Sorrento, Florida Property Taxes
The median property tax rate in Sorrento, FL is 0.78%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Sorrento at $426,066, the typical annual property tax bill reaches $3,021, surpassing the national median of $2,690. Property taxes in Sorrento are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sorrento'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 Sorrento or another part of Orange County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sorrento, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$3,323
$3,145
$1,148
Average Sorrento, Florida Tax Savings
Ownwell’s Sorrento Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sorrento with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sorrento 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 Sorrento. 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 Sorrento, Florida
Property taxes in Sorrento, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sorrento is 0.78%, which is notably lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Sorrento set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sorrento 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 Sorrento's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32776 has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Sorrento provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sorrento Tax Rate
0.78%
Average Orange County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sorrento, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32776 | 0.61% | 0.72% | 0.78% | 1.07% | 1.48% |
Source: Ownwell
$1,148
Average Sorrento Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Sorrento, Florida
In Sorrento, 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 Orange 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 Sorrento, 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 Sorrento helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sorrento, the zip code with the highest median tax bill is 32776, with a median tax bill of $3,021. The same zip code also has the lowest median tax bill, indicating a uniform tax rate across the area.
Average Sorrento Assessed Value
$426,066
Average Orange County Assessed Value
$317,031
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sorrento, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32776 | $181,427 | $224,482 | $426,066 | $520,493 | $533,649 |
Source: Ownwell
$1,148
Average Sorrento Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Sorrento, Florida
In Sorrento, Orange County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate. The median home price in Sorrento is $426,066, with tax bills varying significantly. For example, the 25th percentile tax bill is $1,810, while the 75th percentile is $4,625, and the 90th percentile reaches $5,610. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and market conditions. Homeowners in Sorrento can face high property tax bills, but Ownwell can help. By providing expert property tax appeal and exemption services, Ownwell assists homeowners in reducing their assessed values, thereby lowering their tax bills. This service can be particularly beneficial in areas with high median tax bills, ensuring homeowners pay only their fair share.
Average Sorrento Tax Bill
$3,021
Average Orange County Tax Bill
$3,346
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Sorrento, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32776 | $1,313 | $1,810 | $3,021 | $4,625 | $5,610 |
Source: Ownwell
$1,148
Average Sorrento 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 18 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Orange Property Appraiser | |
| Phone | (407) 836-5044 |
| Website | ocpaweb.ocpafl.org |
| Amy.Mercado@ocpafl.org | |
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