Not Applicable, Florida Property Taxes
The median property tax rate in Marion County, FL is 1.07%, slightly higher than the national median of 0.99% but lower than Florida's state median of 1.14%. With a median home value of $206,360 in Marion County, the typical annual property tax bill amounts to $2,218, which is below the national median of $2,690. Property taxes in Marion County are based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Marion County'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 Marion County or another part of the region, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Not Applicable, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,208
$2,088
Ownwell’s Marion County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion County with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion County 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 Not Applicable, Florida
Property taxes in Marion County, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion County is 0.94%, which is lower than the Florida state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Marion County set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion County 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 Marion County's effective property tax rate to other counties in Florida and the national median. For comparison, the highest median property tax rate in Florida is 1.12% in Alachua County, while the lowest median tax rate is 0.69% in Walton County. Understanding how these counties compare with Marion County provides valuable insights into the varying tax landscape across Florida, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Not Applicable Tax Rate
1.07%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Not Applicable, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Not Applicable, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Marion County, 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 local appraisal authorities 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 Marion County, 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. The median home price in the county is $206,360, with tax bills ranging from $2,218 at the 25th percentile to $2,218 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Not Applicable Assessed Value
$206,360
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 Not Applicable, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Not Applicable, Florida
In Marion County, FL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county property appraiser and typically reflects a percentage of the property's market value. Homeowners in Marion County can expect a median home price of $206,360. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local taxing authorities. In Marion County, the tax bill for the 25th, 75th, and 90th percentiles all stand at $2,218, indicating a relatively consistent tax burden across various property values. Compared to the national median property tax rate of 0.99%, homeowners in Marion County may find their tax rates and bills to be competitive. Understanding these elements helps homeowners anticipate their financial obligations and plan accordingly.
Average Not Applicable Tax Bill
$2,218
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Not Applicable, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
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 |