Loughman, Florida Property Taxes
The median property tax rate in Loughman, FL is 1.53%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Loughman at $149,056, the typical annual property tax bill reaches $2,245, slightly below the national median of $2,690. Property taxes in Loughman 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 Loughman’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 Loughman or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Loughman, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,281
$2,158
$1,148
Average Loughman, Florida Tax Savings
Ownwell’s Loughman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loughman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loughman 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 Loughman. 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 Loughman, Florida
Property taxes in Loughman, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loughman is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Loughman set these rates annually, and they can vary across different neighborhoods. Each year, Loughman 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 Loughman's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 33858 has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Loughman 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 Loughman Tax Rate
1.53%
Average Polk County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loughman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33858 | 1.33% | 1.41% | 1.53% | 1.87% | 2.12% |
Source: Ownwell
$1,148
Average Loughman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Loughman, Florida
In Loughman, 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 Loughman, 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 Loughman is $149,056, with tax bills ranging from $1,247 at the 25th percentile to $2,723 at the 75th percentile. The highest and lowest median tax bills both stand at $2,245 in the 33858 zip code. 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 Loughman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Loughman Assessed Value
$149,056
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 Loughman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33858 | $46,930 | $73,306 | $149,056 | $201,790 | $277,337 |
Source: Ownwell
$1,148
Average Loughman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Loughman, Florida
In Loughman, located in Polk 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 to determine the annual tax bill. For instance, with a median home price of $149,056, homeowners can expect varying tax bills. The 25th percentile tax bill is around $1,247, while the 75th percentile reaches $2,723, and the 90th percentile is approximately $2,745. Compared to the national median property tax rate of 0.99%, Loughman’s rates can be significantly impactful on homeowners. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value, thereby affecting the tax bill. Homeowners in Loughman can benefit from Ownwell’s property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners challenge and potentially lower their tax bills, ensuring they only pay their fair share. This service can lead to significant savings and financial relief for property owners.
Average Loughman Tax Bill
$2,245
Average Polk County Tax Bill
$1,931
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Loughman, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33858 | $996 | $1,247 | $2,245 | $2,723 | $2,745 |
Source: Ownwell
$1,148
Average Loughman 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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