Okeechobee, Florida Property Taxes
The median property tax rate in Okeechobee, FL is 1.67%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Okeechobee at $65,250, the typical annual property tax bill is $1,176, which is below the national median of $2,690. Property taxes in Okeechobee are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Okeechobee's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Okeechobee 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
Okeechobee, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$1,090
$1,031
$1,148
Average Okeechobee, Florida Tax Savings
Ownwell’s Okeechobee Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Okeechobee using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okeechobee to provide an accurate property tax bill estimate. This valuable tool not only helps you grasp potential tax liabilities but also demonstrates how Ownwell can assist in reducing property taxes in Okeechobee. For those interested in neighborhood-specific trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Okeechobee, Florida
Property taxes in Okeechobee, Florida, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Okeechobee is 1.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Okeechobee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okeechobee 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 Okeechobee's effective property tax rate to other counties in Florida and the national median. For comparison, the 34972 zip code has the highest median property tax rate of 1.67%, while the same zip code also has the lowest median tax rate of 1.67%. Understanding how these areas compare with Okeechobee provides valuable insights into the varying tax landscape across Osceola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Okeechobee Tax Rate
1.67%
Average Osceola County Tax Rate
1.40%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okeechobee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34972 | 1.11% | 1.28% | 1.67% | 2.28% | 2.73% |
Source: Ownwell
$1,148
Average Okeechobee Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Okeechobee, Florida
In Okeechobee, 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 Osceola 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 Okeechobee, 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 Okeechobee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 34972 has the highest and lowest median tax bill at $1,176, reflecting the county's uniformity in tax assessments.
Average Okeechobee Assessed Value
$65,250
Average Osceola County Assessed Value
$247,000
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okeechobee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34972 | $36,100 | $47,650 | $65,250 | $84,775 | $136,600 |
Source: Ownwell
$1,148
Average Okeechobee Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Okeechobee, Florida
In Okeechobee, part of Osceola County, FL, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by the county assessor and reflects a percentage of the property's market value. The median home price in Okeechobee is $65,250, with property tax bills ranging from $902 at the 25th percentile to $1,844 at the 90th percentile. The median tax bill in the highest and lowest zip codes is $1,176. Several factors influence your tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Okeechobee's property taxes can be a significant expense for homeowners. Ownwell's property tax consulting services can help homeowners in Okeechobee save on their tax bills. By thoroughly reviewing assessments and filing appeals on your behalf, Ownwell ensures that your property is not over-assessed, potentially reducing your tax burden and saving you money.
Average Okeechobee Tax Bill
$1,176
Average Osceola County Tax Bill
$3,024
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Okeechobee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34972 | $693 | $902 | $1,176 | $1,503 | $1,844 |
Source: Ownwell
$1,148
Average Okeechobee 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 10 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Osceola Property Appraiser | |
| Website | ira.property-appraiser.org |
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