Hobe Sound, Florida Property Taxes
The median property tax rate in Hobe Sound, FL is 1.09%, slightly above the national median of 0.99% but below Florida's state median of 1.14%. With the median home value in Hobe Sound at $317,830, the typical annual property tax bill amounts to $3,299, surpassing the national median of $2,690. Property taxes in Hobe Sound are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hobe Sound'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 Hobe Sound 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
Hobe Sound, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$3,464
$3,215
Ownwell’s Hobe Sound Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobe Sound with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobe Sound 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 Hobe Sound, Florida
Property taxes in Hobe Sound, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobe Sound is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Hobe Sound set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobe Sound 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 Hobe Sound's effective property tax rate to other counties in Florida and the national median. For comparison, the 33455 zip code has the highest median property tax rate of 1.09%, while the 33455 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Hobe Sound provides valuable insights into the varying tax landscape across Martin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobe Sound Tax Rate
1.09%
Average Martin County Tax Rate
1.13%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobe Sound, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | 0.59% | 0.81% | 1.09% | 1.57% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Hobe Sound, Florida
In Hobe Sound, 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 Martin 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. In Hobe Sound, 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 Hobe Sound helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 33455 has the highest and lowest median tax bill, both at $3,299.
Property Tax Assessment Values Across Hobe Sound, Florida
Source: Ownwell
$37,370
$8,127,435
$16,217,500
Average Hobe Sound Assessed Value
$317,830
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 Hobe Sound, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | $100,850 | $174,250 | $317,900 | $473,445 | $951,236 |
Source: Ownwell
Property Tax Bills Across Hobe Sound, Florida
In Hobe Sound, property tax bills are calculated based on the assessed value of a home, which is determined by the Martin County Property Appraiser. The assessed value is then multiplied by the local millage rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's market value, location, and any applicable exemptions. For homeowners in Hobe Sound, the median home price is $317,830, leading to varying tax bills across the area. For instance, the 25th percentile tax bill is $1,835, while the 75th percentile reaches $5,648, and the 90th percentile hits $11,533. These figures show a significant range, reflecting differences in property values and exemptions among homeowners. Comparatively, the national median property tax rate is 0.99%, and Hobe Sound's tax rates can have a substantial impact on household budgets. Homeowners must consider these taxes when budgeting for homeownership, as the tax bill can represent a significant annual expense.
Average Hobe Sound Tax Bill
$3,299
Average Martin County Tax Bill
$3,260
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobe Sound, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | $893 | $1,836 | $3,299 | $5,648 | $11,535 |
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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