Crystal River, Florida Property Taxes
The median property tax rate in Crystal River, FL is 0.91%, lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Crystal River at $194,241, the typical annual property tax bill amounts to $1,641, well below the national median of $2,690. Property taxes in Crystal River are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Crystal River'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 Crystal River 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
Crystal River, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,768
$1,671
Ownwell’s Crystal River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crystal River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crystal River to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Crystal River, Florida
Property taxes in Crystal River, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crystal River is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Crystal River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crystal River 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 Crystal River's effective property tax rate to other areas within Citrus County and the national median. For comparison, the 34429 zip code has the highest median property tax rate of 0.98%, while the 34428 zip code has the lowest median tax rate of 0.84%. Understanding how these areas compare with Crystal River provides valuable insights into the varying tax landscape across Citrus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crystal River Tax Rate
0.91%
Average Citrus County Tax Rate
0.82%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crystal River, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34428 | 0.32% | 0.45% | 0.84% | 1.40% | 1.62% |
| 34429 | 0.37% | 0.51% | 0.98% | 1.44% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Crystal River, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Crystal River, Florida. 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 Citrus 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 Crystal River, 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, the median home price in Crystal River is $194,241, with the 25th percentile tax bill at $808 and the 75th percentile tax bill at $2,930. The highest median tax bill is $1,779 in zip code 34429, while the lowest median tax bill is $1,504 in zip code 34428. 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 Crystal River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crystal River Assessed Value
$194,241
Average Citrus County Assessed Value
$196,001
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crystal River, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34428 | $72,138 | $123,062 | $188,898 | $308,563 | $459,990 |
| 34429 | $91,812 | $144,068 | $198,524 | $285,171 | $487,274 |
Source: Ownwell
Property Tax Bills Across Crystal River, Florida
In Crystal River, located in Citrus County, FL, property tax bills are determined based on the assessed value of a home, which is calculated by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. Homeowners in Crystal River experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $808, while at the 75th percentile, it rises to $2,930. Those at the 90th percentile see tax bills as high as $5,359. Comparing these figures to the national median property tax rate of 0.99%, Crystal River's tax bills can vary significantly, impacting homeowners differently based on their property's assessed value. The highest median tax bill in the area is $1,779 in the 34429 zip code, while the lowest is $1,504 in the 34428 zip code.
Average Crystal River Tax Bill
$1,641
Average Citrus County Tax Bill
$1,605
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Crystal River, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34428 | $421 | $715 | $1,504 | $2,787 | $5,164 |
| 34429 | $558 | $911 | $1,779 | $3,065 | $5,636 |
Source: Ownwell
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Dates |
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Links | |
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| Citrus Property Appraiser | |
| Website | www.citruspa.org |