Orange Lake, Florida Property Taxes
The median property tax rate in Orange Lake, FL is 3.23%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Orange Lake, the typical annual property tax bill reaches $517, significantly lower than the national median of $2,690. Property taxes in Orange Lake 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 Orange Lake'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 Orange Lake 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
Orange Lake, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.23%
Estimate Property Tax Bill
$517
$489
Ownwell’s Orange Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orange Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orange Lake 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 Orange Lake, Florida
Property taxes in Orange Lake, Florida, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Orange Lake is 3.23%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Orange Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orange Lake 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 Orange Lake's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 32681 has the highest median property tax rate of 3.23%, while the lowest median tax rate is also 3.23%, indicating uniformity in this region. Understanding how these areas compare with Orange Lake 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 Orange Lake Tax Rate
3.23%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orange Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32681 | 3.23% | 3.23% | 3.23% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Orange Lake, Florida
In Orange Lake, 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 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 Orange Lake, 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 Orange Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 32681 has the highest and lowest median tax bill at $517, reflecting a uniform tax scenario across the area.
Average Orange Lake Assessed Value
$15,992
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 Orange Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32681 | $15,992 | $15,992 | $15,992 | $15,992 | $15,992 |
Source: Ownwell
Property Tax Bills Across Orange Lake, Florida
In Orange Lake, located 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 assessor and reflects the property's market value. Homeowners in Orange Lake face a median property tax bill of $517, which is consistent across the 25th, 75th, and 90th percentiles, indicating a uniform tax burden in this area. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. This uniformity suggests that properties in Orange Lake have similar assessed values or that the tax rate is applied consistently across different property values. Compared to the national median property tax rate of 0.99%, Orange Lake's tax rate may seem favorable, offering homeowners a predictable and manageable tax expense. This stability in property tax bills can provide financial predictability, making it easier for homeowners to budget and plan their finances.
Average Orange Lake Tax Bill
$517
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Orange Lake, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32681 | $517 | $517 | $517 | $517 | $517 |
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 |