Martin County Property Taxes
The median property tax rate in Martin County is 1.13%, which is higher than the national median of 0.99% but slightly lower than the Florida state median of 1.14%. With a median home value of $294,470, the typical annual property tax bill in Martin County is approximately $3,260, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Martin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you reside in Stuart or another part of Martin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Martin County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$3,328
$3,145
Ownwell’s Martin County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Martin County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Martin County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Martin County, Florida
Property taxes in Martin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Martin County is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Martin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Martin County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Martin County's effective property tax rate with other counties in Florida and the national median. For comparison, the city of Ocean Breeze has one of the higher property tax rates in Florida at 1.68%, while the city of Okeechobee boasts one of the lowest at 1.02%. Analyzing how Martin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Martin County Tax Rate
1.13%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martin County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Canal Point | 0.64% | 0.87% | 1.18% | 1.49% | 1.63% |
| Fort Pierce | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
| Hobe Sound | 0.59% | 0.81% | 1.09% | 1.57% | 1.74% |
| Hutchinson Island | 1.51% | 1.53% | 1.55% | 1.62% | 1.66% |
| Indiantown | 0.36% | 0.73% | 1.36% | 1.60% | 1.87% |
| Jensen Beach | 0.57% | 0.83% | 1.20% | 1.58% | 1.69% |
| Jupiter | 0.51% | 0.79% | 1.08% | 1.45% | 1.64% |
| Jupiter Island | 0.68% | 1.17% | 1.38% | 1.52% | 1.54% |
| Ocean Breeze | 1.68% | 1.68% | 1.68% | 1.68% | 1.68% |
| Okeechobee | 0.51% | 0.72% | 1.02% | 1.62% | 1.71% |
| Palm City | 0.67% | 0.84% | 1.05% | 1.40% | 1.63% |
| Sewalls Point | 0.77% | 0.90% | 1.10% | 1.31% | 1.44% |
| Stuart | 0.48% | 0.79% | 1.18% | 1.59% | 1.76% |
| Tequesta | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Martin County, Florida
In Martin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Martin County Appraisal District. The assessed value, however, 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 Martin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Ocean Breeze has the highest median tax bill at $272,459, while Indiantown has the lowest at $1,161. Being aware of these valuation processes in Martin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Martin County, Florida
Source: Ownwell
$37,370
$8,127,435
$16,217,500
Average Martin County Assessed Value
$294,470
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martin County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Canal Point | $98,050 | $176,530 | $208,250 | $214,870 | $286,680 |
| Fort Pierce | $406,890 | $406,890 | $406,890 | $406,890 | $406,890 |
| Hobe Sound | $100,810 | $173,890 | $317,830 | $473,360 | $951,118 |
| Hutchinson Island | $528,478 | $749,800 | $1,118,670 | $1,541,740 | $1,795,582 |
| Indiantown | $50,000 | $69,670 | $134,070 | $189,480 | $278,760 |
| Jensen Beach | $123,470 | $197,840 | $273,730 | $403,160 | $510,713 |
| Jupiter | $123,980 | $301,478 | $573,935 | $1,050,035 | $1,880,648 |
| Jupiter Island | $3,631,838 | $4,354,930 | $5,717,170 | $8,366,680 | $12,596,188 |
| Ocean Breeze | $16,217,500 | $16,217,500 | $16,217,500 | $16,217,500 | $16,217,500 |
| Okeechobee | $118,617 | $161,358 | $241,470 | $370,528 | $510,158 |
| Palm City | $197,124 | $272,430 | $432,670 | $582,690 | $766,028 |
| Sewalls Point | $286,273 | $378,182 | $531,365 | $684,548 | $776,457 |
| Stuart | $98,720 | $151,470 | $259,090 | $407,240 | $633,694 |
| Tequesta | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Martin County, Florida
In Martin County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county property appraiser. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, location, and any applicable exemptions, such as homestead exemptions for primary residences. For homeowners in Martin County, the tax bill can vary significantly. The 25th percentile tax bill is around $1,755, while those in the 75th percentile can expect to pay approximately $5,472. At the higher end, the 90th percentile tax bill reaches $8,836. These figures highlight the range of property tax burdens within the county. Comparatively, the national median property tax rate is 0.99%, making Martin County's tax rates relatively consistent with national trends. However, the impact on homeowners can be substantial, particularly for those with higher-valued properties or fewer exemptions, influencing their overall housing affordability and financial planning.
Average Martin County Tax Bill
$3,260
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Martin County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Canal Point | $1,242 | $1,384 | $1,845 | $3,234 | $3,958 |
| Fort Pierce | $5,042 | $5,042 | $5,042 | $5,042 | $5,042 |
| Hobe Sound | $892 | $1,835 | $3,299 | $5,648 | $11,533 |
| Hutchinson Island | $8,046 | $11,515 | $17,295 | $25,226 | $29,984 |
| Indiantown | $537 | $790 | $1,161 | $2,295 | $3,494 |
| Jensen Beach | $1,016 | $1,839 | $3,210 | $4,781 | $6,670 |
| Jupiter | $1,171 | $2,340 | $5,990 | $11,539 | $22,026 |
| Jupiter Island | $39,752 | $53,437 | $63,207 | $106,252 | $167,204 |
| Ocean Breeze | $272,459 | $272,459 | $272,459 | $272,459 | $272,459 |
| Okeechobee | $539 | $1,364 | $2,643 | $3,721 | $5,583 |
| Palm City | $1,652 | $2,793 | $4,522 | $6,647 | $9,217 |
| Sewalls Point | $3,654 | $4,010 | $4,604 | $5,197 | $5,554 |
| Stuart | $694 | $1,534 | $2,881 | $4,877 | $7,933 |
| Tequesta | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |