Temple Terrace, Florida Property Taxes
The median property tax rate in Temple Terrace, FL is 1.02%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $241,061 in Temple Terrace, the typical annual property tax bill amounts to $2,318, which is below the national median of $2,690. Property taxes in Temple Terrace are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Temple Terrace'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 Temple Terrace 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
Temple Terrace, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,459
$2,325
$1,148
Average Temple Terrace, Florida Tax Savings
Ownwell’s Temple Terrace Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Temple Terrace with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Temple Terrace to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Temple Terrace. 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 Temple Terrace, Florida
Property taxes in Temple Terrace, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Temple Terrace is 1.02%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Temple Terrace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Temple Terrace 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 Temple Terrace's effective property tax rate to other areas in Hillsborough County and the national median. For comparison, the 33637 zip code has the highest median property tax rate of 1.44%, while the 33617 zip code has the lowest median tax rate of 0.93%. Understanding how these cities compare with Temple Terrace provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Temple Terrace Tax Rate
1.02%
Average Hillsborough County Tax Rate
1.27%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Temple Terrace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33617 | 0.39% | 0.64% | 0.93% | 1.54% | 1.73% |
| 33637 | 0.37% | 0.60% | 1.44% | 1.61% | 1.77% |
Source: Ownwell
$1,148
Average Temple Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Temple Terrace, Florida
In Temple Terrace, 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 Hillsborough County Property Appraiser 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 Temple Terrace, 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. The highest median tax bill in Temple Terrace is $2,575 in the 33617 zip code, while the lowest median tax bill is $2,088 in the 33637 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Temple Terrace, Florida
Source: Ownwell
$101,538
$393,264
$684,990
Average Temple Terrace Assessed Value
$241,061
Average Hillsborough County Assessed Value
$280,428
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Temple Terrace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33617 | $142,296 | $176,471 | $275,051 | $379,528 | $478,676 |
| 33637 | $103,647 | $129,264 | $191,724 | $276,083 | $339,595 |
Source: Ownwell
$1,148
Average Temple Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Temple Terrace, Florida
In Temple Terrace, located in Hillsborough County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions are considered. For instance, the median home price here is $241,061, resulting in tax bills that can vary significantly. Homeowners in the 25th percentile pay around $1,587, while those in the 75th percentile see bills of approximately $3,726. The highest median tax bill in the area is $2,575 in zip code 33617, whereas the lowest is $2,088 in zip code 33637. Ownwell helps homeowners in Temple Terrace save on their property tax bills by providing expert property tax appeal and exemption services. By ensuring that homes are accurately assessed and taking advantage of all eligible exemptions, Ownwell can help reduce the financial burden on homeowners, potentially saving them hundreds or even thousands of dollars annually.
Average Temple Terrace Tax Bill
$2,318
Average Hillsborough County Tax Bill
$3,523
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Temple Terrace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33617 | $786 | $1,696 | $2,575 | $4,015 | $5,834 |
| 33637 | $723 | $1,472 | $2,088 | $2,832 | $4,496 |
Source: Ownwell
$1,148
Average Temple Terrace Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Hillsborough Property Appraiser | |
| Phone | (813) 272-6100 |
| Website | gis.hcpafl.org |
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