Cutler Bay, Florida Property Taxes
The median property tax rate in Cutler Bay, FL is 1.22%, which is considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Cutler Bay, the typical annual property tax bill reaches $4,532, exceeding the national median of $2,690. Property taxes in Cutler Bay 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 Cutler Bay'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 Cutler Bay 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
Cutler Bay, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$4,831
$4,572
$1,148
Average Cutler Bay, Florida Tax Savings
Ownwell’s Cutler Bay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cutler Bay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cutler Bay 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 Cutler Bay. 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 Cutler Bay, Florida
Property taxes in Cutler Bay, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cutler Bay is 1.22%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Cutler Bay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cutler Bay 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 Cutler Bay's effective property tax rate to other counties in Florida and the national median. For comparison, the 33190 zip code has the highest median property tax rate of 1.63%, while the 33157 zip code has the lowest median tax rate of 1.08%. Understanding how these cities compare with Cutler Bay provides valuable insights into the varying tax landscape across Miami-Dade, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cutler Bay Tax Rate
1.22%
Average Miami-dade County Tax Rate
1.41%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cutler Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33157 | 0.52% | 0.63% | 1.08% | 1.61% | 1.86% |
| 33189 | 0.49% | 0.65% | 1.12% | 1.63% | 1.76% |
| 33190 | 0.79% | 1.21% | 1.63% | 2.20% | 2.57% |
Source: Ownwell
$1,148
Average Cutler Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Cutler Bay, Florida
In Cutler Bay, 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 Miami-Dade 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 Cutler Bay, 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 Cutler Bay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cutler Bay is $5,652 in the 33190 zip code, while the lowest median tax bill is $3,775 in the 33189 zip code.
Property Tax Assessment Values Across Cutler Bay, Florida
Source: Ownwell
$160,056
$16,966,420
$33,772,783
Average Cutler Bay Assessed Value
$396,000
Average Miami-dade County Assessed Value
$372,000
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cutler Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33157 | $196,760 | $396,804 | $453,149 | $563,240 | $766,882 |
| 33189 | $189,950 | $315,000 | $381,550 | $446,872 | $506,368 |
| 33190 | $207,900 | $273,000 | $333,500 | $408,444 | $507,263 |
Source: Ownwell
$1,148
Average Cutler Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Cutler Bay, Florida
In Cutler Bay, Miami-Dade County, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine your annual tax bill. For instance, with a median home price of $396,000, homeowners can expect tax bills to vary significantly, ranging from $2,677 at the 25th percentile to $8,471 at the 90th percentile. Factors influencing these amounts include property value, exemptions, and local tax rates. The highest median tax bill in Cutler Bay is $5,652 in the 33190 zip code, while the lowest is $3,775 in the 33189 zip code. Ownwell can help homeowners navigate these complexities and potentially reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell ensures your property is fairly assessed, helping you save money. Our team of professionals will guide you through the appeal process, maximizing your chances of lowering your tax obligations.
Average Cutler Bay Tax Bill
$4,532
Average Miami-dade County Tax Bill
$4,524
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cutler Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33157 | $1,953 | $2,552 | $4,529 | $7,554 | $10,970 |
| 33189 | $1,621 | $2,417 | $3,775 | $5,724 | $7,416 |
| 33190 | $2,416 | $4,037 | $5,652 | $7,140 | $8,171 |
Source: Ownwell
$1,148
Average Cutler Bay 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 17 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Miami-Dade Property Appraiser | |
| Phone | (305) 375-4050 |
| Website | www.miamidade.gov |
| mdcpa@mdcpa.net | |
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