Noma, Florida Property Taxes
The median property tax rate in NOMA, FL is 0.99%, aligning with the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $44,828 in NOMA, the typical annual property tax bill is around $500, significantly below the national median of $2,690. Property taxes in NOMA are calculated based on the assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Navigating NOMA's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of NOMA 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
Noma, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$444
$420
Ownwell’s NOMA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NOMA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NOMA 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 Noma, Florida
Property taxes in NOMA, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in NOMA is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within NOMA set these rates annually, and they can vary significantly across different neighborhoods. Each year, NOMA 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 NOMA's effective property tax rate to other counties in Florida and the national median. For comparison, the 32452 zip code has the highest median property tax rate of 0.99%, while the same zip code also has the lowest median tax rate of 0.99%. Understanding how these cities compare with NOMA 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 Noma Tax Rate
0.99%
Average Holmes County Tax Rate
0.87%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Noma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32452 | 0.51% | 0.69% | 0.99% | 1.29% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Noma, Florida
In NOMA, 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 NOMA, 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. The zip code with the highest median tax bill is 32452, with a value of $500. Being aware of these valuation processes in NOMA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Noma Assessed Value
$44,828
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 Noma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32452 | $37,364 | $40,163 | $44,828 | $49,492 | $52,291 |
Source: Ownwell
Property Tax Bills Across Noma, Florida
In NOMA, Holmes County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in the area is $44,828. Once assessed, the property tax rate is applied to this value to determine the annual tax bill. The tax rate in Holmes County is relatively low compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $319, while the 75th percentile tax bill is $682, indicating a range of what homeowners might expect to pay. The 90th percentile tax bill reaches up to $791, showing the variation based on property value and other factors. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in NOMA should be aware of these factors as they can significantly impact their annual expenses.
Average Noma Tax Bill
$500
Average Holmes County Tax Bill
$469
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Noma, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32452 | $210 | $319 | $500 | $682 | $791 |
Source: Ownwell