Bristol, Florida Property Taxes
The median property tax rate in Bristol, FL is 1.20%, which is higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Bristol at $55,886, the typical annual property tax bill amounts to $524, which is significantly lower than the national median of $2,690. Property taxes in Bristol are calculated based on the tax assessed value, often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bristol's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bristol or another part of Liberty County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bristol, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$671
$622
Ownwell’s Bristol Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristol with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristol to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Bristol, Florida
Property taxes in Bristol, Florida, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristol stands at 1.20%, which is significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Bristol set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristol 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 Bristol's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32321 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Bristol provides valuable insights into the varying tax landscape across Liberty County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristol Tax Rate
1.20%
Average Liberty County Tax Rate
1.20%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | 0.35% | 0.67% | 1.20% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Bristol, Florida
In Bristol, 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 Liberty 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 Bristol, 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 Bristol helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bristol is $55,886, with tax bills ranging from $263 at the 25th percentile to $2,182 at the 90th percentile. The zip code 32321 has the highest median tax bill at $524.
Average Bristol Assessed Value
$55,886
Average Liberty County Assessed Value
$47,685
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | $13,200 | $24,418 | $55,886 | $121,194 | $193,407 |
Source: Ownwell
Property Tax Bills Across Bristol, Florida
Property tax bills in Bristol, Liberty County, FL, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the home, which in Bristol has a median home price of $55,886. Local tax authorities then apply the property tax rate to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Bristol, the property tax bills vary significantly. For instance, the 25th percentile tax bill is $263, while the 75th percentile tax bill reaches $1,272, and the 90th percentile tax bill can go up to $2,182. The highest median tax bill in the area is $524, which is notably lower than the national median property tax rate of 0.99%. For homeowners, these property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Understanding how these bills are calculated can help homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Bristol Tax Bill
$524
Average Liberty County Tax Bill
$460
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristol, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32321 | $131 | $263 | $524 | $1,272 | $2,182 |
Source: Ownwell