Lakeland, Florida Property Taxes
The median property tax rate in Lakeland, FL is 1.25%, which is notably higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $101,538, the typical annual property tax bill in Lakeland amounts to $1,043, considerably lower than the national median of $2,690. Property taxes in Lakeland are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Lakeland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lakeland 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
Lakeland, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,269
$1,200
$1,148
Average Lakeland, Florida Tax Savings
Ownwell’s Lakeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeland to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Lakeland. 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 Lakeland, Florida
Property taxes in Lakeland, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeland is 0.86%, lower than both the Florida state median of 0.89% and the U.S. national median of 0.99%. Local government entities within Lakeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeland 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 Lakeland's effective property tax rate to other counties in Florida and the national median. For comparison, the 33810 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Lakeland provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeland Tax Rate
1.25%
Average Hillsborough County Tax Rate
1.27%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33810 | 0.24% | 0.56% | 1.25% | 1.63% | 1.81% |
Source: Ownwell
$1,148
Average Lakeland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lakeland, Florida
In Lakeland, 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 Hillsborough 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 Lakeland, 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. The median home price in Lakeland is $101,538, with tax bills ranging from $562 at the 25th percentile to $2,784 at the 90th percentile. The zip code with the highest median tax bill is 33810, where the median tax bill is $1,043. 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 Lakeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeland Assessed Value
$101,538
Average Hillsborough County Assessed Value
$280,428
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33810 | $59,089 | $67,050 | $101,538 | $154,107 | $206,281 |
Source: Ownwell
$1,148
Average Lakeland Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lakeland, Florida
In Lakeland, Hillsborough County, FL, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. The median home price in Lakeland is $101,538, with property tax bills ranging from $562 at the 25th percentile to $2,784 at the 90th percentile. The highest and lowest median tax bill in Lakeland is $1,043, found in the 33810 zip code. Homeowners in Lakeland can benefit significantly from appealing their property tax assessments. Ownwell specializes in property tax appeal and exemption services, helping homeowners ensure their property is fairly assessed. By leveraging expert knowledge and local data, Ownwell can identify discrepancies and inaccuracies in assessments, potentially reducing your tax bill and saving you money. Trust Ownwell to navigate the complexities of property tax appeals and exemptions, ensuring you pay only your fair share.
Average Lakeland Tax Bill
$1,043
Average Hillsborough County Tax Bill
$3,523
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeland, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33810 | $303 | $562 | $1,043 | $1,520 | $2,784 |
Source: Ownwell
$1,148
Average Lakeland Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Hillsborough Property Appraiser | |
| Phone | (813) 272-6100 |
| Website | gis.hcpafl.org |
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