Otter Creek, Levy County, Florida Property Taxes

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

Median OTTER CREEK, FL effective property tax rate: 1.13%, slightly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median OTTER CREEK, FL home value: $34,189
Median annual OTTER CREEK, FL tax bill: $488, $1,912 lower than the national median property tax bill of $2,400.

How are property taxes in Levy calculated?

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

Last Updated March 1, 2025

Otter Creek, Levy County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.13%

Estimate Property Tax Bill

$386

$359

Ownwell’s Otter Creek Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Otter Creek with just two data points. By entering your property's estimated assessed value, our calculator applies Otter Creek’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 Otter Creek, Levy County, Florida

Local government entities play a crucial role in setting tax rates, which can differ significantly within a state. This variation arises because each county, including Levy County, annually determines its necessary budget to fund essential services and then divides this by the total value of all taxable property within its boundaries. This process results in the property tax rate. While votes and legislation are involved in finalizing tax rates and budgets, this is the fundamental yearly procedure.

In Otter Creek, located in Levy County, the effective property tax rate is reflective of the county's fiscal strategies and requirements. When comparing Otter Creek’s property tax rate to other cities in Florida, it's essential to consider the median property tax rates across the state and the national landscape. Florida's median property tax rate stands at 1.13%, slightly above the national median of 1.02%. This comparison highlights how Otter Creek's rates align with broader state and national trends, providing residents with a perspective on their local tax contributions relative to other regions.

Property Tax Rates Across Otter Creek, 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 Otter Creek Tax Rate

1.13%

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 Otter Creek, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
32683	0.76%	0.82%	1.13%	1.92%	2.23%

Source: Ownwell

Property Tax Assessment Values Across Otter Creek, Levy County, Florida

When examining property taxes in Otter Creek, 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 appraisal district 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 the season. 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 Otter Creek. For example, the median home price in Otter Creek is $34,189, with tax bills ranging significantly across the county. Zip code 32683 has the highest median home price at $34,189.

Property Tax Assessment Values Across Otter Creek, Levy County, Florida

Source: Ownwell

$34,189

$113,482

$192,774

Median Otter Creek Market Value

$34,189

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 Otter Creek, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
32683	$15,305	$26,028	$34,189	$95,608	$149,934

Source: Ownwell

Property Tax Bills Across Otter Creek, Levy County, Florida

In Otter Creek, located in Levy County, FL, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the county assessor and is influenced by factors such as property size, location, and improvements. With a median home price of $34,189, the median property tax bill in Otter Creek is $488, considerably lower than the national median of $2,400. This low tax bill can be attributed to Florida's relatively modest property tax rates. However, even within this range, the tax bill can vary, with the 25th percentile at $270 and the 90th percentile reaching $1,440. Homeowners in Otter Creek can benefit from appealing their property tax assessments if they believe their home has been over-assessed. Ownwell offers assistance in this process, helping homeowners save on their property tax bills by ensuring they are not overpaying. By leveraging their expertise, homeowners can potentially reduce their tax burden and achieve significant savings.

Property Tax Bills Across Otter Creek, Levy County, Florida

Source: Ownwell

$488

$1,642

$2,795

Median Otter Creek Tax Bill

$488

Median Levy County Tax Bill

$1,048

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Otter Creek, Levy County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
32683	$270	$270	$488	$762	$1,440

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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