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Palm Bay, Brevard County, Florida Property Taxes

  • Median Palm Bay, FL effective property tax rate: 1.00%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median Palm Bay, FL home value: $213,330

  • Median annual Palm Bay, FL tax bill: $1,837, $563 lower than the national median property tax bill of $2,400.

How are property taxes in Brevard calculated?

Property taxes in Palm Bay, 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 Palm Bay’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Palm Bay, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Palm Bay, Brevard County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1%

Estimate Property Tax Bill

$2,133

$1,980

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Palm Bay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Palm Bay with just two data points. By entering your property's estimated assessed value, our calculator applies Palm Bay’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 Palm Bay, Brevard County, Florida

Local government entities set tax rates, which can vary widely within a state. This variation stems from each county's annual estimation of its required budget to provide essential services. The budget is then divided by the total value of all taxable property within the jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Palm Bay, located in Brevard County, the effective property tax rate reflects this localized approach. The city's tax rate is competitive when compared to other cities in Florida. Brevard County's median property tax rate is slightly below the national median, offering a relatively favorable environment for property owners. Within Palm Bay, tax rates can differ even further, with some areas having higher or lower rates. For instance, certain zip codes in Palm Bay have the highest and lowest median tax rates in the county. This diversity in tax rates highlights the importance of understanding local taxation dynamics, as they can significantly impact property expenses.

Property Tax Rates Across Palm Bay, Brevard County, Florida

Source: Ownwell

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0.73%

1.15%

1.56%

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 Palm Bay Tax Rate

1.00%

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 Palm Bay, Brevard County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
329050.25%0.41%1.03%1.58%1.86%
329070.30%0.38%0.88%1.58%1.90%
329080.35%0.51%1.15%1.70%1.91%
329090.31%0.46%1.05%1.60%1.90%

Source: Ownwell

Property Tax Assessment Values Across Palm Bay, Brevard County, Florida

When examining property taxes in Palm Bay, 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 Property Appraiser 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. In Brevard County, assessment notices are sent 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 Palm Bay. For example, the median home price in Palm Bay is $213,330, with tax bills ranging significantly across the county. Zip code 32909 has the highest median home price at $223,310.

Property Tax Assessment Values Across Palm Bay, Brevard County, Florida

Source: Ownwell

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$111,775

$284,218

$456,660

Median Palm Bay Market Value

$213,330

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 Palm Bay, Brevard County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
32905$88,400$122,980$171,760$216,800$278,630
32907$151,484$189,010$221,225$257,758$292,543
32908$24,558$165,660$216,720$250,420$285,210
32909$143,190$182,490$223,310$263,660$324,320

Source: Ownwell

Property Tax Bills Across Palm Bay, Brevard County, Florida

Property tax bills in Palm Bay, located in Brevard County, FL, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is derived from the market value, which can fluctuate based on various factors such as property size, location, and market conditions. In Palm Bay, the median home price is $213,330. Property tax bills can range significantly, with the 25th percentile at $783 and the 75th percentile reaching $3,132. The highest median tax bill in a specific zip code is $2,099, while the lowest is $1,494. Compared to the national median property tax bill of $2,400, Palm Bay's figures indicate a diverse tax landscape. Homeowners may find these variations impactful on their financial planning. Ownwell offers a solution by helping homeowners appeal their property tax assessments and identify potential exemptions, potentially lowering their tax bills. With expert guidance, homeowners can ensure they are not overpaying and can find relief in a system that often feels complex and overwhelming.

Property Tax Bills Across Palm Bay, Brevard County, Florida

Source: Ownwell

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$1,172

$2,522

$3,872

Median Palm Bay Tax Bill

$1,837

Median Brevard County Tax Bill

$2,198

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Palm Bay, Brevard County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
32905$352$649$1,494$2,477$3,545
32907$578$810$1,828$3,133$4,066
32908$380$758$2,028$3,270$4,204
32909$487$834$2,099$3,399$4,442

Source: Ownwell

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