Ocala, Florida Property Taxes
The median property tax rate in Ocala, FL is 1.00%, just above the national median of 0.99% but below Florida's state median of 1.14%. With a median home value of $183,342 in Ocala, the typical annual property tax bill amounts to $1,851, which is significantly lower than the national median of $2,690. Property taxes in Ocala are based on the assessed value, often lower than market value due to exemptions such as those for primary residences and agricultural properties. By understanding Ocala's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you reside in the heart of Ocala or its surrounding areas, gaining insight into the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Ocala, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,833
$1,701
Ownwell’s Ocala Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocala with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocala 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 Ocala, Florida
Property taxes in Ocala, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ocala is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Ocala set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocala 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 Ocala's effective property tax rate to other areas in Marion County and the national median. For comparison, the 34488 zip code has the highest median property tax rate of 2.01%, while the 34479 zip code has the lowest median tax rate of 0.84%. Understanding how these areas compare with Ocala 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 Ocala Tax Rate
1.00%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ocala, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34470 | 0.50% | 0.62% | 0.94% | 1.61% | 1.87% |
| 34471 | 0.51% | 0.67% | 0.99% | 1.53% | 1.77% |
| 34472 | 0.57% | 0.67% | 1.07% | 1.66% | 1.92% |
| 34473 | 0.52% | 0.66% | 1.05% | 1.61% | 1.89% |
| 34474 | 0.58% | 0.77% | 1.14% | 1.67% | 1.85% |
| 34475 | 0.53% | 0.67% | 1.13% | 1.78% | 2.06% |
| 34476 | 0.55% | 0.70% | 0.93% | 1.45% | 1.69% |
| 34479 | 0.53% | 0.61% | 0.84% | 1.49% | 1.76% |
| 34480 | 0.58% | 0.74% | 1.04% | 1.58% | 1.85% |
| 34481 | 0.49% | 0.64% | 1.00% | 1.46% | 1.72% |
| 34482 | 0.56% | 0.69% | 1.06% | 1.60% | 1.87% |
| 34488 | 1.88% | 2.00% | 2.01% | 2.04% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Ocala, Florida
In Ocala, 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 Marion County Appraisal District 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 Ocala, 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 highest median tax bill in Ocala is $3,163 in the 34488 zip code, while the lowest median tax bill is $1,071 in the 34475 zip code. Being aware of these valuation processes in Ocala helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ocala Assessed Value
$183,342
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 Ocala, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34470 | $70,391 | $101,432 | $148,380 | $207,631 | $256,937 |
| 34471 | $96,390 | $157,833 | $231,045 | $334,745 | $480,906 |
| 34472 | $76,031 | $127,348 | $160,080 | $192,136 | $242,839 |
| 34473 | $101,910 | $156,744 | $197,208 | $233,272 | $276,014 |
| 34474 | $76,226 | $126,168 | $192,354 | $262,914 | $327,596 |
| 34475 | $31,168 | $56,425 | $106,336 | $177,570 | $321,583 |
| 34476 | $118,131 | $166,494 | $219,647 | $271,192 | $331,139 |
| 34479 | $103,449 | $132,726 | $160,294 | $201,242 | $278,643 |
| 34480 | $80,154 | $154,739 | $207,378 | $309,230 | $487,552 |
| 34481 | $97,884 | $123,580 | $177,277 | $262,976 | $356,374 |
| 34482 | $55,000 | $113,793 | $182,330 | $283,035 | $417,490 |
| 34488 | $114,750 | $114,750 | $157,080 | $188,572 | $201,807 |
Source: Ownwell
Property Tax Bills Across Ocala, Florida
In Ocala, property tax bills are calculated based on the assessed value of a homeowner's property, which is determined by the Marion County Property Appraiser's Office. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Ocala is $183,342, and the tax bills can vary significantly depending on the property's assessed value and location within the city. For instance, in Ocala, the tax bill at the 25th percentile is $1,016, while at the 75th percentile, it rises to $2,906. At the 90th percentile, homeowners can expect to pay around $4,076. The highest median tax bill in the area is $3,163, found in the 34488 zip code, whereas the lowest median tax bill is $1,071 in the 34475 zip code. These variations can significantly impact homeowners, influencing their overall cost of living and potentially affecting property values and market conditions within the city.
Average Ocala Tax Bill
$1,851
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Ocala, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34470 | $588 | $814 | $1,437 | $2,261 | $3,205 |
| 34471 | $724 | $1,270 | $2,304 | $3,745 | $5,625 |
| 34472 | $765 | $1,011 | $1,666 | $2,484 | $3,142 |
| 34473 | $806 | $1,211 | $2,035 | $3,039 | $3,682 |
| 34474 | $710 | $1,189 | $2,109 | $3,190 | $4,309 |
| 34475 | $387 | $650 | $1,071 | $2,148 | $3,433 |
| 34476 | $779 | $1,295 | $2,094 | $3,071 | $4,136 |
| 34479 | $744 | $895 | $1,515 | $2,281 | $3,084 |
| 34480 | $783 | $1,252 | $2,251 | $3,558 | $5,486 |
| 34481 | $587 | $834 | $1,773 | $2,961 | $4,183 |
| 34482 | $618 | $961 | $1,832 | $3,042 | $4,749 |
| 34488 | $2,306 | $2,309 | $3,163 | $3,853 | $4,064 |
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 |