Fellsmere, Florida Property Taxes
The median property tax rate in Fellsmere, FL is 0.81%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $149,331 in Fellsmere, the typical annual property tax bill is around $1,276, significantly below the national median of $2,690. Property taxes in Fellsmere are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fellsmere'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 Fellsmere or another part of Indian River County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fellsmere, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,210
$1,122
Ownwell’s Fellsmere Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fellsmere with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fellsmere 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 Fellsmere, Florida
Property taxes in Fellsmere, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fellsmere is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Fellsmere set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fellsmere 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 Fellsmere's effective property tax rate to other areas in Florida and the national median. For comparison, the 32948 zip code has the highest median property tax rate of 0.81%, while the 32948 zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Fellsmere provides valuable insights into the varying tax landscape across Indian River County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fellsmere Tax Rate
0.81%
Average Indian River County Tax Rate
0.98%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fellsmere, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32948 | 0.36% | 0.48% | 0.81% | 1.65% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Fellsmere, Florida
In Fellsmere, 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 Indian River 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 Fellsmere, 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 Fellsmere helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fellsmere is $149,331, with annual property tax bills ranging from $712 at the 25th percentile to $3,855 at the 90th percentile. The highest and lowest median tax bills are both $1,276, found in the 32948 zip code.
Average Fellsmere Assessed Value
$149,331
Average Indian River County Assessed Value
$256,710
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fellsmere, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32948 | $53,475 | $84,628 | $149,331 | $291,135 | $406,229 |
Source: Ownwell
Property Tax Bills Across Fellsmere, Florida
In Fellsmere, located in Indian River County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local property assessor. This assessed value is then multiplied by the property tax rate set by local taxing authorities. The median home price in Fellsmere is $149,331, and the property tax rate in this region is relatively moderate compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the specific tax rate for the area. For instance, the tax bill at the 25th percentile is $712, while it rises to $2,464 at the 75th percentile and reaches $3,855 at the 90th percentile. Homeowners in the 32948 zip code experience a median tax bill of $1,276, which is consistent across the board. Understanding these figures helps homeowners in Fellsmere anticipate their annual property tax obligations and plan their finances accordingly.
Average Fellsmere Tax Bill
$1,276
Average Indian River County Tax Bill
$2,297
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Fellsmere, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32948 | $395 | $712 | $1,276 | $2,464 | $3,855 |
Source: Ownwell