Hillsboro Beach, Florida Property Taxes
The median property tax rate in Hillsboro Beach, FL is 1.59%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Hillsboro Beach at $477,560, the typical annual property tax bill reaches $7,180, exceeding the national median of $2,690. Property taxes in Hillsboro Beach are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hillsboro Beach'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 Hillsboro Beach 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
Hillsboro Beach, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$7,593
$7,186
$1,148
Average Hillsboro Beach, Florida Tax Savings
Ownwell’s Hillsboro Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro Beach 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 Hillsboro Beach. 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 Hillsboro Beach, Florida
Property taxes in Hillsboro Beach, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro Beach is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hillsboro Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro Beach 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 Hillsboro Beach's effective property tax rate to other regions in Florida and the national median. For comparison, the 33062 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Hillsboro Beach provides valuable insights into the varying tax landscape across Broward County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Beach Tax Rate
1.59%
Average Broward County Tax Rate
1.44%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33062 | 0.78% | 1.19% | 1.59% | 1.73% | 1.80% |
Source: Ownwell
$1,148
Average Hillsboro Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hillsboro Beach, Florida
In Hillsboro Beach, 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 Broward 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 Hillsboro Beach, 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. The median home price in the area is $477,560, with tax bills ranging from $5,033 at the 25th percentile to $15,691 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 33062, valued at $7,180. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hillsboro Beach, Florida
Source: Ownwell
$92,640
$3,655,020
$7,217,400
Average Hillsboro Beach Assessed Value
$477,560
Average Broward County Assessed Value
$357,080
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33062 | $275,000 | $394,470 | $477,560 | $694,040 | $1,075,000 |
Source: Ownwell
$1,148
Average Hillsboro Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hillsboro Beach, Florida
In Hillsboro Beach, property tax bills are determined based on the assessed value of your home, which is influenced by the market value and local assessment rates. Broward County, where Hillsboro Beach is located, has property tax bills that vary significantly, with the 25th percentile at $5,033 and the 75th percentile at $9,912. The highest median tax bill in the area is $7,180. These amounts are higher than the national median property tax rate of 0.99%, reflecting the higher property values in the region. Homeowners in Hillsboro Beach may find these tax bills burdensome, especially if their property's assessed value increases. Factors like property improvements and market conditions can further impact the tax bill. Ownwell can assist homeowners in appealing their property tax assessments, potentially lowering their tax bills. By leveraging local expertise and understanding the nuances of property tax laws in Broward County, Ownwell helps ensure that homeowners are not overpaying and can achieve significant savings on their property taxes.
Average Hillsboro Beach Tax Bill
$7,180
Average Broward County Tax Bill
$4,521
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33062 | $3,423 | $5,033 | $7,180 | $9,912 | $15,691 |
Source: Ownwell
$1,148
Average Hillsboro Beach 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 18 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Broward Property Appraiser | |
| Phone | (954) 357-6904 |
| Website | web.bcpa.net |
| martykiar@bcpa.net | |
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