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Lauderdale By The Sea, Florida Property Taxes

The median property tax rate in Lauderdale by the Sea, FL is 1.72%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Lauderdale by the Sea at $646,760, the typical annual property tax bill reaches $9,055, significantly exceeding the national median of $2,690. Property taxes in Lauderdale by the Sea 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 Lauderdale by the Sea'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 Lauderdale by the Sea 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

Lauderdale By The Sea, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

1.72%

Estimate Property Tax Bill

$11,124

$10,323

SAVE WITH OWNWELL

$1,148

Average Tax Savings

Ownwell’s Lauderdale By The Sea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lauderdale By The Sea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lauderdale By The Sea 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 Lauderdale By The Sea. 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 Lauderdale By The Sea, Florida

Property taxes in Lauderdale by the Sea, Florida, are essential for funding local services like public schools, road maintenance, and emergency services. The median tax rate in Lauderdale by the Sea is 1.72%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Lauderdale by the Sea set these rates annually, and they can vary across different neighborhoods. Each year, Lauderdale by the Sea 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 Lauderdale by the Sea's effective property tax rate to other counties in Florida and the national median. For comparison, the 33308 zip code has the highest median property tax rate of 1.72%, while the same zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Lauderdale by the Sea 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.

Property Tax Rates Across Lauderdale By The Sea, Florida

Source: Ownwell

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0.61%

1.65%

2.69%

Average Lauderdale By The Sea Tax Rate

1.72%

Average Broward County Tax Rate

1.44%

Average Florida Tax Rate

1.14%

Average United States Tax Rate

0.99%

Property Tax Rates Across Lauderdale By The Sea, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
33062N/AN/AN/AN/AN/A
333080.70%1.17%1.72%1.83%1.88%

Source: Ownwell

Property Tax Assessment Values Across Lauderdale By The Sea, Florida

In Lauderdale by the Sea, 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 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 Lauderdale by the Sea, 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. For instance, properties in the zip code 33308 have the highest and lowest median tax bill of $9,055. 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 Lauderdale by the Sea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Lauderdale By The Sea, Florida

Source: Ownwell

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$92,640

$3,655,020

$7,217,400

Average Lauderdale By The Sea Assessed Value

$646,760

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 Lauderdale By The Sea, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33062N/AN/AN/AN/AN/A
33308$233,642$392,970$646,760$886,695$1,227,557

Source: Ownwell

Property Tax Bills Across Lauderdale By The Sea, Florida

In Lauderdale by the Sea, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in this area is $646,760, and the property tax rate in Broward County is applied to this value to determine the tax bill. Factors such as property size, location, and improvements can affect the assessed value. For instance, homeowners in the 25th percentile can expect to pay around $5,224, while those in the 75th percentile might see bills as high as $13,705. The highest median tax bill in the 33308 zip code is $9,055, which is significantly higher than the national median property tax rate of 0.99%. Ownwell can help homeowners in Lauderdale by the Sea save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property assessment and identifies discrepancies or opportunities for exemptions, potentially lowering your tax obligation and ensuring you only pay your fair share.

Property Tax Bills Across Lauderdale By The Sea, Florida

Source: Ownwell

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$1,710

$97,776

$193,842

Average Lauderdale By The Sea Tax Bill

$9,055

Average Broward County Tax Bill

$4,521

Average Florida Tax Bill

$2,953

Average United States Tax Bill

$2,690

Property Tax Bills Across Lauderdale By The Sea, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33062N/AN/AN/AN/AN/A
33308$3,354$5,224$9,055$13,705$18,612

Source: Ownwell

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