Frostproof, Florida Property Taxes
The median property tax rate in Frostproof, FL is 1.30%, which is higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $104,864 in Frostproof, the typical annual property tax bill is $1,116, which is below the national median of $2,690. Property taxes in Frostproof 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 Frostproof'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 Frostproof 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
Frostproof, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,363
$1,289
$1,148
Average Frostproof, Florida Tax Savings
Ownwell’s Frostproof Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frostproof with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frostproof 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 Frostproof. 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 Frostproof, Florida
Property taxes in Frostproof, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frostproof is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Frostproof set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frostproof 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 Frostproof's effective property tax rate to other regions in Florida and the national median. For comparison, the zip code 33843 has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these areas compare with Frostproof provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frostproof Tax Rate
1.30%
Average Polk County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frostproof, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33843 | 0.51% | 0.74% | 1.30% | 1.68% | 2.01% |
Source: Ownwell
$1,148
Average Frostproof Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Frostproof, Florida
In Frostproof, 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 Polk 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 Frostproof, 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. The median home price in Frostproof is $104,864, with tax bills ranging from $676 at the 25th percentile to $2,762 at the 90th percentile. The zip code 33843 has both the highest and lowest median tax bill of $1,116. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frostproof Assessed Value
$104,864
Average Polk County Assessed Value
$203,226
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frostproof, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33843 | $35,939 | $62,644 | $104,864 | $161,704 | $253,128 |
Source: Ownwell
$1,148
Average Frostproof Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Frostproof, Florida
In Frostproof, located in Polk County, FL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. With a median home price of $104,864, homeowners can expect their tax bills to vary significantly. For instance, tax bills in the 25th percentile are around $676, while those in the 75th percentile can reach up to $1,773, and the 90th percentile can go as high as $2,762. These figures are influenced by the property's assessed value, exemptions, and the local tax rate, which can be compared to the national median property tax rate of 0.99%. Homeowners in Frostproof can benefit from Ownwell's expertise in property tax appeal and exemption services. By analyzing your property’s assessed value and identifying potential discrepancies, Ownwell can help you file a successful appeal, potentially lowering your tax bill. This can result in significant savings, ensuring you are not overpaying on your property taxes.
Average Frostproof Tax Bill
$1,116
Average Polk County Tax Bill
$1,931
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Frostproof, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33843 | $444 | $676 | $1,116 | $1,773 | $2,762 |
Source: Ownwell
$1,148
Average Frostproof 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 | |
|---|---|
| Polk Property Appraiser | |
| Website | www.polkpa.org |
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