Melrose, Florida Property Taxes
The median property tax rate in Melrose, FL is 1.01%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $145,141 in Melrose, the typical annual property tax bill is $1,455, which is below the national median of $2,690. Property taxes in Melrose are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Melrose'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 Melrose 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
Melrose, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,466
$1,386
Ownwell’s Melrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melrose 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 Melrose, Florida
Property taxes in Melrose, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melrose is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Melrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melrose 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 Melrose's effective property tax rate to other areas in Clay County and the national median. For comparison, the 32666 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these areas compare with Melrose provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melrose Tax Rate
1.01%
Average Clay County Tax Rate
1.07%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melrose, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32666 | 0.56% | 0.70% | 1.01% | 1.59% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Melrose, Florida
In Melrose, 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 Clay 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 Melrose, 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 Melrose is $145,141. The 25th percentile tax bill is $739, while the 75th percentile reaches $2,561. The highest median tax bill is $1,455 in the 32666 zip code, which also has the lowest median tax bill at $1,455. 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 Melrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Melrose Assessed Value
$145,141
Average Clay County Assessed Value
$232,293
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melrose, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32666 | $40,937 | $79,268 | $145,141 | $257,294 | $382,361 |
Source: Ownwell
Property Tax Bills Across Melrose, Florida
In Melrose, Clay County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county property appraiser. The assessed value is then multiplied by the local tax rate, which varies depending on local government budgets and school district funding needs. For homeowners in Melrose, the median home price is $145,141, and the property tax rate in Clay County is comparable to the national median rate of 0.99%. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Melrose can expect their tax bills to vary significantly, with the 25th percentile at $739 and the 75th percentile at $2,561. The 90th percentile tax bill reaches up to $3,989, reflecting higher-value properties or fewer exemptions. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Melrose Tax Bill
$1,455
Average Clay County Tax Bill
$2,353
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Melrose, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32666 | $541 | $739 | $1,455 | $2,561 | $3,989 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links |
|---|