Biscayne Park, Florida Property Taxes
The median property tax rate in Biscayne Park, FL is 1.39%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Biscayne Park, the typical annual property tax bill reaches $8,909, exceeding the national median of $2,690. Property taxes in Biscayne Park 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 Biscayne Park'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 Biscayne Park 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
Biscayne Park, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$8,771
$8,301
$1,148
Average Biscayne Park, Florida Tax Savings
Ownwell’s Biscayne Park Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Biscayne Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Biscayne Park to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Biscayne Park. 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 Miami-Dade County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Biscayne Park, Florida
Property taxes in Biscayne Park, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biscayne Park is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Biscayne Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biscayne Park 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 Biscayne Park's effective property tax rate to other areas in Miami-Dade County and the national median. For comparison, the 33161 zip code has the highest median property tax rate of 1.39%, while the same zip code, 33161, also has the lowest median tax rate of 1.39%. Understanding how these areas compare with Biscayne Park provides valuable insights into the varying tax landscape across Miami-Dade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Biscayne Park Tax Rate
1.39%
Average Miami-dade County Tax Rate
1.41%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biscayne Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33161 | 0.55% | 0.76% | 1.39% | 2.09% | 2.51% |
Source: Ownwell
$1,148
Average Biscayne Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Biscayne Park, Florida
In Biscayne Park, 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 Miami-Dade 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 Biscayne Park, 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 Biscayne Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 33161, amounting to $8,909.
Property Tax Assessment Values Across Biscayne Park, Florida
Source: Ownwell
$160,056
$16,966,420
$33,772,783
Average Biscayne Park Assessed Value
$631,017
Average Miami-dade County Assessed Value
$372,000
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Biscayne Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33161 | $484,720 | $548,480 | $631,017 | $741,366 | $920,621 |
Source: Ownwell
$1,148
Average Biscayne Park Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Biscayne Park, Florida
In Biscayne Park, Miami-Dade County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the Miami-Dade Property Appraiser. The tax rate is applied to this assessed value, resulting in the annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. For example, with a median home price of $631,017, homeowners in Biscayne Park can expect tax bills ranging from $5,042 at the 25th percentile to $16,668 at the 90th percentile. This is significantly higher than the national median property tax rate of 0.99%. High property taxes can be a burden for homeowners, but Ownwell can help. By providing expert property tax appeal and exemption services, Ownwell ensures that your property is fairly assessed, potentially reducing your tax bill. Our team reviews your property's assessment, identifies discrepancies, and files appeals on your behalf, helping you save money and ensuring you pay only your fair share.
Average Biscayne Park Tax Bill
$8,909
Average Miami-dade County Tax Bill
$4,524
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Biscayne Park, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33161 | $3,319 | $5,042 | $8,909 | $12,721 | $16,668 |
Source: Ownwell
$1,148
Average Biscayne Park Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 17 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Miami-Dade Property Appraiser | |
| Phone | (305) 375-4050 |
| Website | www.miamidade.gov |
| mdcpa@mdcpa.net | |
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