Inverness, Citrus County, Florida Property Taxes
Median Inverness, FL effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Inverness, FL home value: $180,603
Median annual Inverness, FL tax bill: $1,414, $986 lower than the national median property tax bill of $2,400.
How are property taxes in Citrus County calculated?
Property taxes in Inverness, 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 Inverness’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Inverness, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Inverness, Citrus County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.73%
Estimate Property Tax Bill
$1,318
$1,223
Property Tax Rates Across Inverness, Citrus County, Florida
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Inverness in Citrus County, Florida, offers an interesting perspective on property taxes. The effective property tax rate here is lower than the national median of 1.02%, and it is also below the state's median. This can be beneficial for homeowners in Inverness, as they might face lower property tax bills compared to other areas. Within Citrus County, the highest median tax rate is in the zip code 34453, while the lowest is in 34452.
Comparing Inverness’s effective property tax rate to other cities in Florida and the median property tax rates in the state and the U.S. highlights the variability and potential savings for local homeowners.
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 Inverness Tax Rate
0.73%
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 Citrus County Tax Rate
0.82%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Inverness, Citrus County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34450 | 0.34% | 0.45% | 0.74% | 1.35% | 1.59% |
| 34452 | 0.33% | 0.39% | 0.68% | 1.33% | 1.58% |
| 34453 | 0.31% | 0.44% | 0.77% | 1.36% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Inverness, Citrus County, Florida
When examining property taxes in Inverness, Florida, 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 Citrus 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 Citrus County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Inverness.
For example, the median home price in Inverness is $180,603, with tax bills ranging significantly across the county. Zip code 34450 has the highest median home price at $191,382.
Property Tax Assessment Values Across Inverness, Citrus County, Florida
Source: Ownwell
$103,780
$172,238
$240,696
Median Inverness Market Value
$180,603
Median Citrus County Market Value
$196,001
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Inverness, Citrus County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34450 | $96,625 | $138,134 | $191,382 | $255,669 | $347,955 |
| 34452 | $114,817 | $142,491 | $176,209 | $214,789 | $277,397 |
| 34453 | $78,606 | $121,350 | $178,317 | $247,026 | $345,267 |
Source: Ownwell
Property Tax Bills Across Inverness, Citrus County, Florida
Median Inverness Tax Bill
$1,414
Median Citrus County Tax Bill
$1,605
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Inverness, Citrus County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34450 | $522 | $812 | $1,524 | $2,459 | $3,534 |
| 34452 | $509 | $656 | $1,245 | $2,211 | $3,009 |
| 34453 | $383 | $653 | $1,456 | $2,482 | $3,595 |
Source: Ownwell
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Dates |
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Links | |
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| Citrus Property Appraiser | |
| Website | www.citruspa.org |