Palatka, Florida Property Taxes
The median property tax rate in Palatka, FL is 1.07%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With the median home value in Palatka at $109,020, the typical annual property tax bill amounts to $1,131, which is below the national median of $2,690. Property taxes in Palatka are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Palatka'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 Palatka 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
Palatka, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,167
$1,104
Ownwell’s Palatka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palatka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palatka 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 Palatka, Florida
Property taxes in Palatka, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palatka is 1.07%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Palatka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palatka 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 Palatka's effective property tax rate to other counties in Florida and the national median. For comparison, the 32134 zip code has the highest median property tax rate of 1.49%, while the 32043 zip code has the lowest median tax rate of 1.03%. Understanding how these cities compare with Palatka provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palatka Tax Rate
1.07%
Average Putnam County Tax Rate
1.17%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palatka, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32043 | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% |
| 32134 | 0.96% | 1.22% | 1.49% | 1.95% | 2.57% |
| 32177 | 0.54% | 0.71% | 1.07% | 1.73% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Palatka, Florida
In Palatka, 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 Putnam 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 Palatka, 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. For instance, the highest median tax bill in the area is $8,488 in the 32043 zip code, while the lowest is $308 in the 32134 zip code. Being aware of these valuation processes in Palatka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Palatka Assessed Value
$109,020
Average Putnam County Assessed Value
$96,560
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palatka, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32043 | $824,890 | $824,890 | $824,890 | $824,890 | $824,890 |
| 32134 | $6,640 | $12,400 | $17,300 | $69,715 | $161,002 |
| 32177 | $36,525 | $66,422 | $109,025 | $178,384 | $282,110 |
Source: Ownwell
Property Tax Bills Across Palatka, Florida
Property tax bills in Palatka, located in Putnam County, FL, are determined by assessing the market value of a property and applying the local tax rate to this value. The assessed value is influenced by factors such as the property's location, size, and condition. For example, the median home price in Palatka is $109,020. Homeowners in the 25th percentile of tax bills pay around $688, while those in the 75th percentile face bills of approximately $1,980. At the 90th percentile, tax bills can reach up to $3,165. These tax bills significantly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Palatka's rates can vary widely, reflecting the diverse property values in the area. The highest median tax bill in the county is $8,488, found in the 32043 zip code, while the lowest is $308 in the 32134 zip code. This variability underscores the importance of understanding local property tax assessments.
Average Palatka Tax Bill
$1,131
Average Putnam County Tax Bill
$977
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Palatka, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32043 | $8,488 | $8,488 | $8,488 | $8,488 | $8,488 |
| 32134 | $76 | $124 | $308 | $1,108 | $2,263 |
| 32177 | $374 | $689 | $1,131 | $1,980 | $3,163 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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