Salt Springs, Florida Property Taxes
The median property tax rate in Salt Springs, FL is 0.86%, which is notably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Salt Springs being $154,302, the typical annual property tax bill comes to about $1,320, significantly less than the national median of $2,690. Property taxes in Salt Springs are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Salt Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Salt Springs or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salt Springs, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,327
$1,255
Ownwell’s Salt Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salt Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salt Springs 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 Marion County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Salt Springs, Florida
Property taxes in Salt Springs, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Salt Springs is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Salt Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salt Springs 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 Salt Springs' effective property tax rate to other areas in Marion County and the national median. For comparison, the 32134 zip code has the same median property tax rate of 0.86%. Understanding how these cities compare with Salt Springs provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salt Springs Tax Rate
0.86%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salt Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32134 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Salt Springs, Florida
In Salt Springs, 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 Marion 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 Salt Springs, 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 Salt Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Salt Springs, the median home price stands at $154,302. The highest and lowest median tax bills are both $1,320, found in the zip code 32134.
Average Salt Springs Assessed Value
$154,302
Average Marion County Assessed Value
$176,469
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salt Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32134 | $154,302 | $154,302 | $154,302 | $154,302 | $154,302 |
Source: Ownwell
Property Tax Bills Across Salt Springs, Florida
In Salt Springs, located in Marion County, FL, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Salt Springs is influenced by the median home price of $154,302. Tax authorities then apply the local tax rate to this assessed value to calculate the annual property tax bill. Several factors can influence the assessed value, including property size, location, and any improvements made to the property. For Salt Springs, the median property tax bill stands at $1,320, which is significantly higher than the national median property tax rate of 0.99%. This consistent tax bill, reflected across the 25th, 75th, and 90th percentiles, indicates a stable tax environment for homeowners. Understanding how these elements interact helps homeowners in Salt Springs anticipate their financial obligations and plan accordingly. It’s essential for property owners to stay informed about changes in property values and local tax rates, as these directly impact their annual tax bills.
Average Salt Springs Tax Bill
$1,320
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Salt Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32134 | $1,320 | $1,320 | $1,320 | $1,320 | $1,320 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Marion Property Appraiser | |
| Website | www.pa.marion.fl.us |