary significantly. For example, the 25th, 75th, and 90th percentiles for tax bills are all at $2,507, indicating a consistent tax rate across different property values. Compared to the national median property tax rate of 0.99%, Thomasville's tax bills are relatively high. This consistency in tax bills implies a stable and predictable property tax environment for homeowners, which can be beneficial for financial planning. However, it also means that property owners need to be prepared for relatively higher tax obligations compared to other regions in the country.
Average Thomasville Tax Bill
$2,507
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomasville, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31792 | $2,507 | $2,507 | $2,507 | $2,507 | $2,507 |
Source: Ownwell