Ocean Breeze, Florida Property Taxes
The median property tax rate in Ocean Breeze, FL is 1.68%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Ocean Breeze, the typical annual property tax bill reaches $272,459, far exceeding the national median of $2,690. Property taxes in Ocean Breeze 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 Ocean Breeze'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 Ocean Breeze 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
Ocean Breeze, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$272,454
$257,603
Ownwell’s Ocean Breeze Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocean Breeze with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocean Breeze 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 Ocean Breeze, Florida
Property taxes in Ocean Breeze, Florida, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ocean Breeze is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ocean Breeze set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocean Breeze 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 Ocean Breeze's effective property tax rate to other areas in Martin County and the national median. For comparison, the 34957 zip code has both the highest and lowest median property tax rate of 1.68%. Understanding how these areas compare with Ocean Breeze provides valuable insights into the varying tax landscape across Martin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ocean Breeze Tax Rate
1.68%
Average Martin County Tax Rate
1.13%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ocean Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34957 | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Ocean Breeze, Florida
In Ocean Breeze, 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 Martin 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 Ocean Breeze, 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. The median home price in Ocean Breeze is approximately $16,217,500, with the highest and lowest median tax bills both being $272,459 in zip code 34957. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ocean Breeze, Florida
Source: Ownwell
$37,370
$8,127,435
$16,217,500
Average Ocean Breeze Assessed Value
$16,217,500
Average Martin County Assessed Value
$294,470
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ocean Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34957 | $16,217,500 | $16,217,500 | $16,217,500 | $16,217,500 | $16,217,500 |
Source: Ownwell
Property Tax Bills Across Ocean Breeze, Florida
In Ocean Breeze, property tax bills are calculated based on the assessed value of the property, which is determined by the Martin County Property Appraiser. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Ocean Breeze, the median home price is $16,217,500, and the property tax rate is relatively high compared to the national median rate of 0.99%. This results in significant tax bills, with the 25th, 75th, and 90th percentiles all showing tax bills of $272,459. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. High property taxes can impact homeowners by increasing their annual expenses and affecting their overall financial planning. Understanding how these taxes are calculated and what influences them can help homeowners better prepare for their financial obligations.
Average Ocean Breeze Tax Bill
$272,459
Average Martin County Tax Bill
$3,260
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Ocean Breeze, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34957 | $272,459 | $272,459 | $272,459 | $272,459 | $272,459 |
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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