Dunnellon, Florida Property Taxes
The median property tax rate in Dunnellon, FL is 0.94%, slightly below both the national median of 0.99% and Florida's state median of 1.14%. With the median home value in Dunnellon at $168,575, the typical annual property tax bill amounts to $1,589, which is significantly lower than the national median of $2,690. Property taxes in Dunnellon are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Dunnellon'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 Dunnellon 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
Dunnellon, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,585
$1,498
Ownwell’s Dunnellon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunnellon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunnellon 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 Dunnellon, Florida
Property taxes in Dunnellon, Florida, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnellon is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Dunnellon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnellon 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 Dunnellon's effective property tax rate to other areas in Levy County and the national median. For comparison, the 34431 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these areas compare with Dunnellon provides valuable insights into the varying tax landscape across Levy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnellon Tax Rate
0.94%
Average Levy County Tax Rate
1.19%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnellon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34431 | 0.55% | 0.68% | 0.94% | 1.47% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Dunnellon, Florida
In Dunnellon, 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 Levy 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 Dunnellon, 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. For example, the median home price in Dunnellon is $168,575, with tax bills ranging from $898 at the 25th percentile to $2,383 at the 75th percentile. 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 Dunnellon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dunnellon Assessed Value
$168,575
Average Levy County Assessed Value
$106,002
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnellon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34431 | $84,420 | $115,699 | $168,575 | $237,355 | $311,898 |
Source: Ownwell
Property Tax Bills Across Dunnellon, Florida
Property tax bills in Dunnellon, Levy County, FL, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. Homeowners in Dunnellon pay a median property tax rate of 0.94%, which is slightly below the national median of 0.99%. For a median home price of $168,575, this results in a typical tax bill. Several factors influence the tax bill, including property improvements, neighborhood changes, and local government budgets. Homeowners can expect tax bills to range significantly, with the 25th percentile at $898 and the 75th percentile at $2,383. The 90th percentile even reaches up to $3,442, showing variability based on property value and location within the city. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Dunnellon Tax Bill
$1,589
Average Levy County Tax Bill
$1,048
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnellon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34431 | $623 | $898 | $1,589 | $2,383 | $3,442 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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