Barefoot Bay, Florida Property Taxes
The median property tax rate in Barefoot Bay, FL is 1.56%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $175,620 in Barefoot Bay, the typical annual property tax bill amounts to $2,588, which is just below the national median of $2,690. Property taxes in Barefoot Bay are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Barefoot Bay'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 Barefoot Bay or another part of Brevard County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barefoot Bay, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,740
$2,590
$1,148
Average Barefoot Bay, Florida Tax Savings
Ownwell’s Barefoot Bay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barefoot Bay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barefoot Bay 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 Barefoot Bay. 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 Barefoot Bay, Florida
Property taxes in Barefoot Bay, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barefoot Bay is 1.56%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Barefoot Bay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barefoot Bay 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 Barefoot Bay's effective property tax rate to other counties in Florida and the national median. For comparison, the 32976 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Barefoot Bay provides valuable insights into the varying tax landscape across Brevard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barefoot Bay Tax Rate
1.56%
Average Brevard County Tax Rate
0.95%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barefoot Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32976 | 1.11% | 1.18% | 1.56% | 1.85% | 1.98% |
Source: Ownwell
$1,148
Average Barefoot Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Barefoot Bay, Florida
In Barefoot Bay, 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 Brevard County Appraisal District 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 Barefoot Bay, 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 Barefoot Bay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 32976, with a median tax bill of $2,588.
Average Barefoot Bay Assessed Value
$175,620
Average Brevard County Assessed Value
$243,020
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barefoot Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32976 | $129,370 | $161,628 | $175,620 | $188,162 | $213,975 |
Source: Ownwell
$1,148
Average Barefoot Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Barefoot Bay, Florida
In Barefoot Bay, located in Brevard County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property appraiser. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $175,620, homeowners can expect tax bills ranging from $2,321 at the 25th percentile to $3,218 at the 90th percentile. This variation is influenced by factors such as property location, improvements, and any applicable exemptions. Property taxes in Barefoot Bay can significantly impact homeowners, potentially straining their finances. Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging their expertise, Ownwell helps homeowners navigate the complexities of property tax assessments, ensuring they receive the most accurate valuation. This can lead to substantial savings on annual tax bills, providing financial relief and peace of mind.
Average Barefoot Bay Tax Bill
$2,588
Average Brevard County Tax Bill
$2,198
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Barefoot Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32976 | $1,675 | $2,321 | $2,588 | $3,145 | $3,218 |
Source: Ownwell
$1,148
Average Barefoot Bay 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 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Brevard Property Appraiser | |
| Website | www.bcpao.us |
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