Oxford, Marion County, Florida Property Taxes

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Oxford’s effective property tax rate to other cities in Florida and the median property tax rates in Florida and the U.S.

Oxford, located in Marion County, has a property tax rate that aligns with the highest and lowest median rates in the area, reflecting a stable tax environment. Florida's median property tax rate is slightly above the national median of 1.02%, which can impact homeowners' annual bills. Understanding these rates is crucial for property owners when planning their finances and considering potential savings through appeals or exemptions. By comparing local rates with state and national figures, property owners can better assess their tax situation and explore ways to reduce their financial burden.

In Oxford, located in Marion County, Florida, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county property appraiser and reflects the market value of the property. Homeowners in Oxford face tax bills that vary significantly, with the 25th percentile at $983 and the 90th percentile reaching $7,129. The median tax bill in the area is $2,216, which is below the national median of $2,400, reflecting the relatively lower property tax burden in this region compared to the national average.

Factors influencing the tax bill include the property’s assessed value, local tax rates, and any applicable exemptions. High tax bills can impact homeowners by increasing the overall cost of homeownership. Ownwell offers property tax appeal and exemption services that can help homeowners in Oxford potentially reduce their property tax bills. By analyzing individual property assessments and identifying discrepancies or missed exemptions, Ownwell aids homeowners in achieving fairer tax bills, alleviating financial pressure.