Yankeetown, Florida Property Taxes
The median property tax rate in Yankeetown, FL is 1.55%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Yankeetown, the typical annual property tax bill reaches $2,112, slightly below the national median of $2,690. Property taxes in Yankeetown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yankeetown'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 Yankeetown or another part of Levy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yankeetown, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$2,988
$2,825
Ownwell’s Yankeetown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yankeetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yankeetown 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 Yankeetown, Florida
Property taxes in Yankeetown, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yankeetown is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Yankeetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yankeetown 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 Yankeetown's effective property tax rate to other counties in Florida and the national median. For comparison, the 34498 zip code has the highest median property tax rate of 1.55%, while the 34498 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Yankeetown 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 Yankeetown Tax Rate
1.55%
Average Levy County Tax Rate
1.19%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yankeetown, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34498 | 0.65% | 0.85% | 1.55% | 1.82% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Yankeetown, Florida
In Yankeetown, 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 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 Yankeetown, 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 Yankeetown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 34498 has the highest median tax bill at $2,112, which is significantly above the national median property tax rate of 0.99%.
Average Yankeetown Assessed Value
$192,774
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 Yankeetown, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34498 | $46,155 | $102,111 | $192,774 | $300,138 | $445,858 |
Source: Ownwell
Property Tax Bills Across Yankeetown, Florida
In Yankeetown, Levy County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local property assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Yankeetown, the median home price is $192,774, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $1,179 annually, while those in the 75th percentile see tax bills closer to $3,950. At the 90th percentile, tax bills can reach up to $5,686. Several factors influence these calculations, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Yankeetown's property tax rates can lead to a wide range of financial implications for homeowners. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and plan their finances accordingly.
Average Yankeetown Tax Bill
$2,112
Average Levy County Tax Bill
$1,048
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Yankeetown, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34498 | $662 | $1,179 | $2,112 | $3,950 | $5,686 |
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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