Montverde, Florida Property Taxes
The median property tax rate in Montverde, FL is 0.84%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $364,867 in Montverde, the typical annual property tax bill reaches $3,058, surpassing the national median of $2,690. Property taxes in Montverde are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Montverde'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 Montverde or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montverde, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$3,065
$2,898
$1,148
Average Montverde, Florida Tax Savings
Ownwell’s Montverde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montverde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montverde 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 Montverde. 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 Montverde, Florida
Property taxes in Montverde, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montverde is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Montverde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montverde 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 Montverde's effective property tax rate to other counties in Florida and the national median. For comparison, the 34756 zip code has the highest median property tax rate of 0.84%, while the same 34756 zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Montverde provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montverde Tax Rate
0.84%
Average Lake County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montverde, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34756 | 0.48% | 0.64% | 0.84% | 1.16% | 1.28% |
Source: Ownwell
$1,148
Average Montverde Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Montverde, Florida
In Montverde, 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 Lake 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 Montverde, 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 Montverde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 34756 in Montverde has both the highest and lowest median tax bill, standing at $3,058. This insight into local tax variations can be valuable for homeowners aiming to optimize their property tax strategies.
Average Montverde Assessed Value
$364,867
Average Lake County Assessed Value
$277,646
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montverde, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34756 | $112,062 | $201,829 | $364,867 | $516,456 | $657,370 |
Source: Ownwell
$1,148
Average Montverde Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Montverde, Florida
In Montverde, located in Lake County, FL, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. Homeowners in Montverde face a median property tax rate of 0.84%, which is below the national median of 0.99%. For instance, with a median home price of $364,867, the property tax bill can range significantly, with the 25th percentile at $1,360 and the 75th percentile reaching $4,659. Factors such as property improvements, neighborhood changes, and market trends can influence these assessed values, impacting your tax bill. Homeowners may feel the financial pressure, especially when tax bills reach the 90th percentile at $6,329. Ownwell can assist homeowners by appealing unfair assessments and identifying eligible exemptions, potentially lowering their property tax bills. By leveraging local expertise and a deep understanding of property tax laws, Ownwell helps ensure homeowners in Montverde pay only their fair share.
Average Montverde Tax Bill
$3,058
Average Lake County Tax Bill
$2,362
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Montverde, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34756 | $774 | $1,360 | $3,058 | $4,659 | $6,329 |
Source: Ownwell
$1,148
Average Montverde 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 16 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Lake Property Appraiser | |
| Website | www.lakecopropappr.com |
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