Sopchoppy, Franklin County, Florida Property Taxes

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Sopchoppy’s effective property tax rate to other cities in Florida and the median property tax rates in Florida and the U.S.

In Sopchoppy, located in Franklin County, the property tax rate is 0.96%, which aligns with the highest and lowest median tax rates within the 32358 zip code. Compared to the national median property tax rate of 1.02%, Sopchoppy offers a slightly more favorable tax environment. The national median property tax bill is $2400, a benchmark for property owners to consider when evaluating their own tax obligations. Understanding these differences can help property owners in Sopchoppy make informed decisions about their property tax appeals and exemptions, ultimately leading to potential savings.

In Sopchoppy, Franklin County, FL, property tax bills are determined by applying the local tax rate to the assessed value of a home. This assessed value is influenced by the median home price, which stands at $483,741. Homeowners in Sopchoppy often face higher tax bills compared to the national average, with a median tax bill reaching $4,146, which is significantly above the national median of $2,400. Factors such as location, property size, and market conditions impact the assessed value, and consequently, the tax bill. For those in the 90th percentile, tax bills can soar to $7,546, making it crucial for homeowners to explore ways to reduce these costs.

Ownwell offers expert property tax appeal and exemption services to help homeowners potentially lower their tax bills. By leveraging local market insights and expertise, Ownwell can identify opportunities for appealing over-assessed properties, ensuring that homeowners are not overpaying. This strategic approach can lead to significant savings, making property ownership more affordable and manageable.