St Teresa, Florida Property Taxes
The median property tax rate in St Teresa, FL is 1.00%, which is slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $427,575 in St Teresa, the typical annual property tax bill amounts to $3,865, significantly surpassing the national median of $2,690. Property taxes in St Teresa are determined based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating St Teresa's property tax system, leveraging available exemptions, and finding opportunities for reductions can yield substantial annual savings. Whether you're in the heart of St Teresa or another part of Franklin County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
St Teresa, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$4,276
$4,046
Ownwell’s St Teresa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in St Teresa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in St Teresa 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 St Teresa, Florida
Property taxes in St Teresa, Florida, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in St Teresa is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within St Teresa set these rates annually, and they can vary significantly across different neighborhoods. Each year, St Teresa 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 St Teresa's effective property tax rate to other counties in Florida and the national median. For comparison, the 32358 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with St Teresa 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 St Teresa Tax Rate
1.00%
Average Franklin County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across St Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | 0.58% | 0.84% | 1.00% | 1.00% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across St Teresa, Florida
In St Teresa, 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 St Teresa, 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 St Teresa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 32358 has the highest median tax bill at $3,865, while the lowest median tax bill is also in the same zip code at $3,865.
Average St Teresa Assessed Value
$427,575
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 St Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | $252,559 | $369,433 | $427,575 | $480,400 | $642,920 |
Source: Ownwell
Property Tax Bills Across St Teresa, Florida
In St. Teresa, property tax bills are calculated based on the assessed value of a home, which is determined by the Franklin County assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in St. Teresa is $427,575. Homeowners in the 25th percentile of tax bills pay around $3,428 annually, while those in the 75th percentile pay approximately $4,429. The 90th percentile sees tax bills reaching up to $4,707. Several factors influence the assessed value, including the property's market value, location, and any applicable exemptions or deductions. These assessments ensure that the tax burden is distributed fairly among homeowners. Compared to the national median property tax rate of 0.99%, St. Teresa's property tax rates can significantly impact homeowners' finances, especially those with higher-valued properties. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average St Teresa Tax Bill
$3,865
Average Franklin County Tax Bill
$2,090
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across St Teresa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32358 | $2,286 | $3,428 | $3,865 | $4,429 | $4,707 |
Source: Ownwell