Pace, Florida Property Taxes
The median property tax rate in Pace, FL is 1.27%, which is higher than both the national median of 0.99% and Florida's state median of 1.14%. With the median home value in Pace, the typical annual property tax bill reaches $908, significantly lower than the national median of $2,690. Property taxes in Pace are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Pace'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 Pace or another part of Santa Rosa County, grasping the local property tax nuances will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pace, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$940
$889
Ownwell’s PACE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PACE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PACE 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 Pace, Florida
Property taxes in Pace, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pace is 0.69%, lower than both the Florida state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Pace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pace 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 Pace's effective property tax rate to other counties in Florida and the national median. For comparison, the 32571 zip code has the highest median property tax rate of 0.69%, while the same 32571 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Pace provides valuable insights into the varying tax landscape across Santa Rosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pace Tax Rate
1.27%
Average Santa Rosa County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32571 | 0.37% | 1.10% | 1.27% | 1.29% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Pace, Florida
In Pace, 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 Santa Rosa County 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 Pace, 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 Pace is $74,026, with tax bills ranging from $442 at the 25th percentile to $2,173 at the 90th percentile. The highest median tax bill is $872 in the 32571 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pace Assessed Value
$74,026
Average Santa Rosa County Assessed Value
$224,182
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32571 | $11,253 | $15,155 | $71,449 | $134,332 | $162,627 |
Source: Ownwell
Property Tax Bills Across Pace, Florida
In Pace, Santa Rosa County, FL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Pace can expect their tax bills to vary significantly depending on the value of their homes. For instance, the median home price in Pace is $74,026, and property tax bills range widely. The 25th percentile tax bill is $442, while the 75th percentile tax bill is $1,625, and the 90th percentile tax bill reaches up to $2,173. The local tax rate in Pace is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. Homeowners should be aware that property taxes can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, the tax rates in Pace can be considered moderate, providing a balanced approach to funding essential community services while maintaining affordability for residents.
Average Pace Tax Bill
$908
Average Santa Rosa County Tax Bill
$1,730
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Pace, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32571 | $153 | $427 | $872 | $1,589 | $2,127 |
Source: Ownwell