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Temple Terrace, Hillsborough County, Florida Property Taxes

  • Median Temple Terrace, FL effective property tax rate: 1.02%, matching the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median Temple Terrace, FL home value: $241,061

  • Median annual Temple Terrace, FL tax bill: $2,318, $82 lower than the national median property tax bill of $2,400.

How are property taxes in Hillsborough calculated?

Property taxes in Temple Terrace, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Temple Terrace’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Temple Terrace, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Temple Terrace, Hillsborough County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.02%

Estimate Property Tax Bill

$2,459

$2,282

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Temple Terrace Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Temple Terrace with just two data points. By entering your property's estimated assessed value, our calculator applies Temple Terrace’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hillsborough County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Temple Terrace, Hillsborough County, Florida

Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Temple Terrace, located in Hillsborough County, property tax rates reflect this process. The city’s effective property tax rate can be compared to other cities in Florida, as well as to the median property tax rates in the state and across the U.S. The national median property tax rate is 1.02%, with a median tax bill of $2400. In Temple Terrace, homeowners experience a tax rate that aligns closely with the national median. However, within Hillsborough County, tax rates can vary significantly. The highest median tax rate in the county is 1.44% in the 33637 ZIP code, while the lowest is 0.93% in the 33617 ZIP code. These variations highlight the importance of understanding local property tax rates and their impact on homeowners.

Property Tax Rates Across Temple Terrace, Hillsborough County, Florida

Source: Ownwell

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0.92%

1.42%

1.91%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Temple Terrace Tax Rate

1.02%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hillsborough County Tax Rate

1.27%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Temple Terrace, Hillsborough County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
336170.39%0.64%0.93%1.54%1.73%
336370.37%0.60%1.44%1.61%1.77%

Source: Ownwell

Property Tax Assessment Values Across Temple Terrace, Hillsborough County, Florida

When examining property taxes in Temple Terrace, FL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hillsborough County Property Appraiser estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Hillsborough County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Temple Terrace. For example, the median home price in Temple Terrace is $241,061, with tax bills ranging significantly across the county. 33617 has the highest median home price at $275,051.

Property Tax Assessment Values Across Temple Terrace, Hillsborough County, Florida

Source: Ownwell

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$101,538

$393,264

$684,990

Median Temple Terrace Market Value

$241,061

Median Hillsborough County Market Value

$280,428

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Temple Terrace, Hillsborough County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33617$142,296$176,471$275,051$379,528$478,676
33637$103,647$129,264$191,724$276,083$339,595

Source: Ownwell

Property Tax Bills Across Temple Terrace, Hillsborough County, Florida

In Temple Terrace, located in Hillsborough County, FL, property tax bills are determined based on the assessed value of a home, which is set by the local tax assessor, and the applicable tax rate. Factors influencing the assessed value include the property's market value, location, and any improvements made. The median home price in Temple Terrace is $241,061. While the national median property tax rate is 1.02%, Temple Terrace homeowners face varying tax bills. For example, the tax bill at the 25th percentile is $1,587, while at the 75th percentile, it rises to $3,726. The highest median tax bill in the area, found in zip code 33617, is $2,575, which is above the national median of $2,400. This variability can significantly impact homeowners' finances. By partnering with Ownwell, homeowners can potentially reduce their property tax bills through expert appeal and exemption services. Ownwell's team of professionals works to ensure that property assessments are fair, helping homeowners save money while navigating the complexities of property tax regulations.

Property Tax Bills Across Temple Terrace, Hillsborough County, Florida

Source: Ownwell

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$1,043

$4,584

$8,124

Median Temple Terrace Tax Bill

$2,318

Median Hillsborough County Tax Bill

$3,523

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Temple Terrace, Hillsborough County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33617$786$1,696$2,575$4,015$5,834
33637$723$1,472$2,088$2,832$4,496

Source: Ownwell

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