Cayo Costa, Florida Property Taxes
The median property tax rate in Cayo Costa, FL is 1.09%, which is slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $446,798, the typical annual property tax bill in Cayo Costa reaches $4,209, significantly surpassing the national median of $2,690. Property taxes in Cayo Costa are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cayo Costa'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 Cayo Costa or elsewhere in the area, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Cayo Costa, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$4,870
$4,519
$1,148
Average Tax Savings
Ownwell’s Cayo Costa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cayo Costa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cayo Costa to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Cayo Costa. 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 Cayo Costa, Florida
Property taxes in Cayo Costa, Florida, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cayo Costa is 0.83%, which is lower than both the Florida state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Cayo Costa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cayo Costa 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 Cayo Costa's effective property tax rate to other counties in Florida and the national median. For comparison, 33109 has the highest median property tax rate of 1.06%, while 32459 has the lowest median tax rate of 0.53%. Understanding how these cities compare with Cayo Costa provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cayo Costa Tax Rate
1.09%
Average Lee County Tax Rate
1.23%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cayo Costa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Cayo Costa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Cayo Costa, Florida
In Cayo Costa, 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 Lee 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 Cayo Costa, 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 Cayo Costa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Within Lee County, the 25th percentile tax bill is $3,167, while the 75th percentile tax bill is $7,107, and the 90th percentile tax bill is $9,987.
Average Cayo Costa Assessed Value
$446,798
Average Lee County Assessed Value
$269,922
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cayo Costa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Cayo Costa Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Cayo Costa, Florida
In Cayo Costa, located in Lee County, FL, property tax bills are calculated based on the assessed value of your home. The county assessor determines this value, which is then multiplied by the local tax rate to generate your tax bill. For example, with a median home price of $446,798, a homeowner could expect a property tax bill within the range of $3,167 to $9,987, depending on the specific assessed value and applicable exemptions. This can significantly impact homeowners, especially considering the national median property tax rate is 0.99%. Ownwell can help homeowners in Cayo Costa save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property’s assessed value, identifies discrepancies or overvaluations, and files appeals on your behalf. By ensuring your property is assessed accurately, we help lower your tax bill, providing peace of mind and financial relief. Trust Ownwell to navigate the complexities of property tax assessments and secure the savings you deserve.
Average Cayo Costa Tax Bill
$4,209
Average Lee County Tax Bill
$3,155
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cayo Costa, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Cayo Costa Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Lee Property Appraiser | |
| Website | www.leepa.org |
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