Miami Springs, Florida Property Taxes
The median property tax rate in Miami Springs, FL is 1.19%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Miami Springs at $498,613, the typical annual property tax bill reaches $5,994, exceeding the national median of $2,690. Property taxes in Miami Springs 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 Miami Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Miami Springs 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
Miami Springs, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$5,933
$5,615
$1,148
Average Miami Springs, Florida Tax Savings
Ownwell’s Miami Springs Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Miami Springs using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miami Springs 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 Miami Springs. For those 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 Miami Springs, Florida
Property taxes in Miami Springs, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miami Springs is 1.19%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Miami Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miami Springs 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 Miami Springs' effective property tax rate to other counties in Florida and the national median. For comparison, the 33166 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Miami Springs 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 Miami Springs Tax Rate
1.19%
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 Miami Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33166 | 0.76% | 0.88% | 1.19% | 1.91% | 2.17% |
Source: Ownwell
$1,148
Average Miami Springs Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Miami Springs, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Miami Springs, FL. 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 Property Appraiser 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 Miami Springs, 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 Miami Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Miami Springs is $498,613, with tax bills ranging from $4,091 at the 25th percentile to $11,645 at the 90th percentile. The zip code 33166 has both the highest and lowest median tax bill at $5,994.
Property Tax Assessment Values Across Miami Springs, Florida
Source: Ownwell
$160,056
$16,966,420
$33,772,783
Average Miami Springs Assessed Value
$498,613
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 Miami Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33166 | $331,963 | $426,603 | $498,613 | $581,334 | $703,539 |
Source: Ownwell
$1,148
Average Miami Springs Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Miami Springs, Florida
In Miami Springs, located in Miami-Dade County, FL, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the county property appraiser and is influenced by factors such as the home's size, age, location, and condition. Homeowners in Miami Springs face varying tax bills, with the 25th percentile at $4,091 and the 75th percentile reaching $8,800. The highest median tax bill recorded in the area is $5,994. These tax bills can significantly impact homeowners, especially when considering that the national median property tax rate is 0.99%. High property taxes can strain budgets and affect the affordability of homeownership. Ownwell steps in to help homeowners reduce their property tax bills by providing expert property tax appeal and exemption services. By leveraging their knowledge and experience, Ownwell ensures homeowners pay only their fair share, potentially saving them thousands of dollars annually.
Average Miami Springs Tax Bill
$5,994
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 Miami Springs, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33166 | $3,103 | $4,091 | $5,994 | $8,800 | $11,645 |
Source: Ownwell
$1,148
Average Miami Springs 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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