North Bay Village, Florida Property Taxes
The median property tax rate in North Bay Village, FL is 1.89%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in North Bay Village, the typical annual property tax bill reaches $4,897, surpassing the national median of $2,690. Property taxes in North Bay Village 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 North Bay Village'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 North Bay Village 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
North Bay Village, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$5,699
$5,394
$1,148
Average North Bay Village, Florida Tax Savings
Ownwell’s North Bay Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Bay Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Bay Village 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 North Bay Village. 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 North Bay Village, Florida
Property taxes in North Bay Village, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bay Village is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Bay Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Bay Village 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 North Bay Village's effective property tax rate to other areas in Miami-Dade County and the national median. For comparison, the zip code 33141 has the highest median property tax rate of 1.89%, while the lowest median tax rate is also 1.89% in the same zip code. Understanding how these areas compare with North Bay Village provides valuable insights into the varying tax landscape across Miami-Dade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Bay Village Tax Rate
1.89%
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 North Bay Village, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33141 | 0.69% | 1.34% | 1.89% | 1.99% | 2.21% |
Source: Ownwell
$1,148
Average North Bay Village Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across North Bay Village, Florida
In North Bay Village, 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 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 North Bay Village, 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 North Bay Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 33141, with a median tax bill of $4,897.
Property Tax Assessment Values Across North Bay Village, Florida
Source: Ownwell
$160,056
$16,966,420
$33,772,783
Average North Bay Village Assessed Value
$301,546
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 North Bay Village, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33141 | $151,320 | $189,980 | $301,546 | $420,577 | $693,815 |
Source: Ownwell
$1,148
Average North Bay Village Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across North Bay Village, Florida
Property tax bills in North Bay Village, Miami-Dade County, FL, are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, with a median home price of $301,546, homeowners can expect to pay a tax bill ranging from $3,115 at the 25th percentile to $10,892 at the 90th percentile. The highest median tax bill in the area is $4,897, which is significantly higher than the national median property tax rate of 0.99%. Ownwell helps homeowners save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing the assessed value and comparing it with market data, Ownwell can identify discrepancies and file appeals on behalf of homeowners. This process can result in substantial tax savings, ensuring homeowners are not overpaying on their property taxes.
Average North Bay Village Tax Bill
$4,897
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 North Bay Village, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33141 | $2,077 | $3,115 | $4,897 | $7,259 | $10,892 |
Source: Ownwell
$1,148
Average North Bay Village 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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