Lakewood Ranch, Florida Property Taxes
The median property tax rate in Lakewood Ranch, FL is 1.06%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With the median home value in Lakewood Ranch at $570,855, the typical annual property tax bill reaches $5,800, significantly surpassing the national median of $2,690. Property taxes in Lakewood Ranch 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 Lakewood Ranch'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 Lakewood Ranch 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
Lakewood Ranch, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$6,051
$5,721
$1,148
Average Lakewood Ranch, Florida Tax Savings
Ownwell’s Lakewood Ranch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakewood Ranch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakewood Ranch 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 Lakewood Ranch. 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 Lakewood Ranch, Florida
Property taxes in Lakewood Ranch, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakewood Ranch is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Lakewood Ranch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakewood Ranch 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. For comparison, the 34202 zip code has the highest median property tax rate of 1.06%, while the same zip code also records the lowest median tax rate of 1.06%. Understanding how these figures compare with Lakewood Ranch provides valuable insights into the varying tax landscape across Manatee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakewood Ranch Tax Rate
1.06%
Average Manatee County Tax Rate
0.92%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakewood Ranch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34202 | 0.73% | 0.87% | 1.06% | 1.19% | 1.33% |
Source: Ownwell
$1,148
Average Lakewood Ranch Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lakewood Ranch, Florida
In Lakewood Ranch, 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 Manatee 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 Lakewood Ranch, 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 Lakewood Ranch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 34202 has the highest and lowest median tax bill, both at $5800, reflecting the diverse property values within the area.
Property Tax Assessment Values Across Lakewood Ranch, Florida
Source: Ownwell
$147,981
$1,010,609
$1,873,236
Average Lakewood Ranch Assessed Value
$570,855
Average Manatee County Assessed Value
$360,505
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakewood Ranch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34202 | $293,250 | $410,956 | $570,855 | $801,468 | $1,288,900 |
Source: Ownwell
$1,148
Average Lakewood Ranch Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lakewood Ranch, Florida
In Lakewood Ranch, Manatee County, FL, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For instance, with a median home price of $570,855, homeowners can expect varying tax bills, with the 25th percentile at $3,945 and the 75th percentile reaching $8,774. The highest median tax bill in the area is $5,800, found in zip code 34202. Factors such as property improvements, location, and market conditions can influence the assessed value, impacting the final tax bill. This can be a significant financial burden for homeowners. Ownwell offers expert property tax appeal and exemption services to help reduce your tax liability. By thoroughly reviewing your property’s assessment and identifying potential discrepancies, Ownwell can assist in lowering your property tax bill, ensuring you pay only what is fair and saving you money in the long run.
Average Lakewood Ranch Tax Bill
$5,800
Average Manatee County Tax Bill
$2,985
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakewood Ranch, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34202 | $2,781 | $3,945 | $5,800 | $8,774 | $13,225 |
Source: Ownwell
$1,148
Average Lakewood Ranch 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 | |
|---|---|
| Manatee Property Appraiser | |
| Website | www.manateepao.com |
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