Lafayette County, Florida Property Taxes
Median Lafayette County effective property tax rate: 0.99%, slightly lower than the national median of 1.02%. Median Lafayette County home value: $72,237. Median annual Lafayette County tax bill: $733, $1,667 lower than the national median property tax bill of $2,400.
How are property taxes in Lafayette County calculated?
Property taxes in Lafayette County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Mayo or another part of Lafayette County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lafayette County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$715
$664
Property Tax Rates Across Lafayette County, Florida
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lafayette County's effective property tax rate to other counties in Florida or the U.S. median property tax rate. Lafayette County’s median property tax rate stands at 0.99%, slightly below the national median rate of 1.02%. Within the state, Branford boasts the highest median property tax rate at 1.04%, indicating a slightly higher tax burden. Conversely, Mayo has the lowest median property tax rate at 0.97%, providing a more favorable tax scenario for property owners. These variations reflect how local budgetary needs and property values influence tax rates, making it essential for property owners to stay informed about their specific county's tax landscape.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lafayette County Tax Rate
0.99%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Assessment Values Across Lafayette County, Florida
When examining property taxes in Lafayette County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lafayette County Property Appraiser estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Lafayette County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lafayette County. For example, the median tax bill in Lafayette County is $898, with tax bills ranging significantly across the county. Branford has the highest median home price at $84,429.
Median Lafayette County Market Value
$72,237
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Bills Across Lafayette County, Florida
Median Lafayette County Tax Bill
$733
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400