Quincy, Florida Property Taxes
The median property tax rate in Quincy, FL is 0.98%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With a median home value of $83,848, the typical annual property tax bill in Quincy amounts to $761, which is well below the national median of $2,690. Property taxes in Quincy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Quincy'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 Quincy 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
Quincy, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$822
$777
Ownwell’s Quincy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quincy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quincy 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 Quincy, Florida
Property taxes in Quincy, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quincy is 0.98%, which is slightly below the U.S. national median of 0.99%. Local government entities within Quincy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quincy 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 Quincy's effective property tax rate to other areas in Gadsden County and the national median. For comparison, the 32324 zip code has the highest median property tax rate of 1.45%, while the 32352 zip code has the lowest median tax rate of 0.77%. Understanding how these areas compare with Quincy provides valuable insights into the varying tax landscape across Gadsden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quincy Tax Rate
0.98%
Average Gadsden County Tax Rate
0.91%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quincy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32324 | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
| 32351 | 0.39% | 0.63% | 1.06% | 1.45% | 1.97% |
| 32352 | 0.30% | 0.49% | 0.77% | 1.21% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Quincy, Florida
In Quincy, 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 Gadsden 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 Quincy, 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 Quincy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Quincy, the highest median tax bill is $2,312 in the 32324 zip code, while the lowest median tax bill is $642 in the 32352 zip code.
Average Quincy Assessed Value
$83,848
Average Gadsden County Assessed Value
$92,320
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quincy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32324 | $159,576 | $159,576 | $159,576 | $159,576 | $159,576 |
| 32351 | $30,778 | $50,526 | $83,650 | $135,756 | $214,099 |
| 32352 | $34,070 | $53,554 | $85,058 | $142,869 | $228,692 |
Source: Ownwell
Property Tax Bills Across Quincy, Florida
In Quincy, located in Gadsden County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property appraiser. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with the median home price at $83,848, the tax bills can vary significantly. Homeowners in the 25th percentile can expect to pay around $411 annually, while those in the 75th percentile might see bills up to $1,473. At the 90th percentile, tax bills can reach as high as $2,373. Several factors influence these calculations, including property size, location, and any applicable exemptions. For example, the highest median tax bill in the area is $2,312 in the 32324 zip code, whereas the lowest is $642 in the 32352 zip code. Compared to the national median property tax rate of 0.99%, Quincy homeowners may find their tax rates relatively manageable, though they can vary widely depending on specific property characteristics and exemptions.
Average Quincy Tax Bill
$761
Average Gadsden County Tax Bill
$831
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Quincy, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32324 | $2,312 | $2,312 | $2,312 | $2,312 | $2,312 |
| 32351 | $241 | $433 | $803 | $1,549 | $2,471 |
| 32352 | $183 | $372 | $642 | $1,238 | $2,021 |
Source: Ownwell