Canal Point, Martin County, Florida Property Taxes
Median Canal Point, FL effective property tax rate: 1.18%, slightly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Canal Point, FL home value: $208,250
Median annual Canal Point, FL tax bill: $1,845, $555 lower than the national median property tax bill of $2,400.
How are property taxes in Martin calculated?
Property taxes in Canal Point, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Canal Point’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Canal Point, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Canal Point, Martin County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.18%
Estimate Property Tax Bill
$2,457
$2,280
Property Tax Rates Across Canal Point, Martin County, Florida
Local government entities determine tax rates, which can vary significantly within a state. This variation arises because each county annually estimates its budgetary needs to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Canal Point, located in Martin County, Florida, the effective property tax rate can be compared to other cities in Florida and the median property tax rates in both Florida and the U.S. While the national median property tax rate is 1.02%, the effective rate in Canal Point is slightly higher. This comparison highlights the importance of understanding local property tax rates, as they can have a significant impact on homeowners' financial responsibilities. By being informed about these rates, homeowners can better plan their finances and potentially identify opportunities for tax savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Canal Point Tax Rate
1.18%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Martin County Tax Rate
1.13%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Canal Point, Martin County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33438 | 0.64% | 0.87% | 1.18% | 1.49% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Canal Point, Martin County, Florida
When examining property taxes in Canal Point, Florida, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Martin County Property Appraiser's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Martin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Canal Point. For example, the median home price in Canal Point is $208,250, with tax bills ranging significantly across the county. Zip code 33438 has the highest median home price at $208,250.
Property Tax Assessment Values Across Canal Point, Martin County, Florida
Source: Ownwell
$134,070
$733,900
$1,333,730
Median Canal Point Market Value
$208,250
Median Martin County Market Value
$294,470
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Canal Point, Martin County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33438 | $98,050 | $176,530 | $208,250 | $214,870 | $286,680 |
Source: Ownwell
Property Tax Bills Across Canal Point, Martin County, Florida
Median Canal Point Tax Bill
$1,845
Median Martin County Tax Bill
$3,260
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Canal Point, Martin County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33438 | $1,242 | $1,384 | $1,845 | $3,234 | $3,958 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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