Wimauma, Florida Property Taxes
The median property tax rate in Wimauma, FL is 1.88%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Wimauma at $285,998, the typical annual property tax bill reaches $5,463, far exceeding the national median of $2,690. Property taxes in Wimauma 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 Wimauma'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 Wimauma 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
Wimauma, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$5,377
$5,084
$1,148
Average Wimauma, Florida Tax Savings
Ownwell’s Wimauma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wimauma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wimauma 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 Wimauma. 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 Wimauma, Florida
Property taxes in Wimauma, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wimauma is 1.88%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Wimauma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wimauma 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 Wimauma's effective property tax rate to other counties in Florida and the national median. For comparison, the 33598 zip code has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these cities compare with Wimauma provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wimauma Tax Rate
1.88%
Average Hillsborough County Tax Rate
1.27%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wimauma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33598 | 0.88% | 1.34% | 1.88% | 2.46% | 2.86% |
Source: Ownwell
$1,148
Average Wimauma Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Wimauma, Florida
In Wimauma, 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 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 Wimauma, 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. For instance, the median home price in Wimauma is $285,998, with tax bills ranging from $3,525 at the 25th percentile to $8,308 at the 90th percentile. The highest and lowest median tax bills are both $5,463 in zip code 33598. 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 Wimauma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wimauma Assessed Value
$285,998
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 Wimauma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33598 | $98,354 | $239,360 | $285,998 | $348,163 | $433,754 |
Source: Ownwell
$1,148
Average Wimauma Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Wimauma, Florida
In Wimauma, located in Hillsborough County, FL, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The median home price in Wimauma is $285,998, and the assessed value is multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Wimauma experience a range of tax bills, with the 25th percentile at $3,525 and the 75th percentile at $6,997, while the highest median tax bill in the area is $5,463. High property taxes can significantly impact homeowners, making it crucial to ensure that assessments are accurate. Ownwell offers property tax appeal and exemption services to help homeowners potentially reduce their tax bills. By conducting thorough property evaluations and leveraging local tax laws, Ownwell can identify discrepancies in assessments and file appeals on behalf of homeowners, aiming to secure lower tax obligations and provide financial relief.
Average Wimauma Tax Bill
$5,463
Average Hillsborough County Tax Bill
$3,523
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Wimauma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33598 | $1,548 | $3,525 | $5,463 | $6,997 | $8,308 |
Source: Ownwell
$1,148
Average Wimauma 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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