Defuniak Springs, Florida Property Taxes
The median property tax rate in Defuniak Springs, FL is 0.82%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Defuniak Springs at $52,222, the typical annual property tax bill is $374, significantly below the national median of $2,690. Property taxes in Defuniak Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Defuniak Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Defuniak Springs 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
Defuniak Springs, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$428
$397
Ownwell’s DEFUNIAK SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DEFUNIAK SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DEFUNIAK SPRINGS 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 Defuniak Springs, Florida
Property taxes in Defuniak Springs, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Defuniak Springs is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Defuniak Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Defuniak Springs 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 Defuniak Springs's effective property tax rate to other areas in Holmes County and the national median. For comparison, the zip code 32433 has the highest median property tax rate of 0.90%, while the zip code 32435 has the lowest median tax rate of 0.74%. Understanding how these areas compare with Defuniak Springs 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 Defuniak Springs Tax Rate
0.82%
Average Holmes County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | 0.73% | 0.80% | 0.90% | 1.20% | 1.38% |
| 32435 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Defuniak Springs, Florida
In DEFUNIAK SPRINGS, 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 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 DEFUNIAK SPRINGS, 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 DEFUNIAK SPRINGS is $52,222, with the 25th percentile tax bill at $321 and the 75th percentile tax bill at $532. The highest median tax bill is $390 in zip code 32435, while the lowest median tax bill is $359 in zip code 32433. 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 DEFUNIAK SPRINGS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Defuniak Springs Assessed Value
$52,222
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 Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | $21,372 | $32,771 | $51,770 | $79,198 | $95,655 |
| 32435 | $52,673 | $52,673 | $52,673 | $52,673 | $52,673 |
Source: Ownwell
Property Tax Bills Across Defuniak Springs, Florida
In Defuniak Springs, property tax bills are calculated based on the assessed value of a property and the applicable tax rate set by local authorities. The assessed value is determined by the county assessor and reflects the property's market value, which can fluctuate annually. In Holmes County, the median home price stands at $52,222. Homeowners in Defuniak Springs typically see property tax bills ranging from $321 at the 25th percentile to $787 at the 90th percentile. The highest median tax bill in the area is $390, found in the 32435 zip code, while the lowest median tax bill is $359 in the 32433 zip code. These figures are relatively low compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and local budget requirements can influence the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is crucial for financial planning and potential appeals if they believe their property is over-assessed.
Average Defuniak Springs Tax Bill
$374
Average Holmes County Tax Bill
$469
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Defuniak Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32433 | $237 | $283 | $359 | $658 | $838 |
| 32435 | $390 | $390 | $390 | $390 | $390 |
Source: Ownwell