Malone, Florida Property Taxes
The median property tax rate in Malone, FL is 0.67%, significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Malone at $62,290, the typical annual property tax bill is $413, well below the national median of $2,690. Property taxes in Malone 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 Malone'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 Malone or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malone, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$417
$395
Ownwell’s Malone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malone 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 Malone, Florida
Property taxes in Malone, Florida, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malone is 0.67%, lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Malone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malone 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 Malone's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32445 has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Malone provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malone Tax Rate
0.67%
Average Jackson County Tax Rate
0.68%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malone, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32445 | 0.14% | 0.42% | 0.67% | 1.22% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Malone, Florida
In Malone, 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 Jackson 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 Malone, 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 Malone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Malone is $413 in the 32445 zip code, which is also the lowest median tax bill in the area.
Average Malone Assessed Value
$62,290
Average Jackson County Assessed Value
$75,077
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malone, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32445 | $24,884 | $42,094 | $62,290 | $94,048 | $137,808 |
Source: Ownwell
Property Tax Bills Across Malone, Florida
In Malone, located in Jackson County, FL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Malone, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $208, while the 75th percentile tax bill is $731. At the 90th percentile, homeowners might see a tax bill as high as $1227. The median home price in Malone is $62,290, which gives context to these figures. Comparatively, the median property tax rate in Malone is lower than the national median of 0.99%. This means that while homeowners in Malone might have lower tax bills compared to the national average, the impact on their finances can still be significant depending on the value of their property.
Average Malone Tax Bill
$413
Average Jackson County Tax Bill
$487
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Malone, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32445 | $59 | $208 | $413 | $731 | $1,227 |
Source: Ownwell