Molino, Florida Property Taxes
The median property tax rate in Molino, FL is 0.69%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Molino, the typical annual property tax bill reaches $1,096, significantly below the national median of $2,690. Property taxes in Molino 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 Molino'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 Molino 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
Molino, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,144
$1,062
Ownwell’s Molino Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Molino with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Molino 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 Molino, Florida
Property taxes in Molino, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Molino is 0.69%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Molino set these rates annually, and they can vary significantly across different neighborhoods. Each year, Molino 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 Molino's effective property tax rate to other counties in Florida and the national median. For comparison, the 32577 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Molino provides valuable insights into the varying tax landscape across Escambia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Molino Tax Rate
0.69%
Average Escambia County Tax Rate
0.90%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Molino, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32577 | 0.38% | 0.52% | 0.69% | 1.23% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Molino, Florida
In Molino, 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 Escambia 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 Molino, 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. Being aware of these valuation processes in Molino helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Molino is $165,813, with annual tax bills ranging from $518 at the 25th percentile to $3,079 at the 90th percentile. The zip code 32577 has both the highest and lowest median tax bill at $1,096.
Average Molino Assessed Value
$165,813
Average Escambia County Assessed Value
$168,090
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Molino, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32577 | $39,894 | $87,467 | $165,813 | $260,010 | $360,492 |
Source: Ownwell
Property Tax Bills Across Molino, Florida
In Molino, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the home, which in Molino has a median home price of $165,813. Various factors influence the assessed value, including property size, location, and condition. Homeowners in Molino can expect a wide range of tax bills. For instance, the tax bill at the 25th percentile is $518, while at the 75th percentile, it rises to $1,991, and at the 90th percentile, it reaches $3,079. These property taxes significantly impact homeowners, as they must budget for these annual expenses. Compared to the national median property tax rate of 0.99%, Molino's tax rates may offer some relief or burden depending on the assessed value and individual circumstances. The highest median tax bill in Molino is $1,096, which is also the lowest, indicating a consistent tax scenario across the zip code 32577 in Escambia County.
Average Molino Tax Bill
$1,096
Average Escambia County Tax Bill
$1,398
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Molino, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32577 | $259 | $518 | $1,096 | $1,991 | $3,079 |
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 | |
|---|---|
| Escambia Property Appraiser | |
| Website | www.escpa.org |