Stock Island, Florida Property Taxes
The median property tax rate in Stock Island, FL is 0.77%, lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Stock Island at $284,170, the typical annual property tax bill comes to $2,412, which is below the national median of $2,690. Property taxes in Stock Island are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Stock Island'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 Stock Island 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
Stock Island, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$2,188
$2,071
Ownwell’s Stock Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stock Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stock Island 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 Stock Island, Florida
Property taxes in Stock Island, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stock Island is 0.77%, lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Stock Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stock Island 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 Stock Island's effective property tax rate to other counties in Florida and the national median. For comparison, the 33040 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Stock Island provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stock Island Tax Rate
0.77%
Average Monroe County Tax Rate
0.65%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stock Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33040 | 0.37% | 0.55% | 0.77% | 0.94% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Stock Island, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stock Island, Florida. 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 Monroe 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 Stock Island, 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. For example, the median home price in Stock Island is $284,170, with tax bills varying widely. The 25th percentile tax bill is $1,763, while the 75th percentile tax bill reaches $2,716, and the 90th percentile tax bill is $3,766. Notably, the highest and lowest median tax bills, both $2,412, are found in the 33040 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stock Island, Florida
Source: Ownwell
$44,206
$2,079,812
$4,115,418
Average Stock Island Assessed Value
$284,170
Average Monroe County Assessed Value
$759,247
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stock Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33040 | $237,132 | $252,619 | $284,170 | $447,201 | $540,826 |
Source: Ownwell
Property Tax Bills Across Stock Island, Florida
In Stock Island, property tax bills are calculated based on the assessed value of a home, which is determined by the Monroe County Property Appraiser. The assessed value is typically lower than the market value and is adjusted annually to reflect changes in the housing market. The tax rate, which in Stock Island is part of Monroe County, is then applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including local government budgets, public school funding needs, and other municipal services. Homeowners in Stock Island can expect their property tax bills to range significantly. For instance, the 25th percentile tax bill is around $1,763, while the 75th percentile is approximately $2,716. Those in the 90th percentile can see bills as high as $3,766. Compared to the national median property tax rate of 0.99%, Stock Island's property taxes reflect the unique economic and budgetary requirements of Monroe County, impacting homeowners based on their property's assessed value and the local tax rate.
Average Stock Island Tax Bill
$2,412
Average Monroe County Tax Bill
$4,638
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Stock Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33040 | $1,181 | $1,763 | $2,412 | $2,716 | $3,766 |
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 | |
|---|---|
| Monroe Property Appraiser | |
| Website | qpublic.schneidercorp.com |