Longboat Key, Florida Property Taxes
The median property tax rate in Longboat Key, FL is 1.10%, which is slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $697,000 in Longboat Key, the typical annual property tax bill reaches $7,509, significantly exceeding the national median of $2,690. Property taxes in Longboat Key are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence exemption. Understanding Longboat Key'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 Longboat Key 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
Longboat Key, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$7,667
$7,249
$1,148
Average Longboat Key, Florida Tax Savings
Ownwell’s Longboat Key Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Longboat Key with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Longboat Key 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 Longboat Key. 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 Longboat Key, Florida
Property taxes in Longboat Key, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Longboat Key is 1.10%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Longboat Key set these rates annually, and they can vary significantly across different neighborhoods. Each year, Longboat Key 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 Longboat Key's effective property tax rate to other counties in Florida and the national median. For comparison, the 34228 zip code has the highest median property tax rate of 1.10%, while the 34228 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Longboat Key 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 Longboat Key Tax Rate
1.10%
Average Manatee County Tax Rate
0.92%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Longboat Key, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34228 | 0.60% | 0.88% | 1.10% | 1.24% | 1.40% |
Source: Ownwell
$1,148
Average Longboat Key Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Longboat Key, Florida
In Longboat Key, 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 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 Longboat Key, 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 Longboat Key helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $7,509 in the 34228 zip code, while the lowest median tax bill is also $7,509 in the same zip code.
Property Tax Assessment Values Across Longboat Key, Florida
Source: Ownwell
$147,981
$1,010,609
$1,873,236
Average Longboat Key Assessed Value
$697,000
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 Longboat Key, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34228 | $437,750 | $527,000 | $697,000 | $1,032,213 | $1,939,497 |
Source: Ownwell
$1,148
Average Longboat Key Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Longboat Key, Florida
In Longboat Key, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. Factors such as property size, location, and market conditions are considered. With a median home price of $697,000, homeowners in Longboat Key can expect property tax bills that vary widely. For instance, the 25th percentile tax bill is $5,434, while the 75th percentile reaches $10,622, and the 90th percentile can be as high as $17,864. Comparatively, the highest and lowest median tax bills in the area are both $7,509, reflecting the uniformity within the zip code 34228. Homeowners face significant financial burdens due to these property taxes, but Ownwell can help. By leveraging our expertise in property tax appeals and exemptions, we can identify potential savings and reduce your tax burden. Our services ensure that you are not overpaying and help you navigate the complexities of the property tax system, making homeownership more affordable.
Average Longboat Key Tax Bill
$7,509
Average Manatee County Tax Bill
$2,985
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Longboat Key, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34228 | $3,909 | $5,434 | $7,509 | $10,622 | $17,864 |
Source: Ownwell
$1,148
Average Longboat Key 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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