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Bay Harbor Islands, Miami-dade County, Florida Property Taxes

  • Median Bay Harbor Islands, FL effective property tax rate: 1.56%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median Bay Harbor Islands, FL home value: $399,242

  • Median annual Bay Harbor Islands, FL tax bill: $5,321, $2,921 higher than the national median property tax bill of $2,400.

How are property taxes in Miami-Dade calculated?

Property taxes in Bay Harbor Islands, 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 Bay Harbor Islands’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bay Harbor Islands, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bay Harbor Islands, Miami-dade County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.56%

Estimate Property Tax Bill

$6,228

$5,780

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Bay Harbor Islands Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bay Harbor Islands with just two data points. By entering your property's estimated assessed value, our calculator applies Bay Harbor Islands’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Miami-Dade County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bay Harbor Islands, Miami-dade County, Florida

Local government entities in Florida, like elsewhere, set property tax rates that can differ significantly across regions. This variation arises because each county, such as Miami-Dade, calculates its required budget to fund local services. This budget is then divided by the total assessed value of all taxable properties within the county, resulting in the property tax rate. While votes and legislation play a role in determining these rates and budgets, this budgetary process is the crux of how property tax rates are established annually.

For instance, Bay Harbor Islands in Miami-Dade County has an effective property tax rate of 1.56%, which is notably higher than the national median of 1.02%. This places it among the areas with the highest property tax rates in Florida. When compared to other cities across Florida and the U.S., Bay Harbor Islands stands out for its relatively high property tax rate. Understanding these differences can help property owners in Bay Harbor Islands make informed decisions about appealing their property taxes or seeking exemptions.

Property Tax Rates Across Bay Harbor Islands, Miami-dade County, Florida

Source: Ownwell

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0.70%

1.45%

2.21%

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 Bay Harbor Islands Tax Rate

1.56%

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 Miami-dade County Tax Rate

1.41%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bay Harbor Islands, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
331540.47%1.00%1.56%1.72%1.83%

Source: Ownwell

Property Tax Assessment Values Across Bay Harbor Islands, Miami-dade County, Florida

When examining property taxes in Bay Harbor Islands, FL, 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 Miami-Dade County Property Appraiser 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 Miami-Dade County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Bay Harbor Islands. For example, the median home price in Bay Harbor Islands is $399,242, with tax bills ranging significantly across the county. Zip code 33154 has the highest median home price at $399,242.

Property Tax Assessment Values Across Bay Harbor Islands, Miami-dade County, Florida

Source: Ownwell

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$160,056

$16,966,420

$33,772,783

Median Bay Harbor Islands Market Value

$399,242

Median Miami-dade County Market Value

$372,000

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bay Harbor Islands, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33154$211,355$249,394$399,242$733,954$1,681,007

Source: Ownwell

Property Tax Bills Across Bay Harbor Islands, Miami-dade County, Florida

In Bay Harbor Islands, Miami-Dade County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $399,242. The tax bill for homeowners can vary significantly, with the 25th percentile at $3,373 and the 75th percentile reaching $10,792. For those at the 90th percentile, the tax bill can be as high as $19,093. These figures are notably higher than the national median property tax bill of $2,400, highlighting the potential financial burden on homeowners in this region. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially reducing these hefty bills. By analyzing market data and comparable properties, Ownwell identifies opportunities for lowering the assessed value, helping homeowners save significantly on their property taxes.

Property Tax Bills Across Bay Harbor Islands, Miami-dade County, Florida

Source: Ownwell

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$1,863

$228,510

$455,156

Median Bay Harbor Islands Tax Bill

$5,321

Median Miami-dade County Tax Bill

$4,524

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Bay Harbor Islands, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33154$1,856$3,373$5,321$10,792$19,093

Source: Ownwell

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