Merritt Island, Brevard County, Florida Property Taxes
Median Merritt Island, FL effective property tax rate: 0.82%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Merritt Island, FL home value: $315,385
Median annual Merritt Island, FL tax bill: $2,517, $117 higher than the national median property tax bill of $2,400.
How are property taxes in Brevard County calculated?
Property taxes in Merritt Island, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Merritt Island’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Merritt Island, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Merritt Island, Brevard County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$2,586
$2,400
$1,102
Average Tax Savings
Ownwell’s Merritt Island Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Merritt Island with just two data points.
By entering your property's estimated assessed value, our calculator applies Merritt Island’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Brevard County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Merritt Island, Brevard County, Florida
Local government entities set property tax rates, which can vary widely within Florida. This variation occurs because each county, including Brevard, estimates its annual budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental process.
In Merritt Island, located in Brevard County, the effective property tax rate is 0.82%, which is below the national median of 1.02%. Within Brevard County, Merritt Island's rate is sandwiched between the highest rate of 0.85% in the 32953 zip code and the lowest rate of 0.79% in the 32952 zip code. This makes Merritt Island an attractive location for property owners looking for competitive tax rates. Compared to the state median of 0.82%, Merritt Island aligns closely, offering a balanced tax environment. Overall, Merritt Island's property tax rate is favorable compared to the national average, providing residents with an appealing financial advantage.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Merritt Island Tax Rate
0.82%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Brevard County Tax Rate
0.95%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Merritt Island, Brevard County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32952 | 0.45% | 0.57% | 0.79% | 1.19% | 1.32% |
| 32953 | 0.47% | 0.58% | 0.85% | 1.23% | 1.37% |
Source: Ownwell
$1,102
Average Merritt Island Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Assessment Values Across Merritt Island, Brevard County, Florida
When examining property taxes in Merritt Island, FL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Brevard County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: Brevard County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Merritt Island. For example, the median home price in Merritt Island is $315,385, with tax bills ranging significantly across the county. Zip code 32952 has the highest median home price at $323,380.
Property Tax Assessment Values Across Merritt Island, Brevard County, Florida
Source: Ownwell
$111,775
$284,218
$456,660
Median Merritt Island Market Value
$315,385
Median Brevard County Market Value
$243,020
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Merritt Island, Brevard County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32952 | $137,680 | $221,110 | $323,380 | $460,135 | $711,917 |
| 32953 | $125,010 | $200,678 | $308,870 | $432,985 | $545,175 |
Source: Ownwell
$1,102
Average Merritt Island Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Bills Across Merritt Island, Brevard County, Florida
Median Merritt Island Tax Bill
$2,517
Median Brevard County Tax Bill
$2,198
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Merritt Island, Brevard County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32952 | $866 | $1,555 | $2,580 | $3,977 | $6,078 |
| 32953 | $840 | $1,498 | $2,446 | $3,753 | $5,188 |
Source: Ownwell
$1,102
Average Merritt Island 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 1 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Brevard Property Appraiser | |
| Website | www.bcpao.us |
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