Jupiter Island, Florida Property Taxes
The median property tax rate in Jupiter Island, FL is 1.38%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Jupiter Island, the typical annual property tax bill reaches $63,207, exceeding the national median of $2,690. Property taxes in Jupiter Island are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jupiter Island'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 Jupiter Island 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
Jupiter Island, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$78,897
$74,666
Ownwell’s Jupiter Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jupiter Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jupiter Island 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 Jupiter Island, Florida
Property taxes in Jupiter Island, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jupiter Island is 1.38%, significantly higher than both the Florida state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Jupiter Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jupiter Island 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 Jupiter Island's effective property tax rate to other counties in Florida and the national median. For comparison, the 33455 zip code has both the highest and lowest median property tax rate of 1.38%. Understanding how these cities compare with Jupiter Island 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 Jupiter Island Tax Rate
1.38%
Average Martin County Tax Rate
1.13%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jupiter Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | 0.68% | 1.17% | 1.38% | 1.52% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Jupiter Island, Florida
In Jupiter Island, 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 Jupiter Island, 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. For instance, in zip code 33455, the median tax bill is $63,207. 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 Jupiter Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Jupiter Island, Florida
Source: Ownwell
$37,370
$8,127,435
$16,217,500
Average Jupiter Island Assessed Value
$5,717,170
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 Jupiter Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | $3,631,838 | $4,354,930 | $5,717,170 | $8,366,680 | $12,596,188 |
Source: Ownwell
Property Tax Bills Across Jupiter Island, Florida
In Jupiter Island, Martin County, FL, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the market value of the home. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Jupiter Island can expect significant property tax bills, given the high median home price of $5,717,170. The tax bill at the 25th percentile is $53,437, while at the 75th percentile, it reaches $106,252. For those at the 90th percentile, the tax bill can be as high as $167,204. These figures are notably higher compared to the national median property tax rate of 0.99%, reflecting the premium real estate market in this area. Consequently, property taxes can significantly impact homeowners, especially those with higher-valued properties.
Average Jupiter Island Tax Bill
$63,207
Average Martin County Tax Bill
$3,260
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Jupiter Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33455 | $39,752 | $53,437 | $63,207 | $106,252 | $167,204 |
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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