Oxford, Florida Property Taxes
The median property tax rate in Oxford, FL, is 1.16%, slightly higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $180,820 in Oxford, the typical annual property tax bill amounts to $2,216, which is below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oxford'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 Oxford 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
Oxford, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,098
$1,983
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Oxford, Florida
Property taxes in Oxford, Florida, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 1.16%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Florida and the national median. For comparison, the 34484 zip code has the highest median property tax rate of 1.16%, while the 34484 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Oxford 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 Oxford Tax Rate
1.16%
Average Marion County Tax Rate
1.04%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | 0.48% | 0.91% | 1.16% | 1.74% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oxford, 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 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. Assessment notices in Oxford 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Oxford, the median home price is $180,820, with the 25th percentile tax bill at $983 and the 75th percentile tax bill at $6,163. The highest median tax bill is $2,216, found in the 34484 zip code, which also has the lowest median tax bill.
Average Oxford Assessed Value
$180,820
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 Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | $44,044 | $61,810 | $180,820 | $470,031 | $722,957 |
Source: Ownwell
Property Tax Bills Across Oxford, Florida
In Oxford, located in Marion County, FL, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by the county assessor and is influenced by factors such as the property's market value, location, and any improvements made. The median home price in Oxford is $180,820, which provides a baseline for understanding local property tax bills. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For instance, homeowners in Oxford can expect a tax bill ranging from $983 at the 25th percentile to $6,163 at the 75th percentile, with the 90th percentile reaching up to $7,129. These values illustrate the variation in tax bills depending on the property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Oxford's tax rates can significantly impact homeowners, influencing their annual financial planning and overall cost of homeownership. Understanding these factors is crucial for residents to manage their property tax obligations effectively.
Average Oxford Tax Bill
$2,216
Average Marion County Tax Bill
$1,725
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34484 | $754 | $983 | $2,216 | $6,163 | $7,129 |
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 |