Gulf County, Florida Property Taxes
The median property tax rate in Gulf County is 1.05%, 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 $190,146 in Gulf County, the typical annual property tax bill is approximately $1,572, which is below the national median of $2,690. Property taxes in Gulf County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Gulf County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Port St. Joe or another part of Gulf County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gulf County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,997
$1,853
Ownwell’s Gulf County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gulf County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gulf County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gulf County, Florida
Property taxes in Gulf County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gulf County is 1.05%, which is higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Gulf County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gulf County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Mexico Beach has one of the higher property tax rates in Florida at 1.35%, while the city of Wewahitchka boasts one of the lowest at 0.94%. Analyzing how Gulf County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gulf County Tax Rate
1.05%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gulf County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Mexico Beach | N/A | N/A | N/A | N/A | N/A |
| Port Saint Joe | 0.32% | 0.72% | 1.08% | 1.29% | 1.53% |
| Port St Joe | 0.88% | 1.07% | 1.29% | 1.30% | 1.60% |
| Wewahitchka | 0.23% | 0.47% | 0.94% | 1.27% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Gulf County, Florida
In Gulf County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gulf County Appraisal District. The assessed value, however, 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. Assessment notices in Gulf County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Mexico Beach has the highest median tax bill at $3,897, while Wewahitchka has the lowest at $583. Being aware of these valuation processes in Gulf County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gulf County Assessed Value
$190,146
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gulf County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Mexico Beach | N/A | N/A | N/A | N/A | N/A |
| Port Saint Joe | $77,331 | $162,782 | $282,760 | $488,428 | $921,856 |
| Port St Joe | $50,000 | $65,000 | $85,000 | $300,000 | $682,385 |
| Wewahitchka | $22,639 | $41,479 | $76,891 | $138,774 | $212,934 |
Source: Ownwell
Property Tax Bills Across Gulf County, Florida
In Gulf 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 reflects the market value of the property. Once the assessed value is established, the county applies its tax rate to calculate the annual property tax bill. Several factors can influence this tax bill, including property size, location, and any applicable exemptions. Homeowners in Gulf County experience a wide range of property tax bills. For instance, the 25th percentile tax bill is $569, while the 75th percentile tax bill reaches $3,879. At the higher end, the 90th percentile tax bill is $7,631. The highest median tax bill in the area is found in Mexico Beach at $3,897, whereas Wewahitchka boasts the lowest at $583. These tax bills can significantly impact homeowners' finances, making it essential to understand how local property taxes are determined and managed.
Average Gulf County Tax Bill
$1,572
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Gulf County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Mexico Beach | N/A | N/A | N/A | N/A | N/A |
| Port Saint Joe | $457 | $1,200 | $2,768 | $5,211 | $9,689 |
| Port St Joe | $700 | $839 | $1,360 | $2,935 | $8,549 |
| Wewahitchka | $151 | $327 | $583 | $1,106 | $1,834 |
Source: Ownwell