Mayo, Lafayette County, Florida Property Taxes

Name: Property Tax Bills Across Mayo, Lafayette County, Florida
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Mayo, FL effective property tax rate: 0.97%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Mayo, FL home value: $69,223
Median annual Mayo, FL tax bill: $697, $1,703 lower than the national median property tax bill of $2,400.

How are property taxes in Lafayette calculated?

Property taxes in Mayo, FL 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 Mayo’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mayo, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Mayo, Lafayette County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.97%

Estimate Property Tax Bill

$671

$623

Ownwell’s Mayo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mayo with just two data points.

By entering your property's estimated assessed value, our calculator applies Mayo’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lafayette County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mayo, Lafayette County, Florida

Local government entities determine tax rates, which can vary significantly across different regions within a state. This variation is due to each county's annual budgetary needs. Counties calculate their required budget to fund local services and then divide this by the total assessed value of all taxable properties within their jurisdiction, resulting in the property tax rate. Although votes and regulations play a role in establishing tax rates and budgets, this is essentially the yearly procedure.

In Mayo, located in Lafayette County, Florida, the effective property tax rate is a reflection of this process. By comparing Mayo's rate to other cities within Florida and the national median, property owners can gain insight into how their local tax obligations stack up. The median property tax rate in Florida is slightly below the national average, providing a comparative advantage for property owners in the state. This can be an appealing factor for those considering property investments or relocations within Florida, as it may result in lower annual tax bills compared to the national median.

Property Tax Rates Across Mayo, Lafayette County, Florida

Source: Ownwell

0.97%

1.01%

1.04%

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 Mayo Tax Rate

0.97%

Median Effective Lafayette County Tax Rate

0.99%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mayo, Lafayette County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
32066	0.56%	0.75%	0.97%	1.74%	2.38%

Source: Ownwell

Property Tax Assessment Values Across Mayo, Lafayette County, Florida

When examining property taxes in Mayo, Florida, 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.

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 Mayo.

For example, the median home price in Mayo is $69,223, with tax bills ranging significantly across the county. Zip code 32066 has the highest median home price at $69,223.

Property Tax Assessment Values Across Mayo, Lafayette County, Florida

Source: Ownwell

$69,223

$76,826

$84,429

Median Mayo Market Value

$69,223

Median Lafayette County Market Value

$72,237

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mayo, Lafayette County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
32066	$18,391	$33,254	$69,223	$131,948	$197,181

Source: Ownwell

Property Tax Bills Across Mayo, Lafayette County, Florida

In Mayo, located in Lafayette County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate. The median home price in Mayo is $69,223, resulting in property tax bills that range significantly. Homeowners in the 25th percentile pay around $376, while those in the 75th percentile see bills of approximately $1,376. At the 90th percentile, bills can reach up to $2,133, which is below the national median property tax bill of $2,400. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. Our expertise in navigating local tax laws ensures that homeowners pay only what is necessary, potentially reducing their tax burden and providing financial relief. By leveraging Ownwell's services, homeowners can secure lower tax bills and increase their savings.

Property Tax Bills Across Mayo, Lafayette County, Florida

Source: Ownwell

$697

$798

$898

Median Mayo Tax Bill

$697

Median Lafayette County Tax Bill

$733

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Mayo, Lafayette County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
32066	$175	$376	$697	$1,376	$2,133

Source: Ownwell