Waldo, Florida Property Taxes
The median property tax rate in Waldo, FL is 1.47%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Waldo, the typical annual property tax bill reaches $9,785, exceeding the national median of $2,690. Property taxes in Waldo are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waldo'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 Waldo 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
Waldo, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$9,817
$9,110
Ownwell’s Waldo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waldo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldo 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 Waldo, Florida
Property taxes in Waldo, Florida, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldo is 1.47%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Waldo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldo 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 Waldo's effective property tax rate to other counties in Florida and the national median. For comparison, the 32694 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these values compare with Waldo 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 Waldo Tax Rate
1.47%
Average Bradford County Tax Rate
0.94%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32694 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Waldo, Florida
In Waldo, 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. In Waldo, 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. Being aware of these valuation processes in Waldo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Waldo, the highest and lowest median tax bills are both $9,785, found in the zip code 32694.
Average Waldo Assessed Value
$667,856
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 Waldo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32694 | $667,856 | $667,856 | $667,856 | $667,856 | $667,856 |
Source: Ownwell
Property Tax Bills Across Waldo, Florida
In Waldo, located in Bradford County, FL, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and typically aims to reflect the market value of your property. Once the assessed value is established, the property tax rate, which is set by local government entities, is applied. For homeowners in Waldo, the median home price is $667,856, and the tax bill is notably consistent, with figures at the 25th, 75th, and 90th percentiles all standing at $9,785. This consistency suggests a relatively stable property tax environment in the area. Compared to the national median property tax rate of 0.99%, the property tax rate in Waldo may appear high, but it ensures that local services such as schools, public safety, and infrastructure are adequately funded. For homeowners, understanding these factors is crucial as they directly impact the annual cost of homeownership and the overall affordability of maintaining property in Waldo.
Average Waldo Tax Bill
$9,785
Average Bradford County Tax Bill
$903
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32694 | $9,785 | $9,785 | $9,785 | $9,785 | $9,785 |
Source: Ownwell