Cedar Key, Levy County, Florida Property Taxes

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

Median Cedar Key, FL effective property tax rate: 1.65%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%. Median Cedar Key, FL home value: $190,000. Median annual Cedar Key, FL tax bill: $2,795, $395 higher than the national median property tax bill of $2,400.

How are property taxes in Levy County calculated?

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

Last Updated March 1, 2025

Cedar Key, Levy County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.65%

Estimate Property Tax Bill

$3,135

$2,909

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

By entering your property's estimated assessed value, our calculator applies Cedar Key’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 Levy County.

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

Property Tax Rates Across Cedar Key, Levy County, Florida

Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties estimate the required budget to maintain services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

Cedar Key in Levy County, Florida, offers a unique perspective on property taxes. The effective property tax rate in Cedar Key aligns with the county's median rate of 1.65%, which is notably higher than the national median property tax rate of 1.02%. This comparison highlights the variability in property tax rates across different regions.

Understanding these differences can be crucial for property owners looking to manage their expenses effectively. By comparing Cedar Key’s property tax rate to those in other cities within Florida and the national averages, property owners can gain valuable insights into their financial commitments.

Property Tax Rates Across Cedar Key, Levy County, Florida

Source: Ownwell

0.94%

1.30%

1.65%

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 Cedar Key Tax Rate

1.65%

Median Effective Levy County Tax Rate

1.19%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cedar Key, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
32625	0.77%	1.14%	1.65%	2.08%	2.26%

Source: Ownwell

Property Tax Assessment Values Across Cedar Key, Levy County, Florida

When examining property taxes in Cedar Key, 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 Levy 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 Levy 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 Cedar Key.

For example, the median home price in Cedar Key is $190,000, with tax bills ranging significantly across the county. Zip code 32625 has the highest median home price at $190,000, which is also where you'll find the highest median tax bill of $2,795.

Property Tax Assessment Values Across Cedar Key, Levy County, Florida

Source: Ownwell

$34,189

$113,482

$192,774

Median Cedar Key Market Value

$190,000

Median Levy County Market Value

$106,002

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cedar Key, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
32625	$49,400	$88,964	$190,000	$290,194	$431,731

Source: Ownwell

Property Tax Bills Across Cedar Key, Levy County, Florida

In Cedar Key, Levy County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property appraiser. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Homeowners in Cedar Key typically face a median property tax bill of $2,795, which is slightly above the national median of $2,400. Factors such as the home's location, size, and market conditions can influence the assessed value, impacting the final tax bill. For instance, the 25th percentile tax bill is $1,235, while the 75th percentile reaches $4,802, showcasing the variability in tax liabilities. Ownwell can assist homeowners by reviewing their property assessments to ensure accuracy and identify potential savings. By filing appeals and seeking exemptions, Ownwell helps homeowners reduce their property tax bills, potentially saving them a significant amount of money annually. This service can be particularly beneficial in areas like Cedar Key, where tax bills are above the national average.

Property Tax Bills Across Cedar Key, Levy County, Florida

Source: Ownwell

$488

$1,642

$2,795

Median Cedar Key Tax Bill

$2,795

Median Levy County Tax Bill

$1,048

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Cedar Key, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
32625	$634	$1,235	$2,795	$4,802	$6,663

Source: Ownwell

Don't miss the deadline to petition!

Dates
Property Valuation Date	January 1
Appeal Deadline	September 13
Tax Bill
Issued	November 1

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