Jerome, Florida Property Taxes
The median property tax rate in Jerome, FL is 1.08%, which is higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Jerome at $82,812, the typical annual property tax bill reaches $1,230, surpassing the national median of $2,690. Property taxes in Jerome 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 Jerome'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 Jerome 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
Jerome, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$894
$846
Ownwell’s Jerome Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jerome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerome 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 Jerome, Florida
Property taxes in Jerome, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerome is 1.08%, which is significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Jerome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jerome 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 Jerome's effective property tax rate to other counties in Florida and the national median. For comparison, the 34141 zip code has both the highest and lowest median property tax rate of 1.08%. Understanding how these cities compare with Jerome provides valuable insights into the varying tax landscape across Collier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jerome Tax Rate
1.08%
Average Collier County Tax Rate
0.90%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34141 | 0.85% | 1.00% | 1.08% | 1.99% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Jerome, Florida
In Jerome, 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 Collier 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 Jerome, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code with the highest median tax bill is 34141, at $1,230, while the lowest is also 34141, at $1,230. Being aware of these valuation processes in Jerome helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jerome Assessed Value
$82,812
Average Collier County Assessed Value
$405,816
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34141 | $17,298 | $44,074 | $82,812 | $140,906 | $160,783 |
Source: Ownwell
Property Tax Bills Across Jerome, Florida
In Jerome, located in Collier County, FL, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The tax rate, which varies by locality, is applied to this assessed value to calculate the annual tax bill. For homeowners in Jerome, the median home price is $82,812. The tax bills can vary significantly, with the 25th percentile at $621 and the 75th percentile reaching $1,370. At the 90th percentile, homeowners might see tax bills as high as $1,408. These figures illustrate the range of property taxes in the area, which can impact homeowners' financial planning. Comparatively, the national median property tax rate is 0.99%, and the property tax bills in Jerome reflect a range that can either be below or above this national average, depending on the specific assessed value of the property and the applicable local tax rate.
Average Jerome Tax Bill
$1,230
Average Collier County Tax Bill
$3,434
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34141 | $461 | $621 | $1,230 | $1,370 | $1,408 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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