Jennings, Hamilton County, Florida Property Taxes
The median property tax rate in Jennings, FL is 0.63%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Jennings, the typical annual property tax bill reaches $640, significantly below the national median of $2,690. Property taxes in Jennings 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 Jennings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jennings 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
Jennings, Hamilton County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$614
$570
Ownwell’s Jennings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jennings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jennings 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 Jennings, Hamilton County, Florida
Property taxes in Jennings, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jennings is 0.63%, which is lower than both the Florida state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Jennings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jennings 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 Jennings' effective property tax rate to other counties in Florida and the national median. For comparison, the 32053 zip code has the highest median property tax rate of 0.63%, while the 32053 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Jennings provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jennings Tax Rate
0.63%
Average Hamilton County Tax Rate
0.67%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jennings, Hamilton County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32053 | 0.18% | 0.39% | 0.63% | 1.24% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Jennings, Hamilton County, Florida
In Jennings, 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 Hamilton 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 Jennings, 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 Jennings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $640 in zip code 32053, while the lowest is also $640 in the same zip code.
Property Tax Assessment Values Across Jennings, Hamilton County, Florida
Source: Ownwell
$88,001
$92,736
$97,471
Average Jennings Assessed Value
$97,471
Average Hamilton County Assessed Value
$91,974
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jennings, Hamilton County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32053 | $37,912 | $62,378 | $97,471 | $162,654 | $242,625 |
Source: Ownwell
Property Tax Bills Across Jennings, Hamilton County, Florida
In Jennings, located in Hamilton County, FL, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value and applies any applicable exemptions. The local tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. For instance, the median home price in Jennings is $97,471. Homeowners in the 25th percentile can expect a tax bill around $360, while those in the 75th percentile might pay approximately $1,244. At the 90th percentile, tax bills can reach up to $2,170. These property taxes significantly impact homeowners, affecting their monthly housing costs and overall financial planning. Compared to the national median property tax rate of 0.99%, Jennings offers a relatively affordable tax environment, making it an attractive option for potential homeowners.
Average Jennings Tax Bill
$640
Average Hamilton County Tax Bill
$640
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Jennings, Hamilton County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32053 | $144 | $360 | $640 | $1,244 | $2,170 |
Source: Ownwell