Dog Island, Florida Property Taxes
The median property tax rate in Dog Island, FL is 1.27%, higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value in Dog Island, the typical annual property tax bill reaches $2,977, surpassing the national median of $2,690. Property taxes in Dog Island 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 Dog Island'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 Dog Island 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
Dog Island, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$6,110
$5,782
Ownwell’s Dog Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dog Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dog Island 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 Dog Island, Florida
Property taxes in Dog Island, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dog Island is 0.83%, which is lower than both the Florida state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Dog Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dog Island 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 Dog Island's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 33109 has the highest median property tax rate of 1.18%, while the zip code 32601 has the lowest median tax rate of 0.57%. Understanding how these cities compare with Dog Island 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 Dog Island Tax Rate
1.27%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dog Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Dog Island, Florida
In Dog Island, 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 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 Dog Island, 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. For instance, properties in the 25th percentile of tax bills pay around $2,437, while those in the 75th percentile face bills of approximately $4,104. 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 Dog Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dog Island Assessed Value
$481,081
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 Dog Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Dog Island, Florida
In Dog Island, located in Franklin County, FL, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the county's property appraiser and typically reflects the market value of the property. Franklin County's property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Dog Island experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $2,437, while at the 75th percentile, it rises to $4,104. At the 90th percentile, homeowners may pay up to $5,466 annually. These figures can vary significantly based on the assessed value and any applicable exemptions or deductions. Understanding these factors is crucial for homeowners as property taxes directly impact the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, Dog Island homeowners may find their tax rates competitive, yet it is essential to budget accordingly to avoid any surprises.
Average Dog Island Tax Bill
$2,977
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Dog Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell