Altoona, Marion County, Florida Property Taxes
Median Altoona, FL effective property tax rate: 1.75%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Altoona, FL home value: $52,638
Median annual Altoona, FL tax bill: $737, $1,663 lower than the national median property tax bill of $2,400.
How are property taxes in Marion calculated?
Property taxes in Altoona, 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 Altoona’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Altoona, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Altoona, Marion County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.75%
Estimate Property Tax Bill
$921
$855
Property Tax Rates Across Altoona, Marion County, Florida
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Altoona, located in Marion County, Florida, the effective property tax rate is a key consideration for property owners. When compared to other cities in Florida, Altoona's tax rate reflects the county's budgetary needs and property values. The median property tax rate in Florida stands at 1.75%, which is higher than the national median of 1.02%. This indicates that property owners in Altoona may experience higher property tax bills compared to the national average. Understanding these rates is crucial for homeowners planning their finances and considering property investments.
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 Altoona Tax Rate
1.75%
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 Marion County Tax Rate
1.04%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Altoona, Marion County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32702 | 0.71% | 0.92% | 1.75% | 2.40% | 3.19% |
Source: Ownwell
Property Tax Assessment Values Across Altoona, Marion County, Florida
When examining property taxes in Altoona, FL, 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 Marion 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 Marion 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 Altoona.
For example, the median home price in Altoona is $52,638, with tax bills ranging significantly across the county. Zip code 32702 has the highest median home price at $52,638.
Property Tax Assessment Values Across Altoona, Marion County, Florida
Source: Ownwell
$47,814
$154,461
$261,107
Median Altoona Market Value
$52,638
Median Marion County Market Value
$176,469
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Altoona, Marion County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32702 | $16,878 | $25,730 | $52,638 | $102,257 | $181,791 |
Source: Ownwell
Property Tax Bills Across Altoona, Marion County, Florida
Median Altoona Tax Bill
$737
Median Marion County Tax Bill
$1,725
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Altoona, Marion County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32702 | $302 | $518 | $737 | $1,224 | $2,422 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Marion Property Appraiser | |
| Website | www.pa.marion.fl.us |