Chipley, Florida Property Taxes
The median property tax rate in Chipley, FL is 1.50%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Chipley at $56,208, the typical annual property tax bill reaches $843, which is significantly lower than the national median of $2,690. Property taxes in Chipley 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 Chipley'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 Chipley or another part of Holmes County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chipley, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$843
$782
Ownwell’s Chipley Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Chipley. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Chipley to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, neighborhood-level trends are available further down the page. Your property’s assessed value is the figure assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Chipley, Florida
Property taxes in Chipley, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chipley is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chipley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chipley 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 Chipley's effective property tax rate to other counties in Florida and the national median. For comparison, the 32428 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Chipley provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chipley Tax Rate
1.50%
Average Holmes County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chipley, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32428 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Chipley, Florida
In Chipley, 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 Holmes 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 Chipley, 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 Chipley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chipley is $56,208, with the highest and lowest median tax bills both reported at $843 in the 32428 zip code.
Average Chipley Assessed Value
$56,208
Average Holmes County Assessed Value
$55,786
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chipley, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32428 | $56,208 | $56,208 | $56,208 | $56,208 | $56,208 |
Source: Ownwell
Property Tax Bills Across Chipley, Florida
In Chipley, located in Holmes County, FL, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. For example, if a home has a median market value of $56,208, the assessed value might be a percentage of that amount, depending on local regulations. The tax rate in Chipley is applied to this assessed value to calculate the annual property tax bill. For homeowners in Chipley, the median property tax bill is $843, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable for residents. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value and, consequently, the tax bill. Homeowners should be aware of these factors as they can affect their annual property tax obligations.
Average Chipley Tax Bill
$843
Average Holmes County Tax Bill
$469
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Chipley, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32428 | $843 | $843 | $843 | $843 | $843 |
Source: Ownwell