Hampton, Florida Property Taxes
The median property tax rate in Hampton, FL is 0.98%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With the median home value in Hampton at $87,630, the typical annual property tax bill comes to $805, which is considerably less than the national median of $2,690. Property taxes in Hampton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hampton'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 Hampton 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
Hampton, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$859
$797
Ownwell’s Hampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampton 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 Hampton, Florida
Property taxes in Hampton, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hampton is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampton 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 Hampton's effective property tax rate to other areas in Bradford County and the national median. For comparison, the zip code 32044 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Hampton provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hampton Tax Rate
0.98%
Average Bradford County Tax Rate
0.94%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hampton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32044 | 0.40% | 0.63% | 0.98% | 1.61% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Hampton, Florida
In Hampton, 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 Bradford 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. Assessment notices in Hampton 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 Hampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the highest and lowest median tax bills in Hampton's zip code 32044 are both $805.
Average Hampton Assessed Value
$87,630
Average Bradford County Assessed Value
$96,435
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hampton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32044 | $34,324 | $53,107 | $87,630 | $148,729 | $229,555 |
Source: Ownwell
Property Tax Bills Across Hampton, Florida
In Hampton, located in Bradford County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. The local tax rate is applied to this assessed value to compute the annual property tax bill. For instance, with a median home price of $87,630, homeowners in Hampton can expect their tax bills to vary widely. The 25th percentile tax bill is approximately $478, whereas the 75th percentile tax bill rises to around $1,636, and the 90th percentile tax bill can reach up to $2,837. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Hampton should be aware of these factors, as property taxes can significantly impact their annual expenses. Comparing this to the national median property tax rate of 0.99%, Hampton's property tax bills reflect the local economic conditions and funding needs.
Average Hampton Tax Bill
$805
Average Bradford County Tax Bill
$903
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Hampton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32044 | $205 | $478 | $805 | $1,636 | $2,837 |
Source: Ownwell