Bristol, Florida Property Taxes
The median property tax rate in Bristol, FL is 0.84%, notably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Bristol at $210,341, the typical annual property tax bill amounts to $1,296, which is below the national median of $2,690. Property taxes in Bristol 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 Bristol'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 Bristol 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
Bristol, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,767
$1,672
Ownwell’s Bristol Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristol with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristol 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 Bristol, Florida
Property taxes in Bristol, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristol is 0.84%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Bristol set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristol 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 Bristol's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32321 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Bristol 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 Bristol Tax Rate
0.84%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | 0.46% | 0.62% | 0.84% | 1.00% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Bristol, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bristol, Florida. 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 Bristol, 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 Bristol helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 32321 in Bristol has both the highest and lowest median tax bill at $1296.
Average Bristol Assessed Value
$210,341
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 Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | $49,915 | $87,261 | $210,341 | $369,488 | $471,754 |
Source: Ownwell
Property Tax Bills Across Bristol, Florida
In Bristol, property tax bills are calculated based on the assessed value of your home, which is determined by the local property appraiser. The assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Several factors influence this assessed value, including the home's market value, location, and any applicable exemptions or deductions. For homeowners in Bristol, the median home price is $210,341. The tax bills can vary widely, with the 25th percentile paying around $358, while those in the 75th percentile face bills up to $2,978. At the 90th percentile, tax bills can reach $4,379, indicating a significant range based on property values and exemptions. The highest median tax bill in the area is $1,296, which falls within the zip code 32321. Compared to the national median property tax rate of 0.99%, Bristol's tax rates and bills reflect the local economic conditions and property values, directly impacting homeowners' financial responsibilities.
Average Bristol Tax Bill
$1,296
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | $299 | $358 | $1,296 | $2,978 | $4,379 |
Source: Ownwell