Oakland, Florida Property Taxes
The median property tax rate in Oakland, FL is 0.80%, 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 $310,775 in Oakland, the typical annual property tax bill amounts to $3,275, surpassing the national median of $2,690. Property taxes in Oakland 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 Oakland'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 Oakland 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
Oakland, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,486
$2,351
$1,148
Average Oakland, Florida Tax Savings
Ownwell’s Oakland Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Oakland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakland 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 Oakland. 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 Oakland, Florida
Property taxes in Oakland, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakland is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Oakland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakland 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 Oakland's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 34787 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Oakland 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 Oakland Tax Rate
0.80%
Average Lake County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34787 | 0.62% | 0.66% | 0.80% | 0.95% | 1.25% |
Source: Ownwell
$1,148
Average Oakland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Oakland, Florida
In Oakland, 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 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 Oakland, 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. The median home price is $310,775, with tax bills varying significantly. For instance, the 25th percentile tax bill is $2,127, while the 75th percentile tax bill is $4,990. 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 Oakland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakland Assessed Value
$310,775
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 Oakland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34787 | $237,405 | $271,621 | $310,775 | $786,264 | $857,917 |
Source: Ownwell
$1,148
Average Oakland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Oakland, Florida
In Oakland, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $310,775, homeowners in Oakland can expect varying tax bills. The 25th percentile tax bill is $2,127, while the 75th percentile tax bill reaches $4,990, and the 90th percentile tax bill is $5,751. These figures show that property tax bills can significantly impact homeowners' budgets. Ownwell helps homeowners in Oakland save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property’s assessed value to ensure it is fair and accurate. If discrepancies are found, we file an appeal on your behalf, potentially lowering your tax bill. With our assistance, you can achieve substantial savings and ensure you are not overpaying on your property taxes.
Average Oakland Tax Bill
$3,275
Average Lake County Tax Bill
$2,362
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34787 | $1,682 | $2,127 | $3,275 | $4,990 | $5,751 |
Source: Ownwell
$1,148
Average Oakland 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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