Lorida, Florida Property Taxes
The median property tax rate in Lorida, FL is 1.37%, higher than both the national median of 0.99% and Florida's state median of 1.14%. With a median home value of $115,796, the typical annual property tax bill in Lorida reaches $1,085, still below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agriculture. Navigating Lorida's property tax system, exploring available exemptions, and identifying reduction opportunities can lead to substantial annual savings. Whether you're in the heart of Lorida or elsewhere in Highlands County, a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Lorida, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,586
$1,472
Ownwell’s Lorida Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lorida with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lorida 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 Lorida, Florida
Property taxes in Lorida, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lorida is 1.37%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Lorida set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lorida 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 Lorida's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 33857 within Lorida has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Lorida provides valuable insights into the varying tax landscape across Highlands County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lorida Tax Rate
1.37%
Average Highlands County Tax Rate
1.01%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lorida, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33857 | 0.55% | 0.74% | 1.37% | 1.60% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Lorida, Florida
In Lorida, 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 Highlands 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 Lorida, 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. For instance, the zip code 33857 in Lorida has the highest median tax bill at $1,085, highlighting the importance of being aware of these valuation processes. This knowledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lorida Assessed Value
$115,796
Average Highlands County Assessed Value
$142,723
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lorida, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33857 | $30,140 | $57,793 | $115,796 | $181,756 | $248,702 |
Source: Ownwell
Property Tax Bills Across Lorida, Florida
In the city of Lorida, located in Highlands County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Lorida typically see a range of property tax bills, influenced by the value of their homes and applicable exemptions. For instance, the median home price in Lorida is $115,796. The property tax rate in Lorida is generally aligned with the national median rate of 0.99%. Homeowners in the 25th percentile of property values might expect a tax bill around $598, while those in the 75th percentile could see bills as high as $2,039. At the 90th percentile, tax bills can reach up to $2,988. These variations highlight the impact of property values on tax liabilities, making it essential for homeowners to understand their property's assessed value and any potential exemptions they may qualify for.
Average Lorida Tax Bill
$1,085
Average Highlands County Tax Bill
$1,345
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lorida, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33857 | $376 | $598 | $1,085 | $2,039 | $2,988 |
Source: Ownwell