Eastlake Weir, Florida Property Taxes
The median property tax rate in Eastlake Weir, FL is 1.32%, which is considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Eastlake Weir at $144,300, the typical annual property tax bill reaches $1,453, exceeding the national median of $2,690. Property taxes in Eastlake Weir are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eastlake Weir'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 Eastlake Weir or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastlake Weir, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,905
$1,801
Ownwell’s Eastlake Weir Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastlake Weir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastlake Weir 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 Eastlake Weir, Florida
Property taxes in Eastlake Weir, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastlake Weir is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Eastlake Weir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastlake Weir 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 Eastlake Weir's effective property tax rate to other counties in Florida and the national median. For comparison, the 32133 zip code has both the highest and lowest median property tax rate of 1.32%. Understanding how these cities compare with Eastlake Weir provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastlake Weir Tax Rate
1.32%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastlake Weir, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32133 | 0.66% | 0.91% | 1.32% | 1.83% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Eastlake Weir, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eastlake Weir, Florida. 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 Marion 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. 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. For instance, the median home price in Eastlake Weir is $144,300, with tax bills ranging from $912 at the 25th percentile to $8,662 at the 90th percentile. The highest and lowest median tax bills, both at $1,453, are found in the 32133 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eastlake Weir Assessed Value
$144,300
Average Marion County Assessed Value
$176,469
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastlake Weir, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32133 | $52,329 | $76,001 | $144,300 | $195,113 | $586,817 |
Source: Ownwell
Property Tax Bills Across Eastlake Weir, Florida
Property tax bills in Eastlake Weir, located in Marion County, FL, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $144,300, homeowners in Eastlake Weir can expect varying tax bills. The 25th percentile tax bill is around $912, while the 75th percentile tax bill is approximately $2,661. The highest tax bills, in the 90th percentile, can reach up to $8,662. Several factors influence the assessed value, such as the property's market value, improvements made, and comparable sales in the area. Homeowners should be aware that these assessments and resulting tax bills can significantly impact their annual financial planning. Compared to the national median property tax rate of 0.99%, Eastlake Weir's tax rates can vary, influencing how much residents ultimately pay. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Eastlake Weir Tax Bill
$1,453
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastlake Weir, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32133 | $604 | $912 | $1,453 | $2,661 | $8,662 |
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 |