Alligator Point, Florida Property Taxes
The median property tax rate in Alligator Point, FL is 1.15%, slightly higher than both the national median of 0.99% and Florida's state median of 1.14%. With the median home value in Alligator Point at $309,193, the typical annual property tax bill reaches $3,113, exceeding the national median of $2,690. Property taxes in Alligator Point 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 Alligator Point'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 Alligator Point or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alligator Point, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$3,556
$3,365
Ownwell’s Alligator Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alligator Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alligator Point 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 Franklin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Alligator Point, Florida
Property taxes in Alligator Point, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alligator Point is 1.15%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Alligator Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alligator Point 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 Alligator Point's effective property tax rate to other counties in Florida and the national median. For comparison, the 32346 zip code has the highest median property tax rate of 1.15%, while the lowest median tax rate is also 1.15%. Understanding how these cities compare with Alligator Point provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alligator Point Tax Rate
1.15%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alligator Point, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32346 | 0.94% | 1.04% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Alligator Point, Florida
In Alligator Point, 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 Franklin 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 Alligator Point, 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 Alligator Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 32346, with a value of $3,113.
Property Tax Assessment Values Across Alligator Point, Florida
Source: Ownwell
$61,845
$495,135
$928,424
Average Alligator Point Assessed Value
$309,193
Average Franklin County Assessed Value
$239,550
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alligator Point, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32346 | $209,369 | $269,601 | $309,193 | $337,601 | $545,969 |
Source: Ownwell
Property Tax Bills Across Alligator Point, Florida
In Alligator Point, located in Franklin County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county property appraiser and reflects the market value of the property. Homeowners in Alligator Point can expect their tax bills to vary significantly, with the 25th percentile tax bill at $2,656 and the 75th percentile tax bill at $3,875. For those at the higher end, the 90th percentile tax bill reaches $5,911. The highest and lowest median tax bills both stand at $3,113 in the zip code 32346, indicating a consistent mid-range tax burden for many residents. Compared to the national median property tax rate of 0.99%, the tax rates in Alligator Point can have a considerable impact on homeowners, influencing their overall housing costs and financial planning. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Alligator Point Tax Bill
$3,113
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Alligator Point, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32346 | $1,845 | $2,656 | $3,113 | $3,875 | $5,911 |
Source: Ownwell