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North Bay Village, Miami-dade County, Florida Property Taxes

Median North Bay Village, FL effective property tax rate: 1.89%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%. Median North Bay Village, FL home value: $301,546. Median annual North Bay Village, FL tax bill: $4,897, $2,497 higher than the national median property tax bill of $2,400.

How are property taxes in Miami-Dade calculated?

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

Last Updated March 1, 2025

North Bay Village, Miami-dade County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.89%

Estimate Property Tax Bill

$5,699

$5,289

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s North Bay Village Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in North Bay Village with just two data points.

By entering your property's estimated assessed value, our calculator applies North Bay Village’s 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 North Bay Village, Miami-dade County, Florida

Local government entities in Florida set tax rates, and these can vary significantly within the state. Each year, counties like Miami-Dade estimate the budget required to provide essential services. This budget is then divided by the total value of all taxable property in the area, resulting in the county’s property tax rate. While the process involves votes and legal considerations, this is essentially how property tax rates are determined annually.

In North Bay Village, located in Miami-Dade County, the effective property tax rate stands out when compared to other cities in Florida. Notably, North Bay Village’s rate is higher than both the state and national medians. With the national median property tax rate at 1.02%, homeowners in North Bay Village face a significant difference. This disparity highlights the importance of understanding regional tax obligations and exploring potential savings through property tax appeals or exemptions. Engaging with property tax consulting services can be a strategic move for homeowners in North Bay Village, ensuring they are not overpaying and are maximizing their savings.

Property Tax Rates Across North Bay Village, 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 North Bay Village Tax Rate

1.89%

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 North Bay Village, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
331410.69%1.34%1.89%1.99%2.21%

Source: Ownwell

Property Tax Assessment Values Across North Bay Village, Miami-dade County, Florida

When examining property taxes in North Bay Village, 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 North Bay Village.

For example, the median home price in North Bay Village is $301,546, with tax bills ranging significantly across the county. Zip code 33141 has the highest median home price at $301,546.

Property Tax Assessment Values Across North Bay Village, Miami-dade County, Florida

Source: Ownwell

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$160,056

$16,966,420

$33,772,783

Median North Bay Village Market Value

$301,546

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 North Bay Village, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33141$151,320$189,980$301,546$420,577$693,815

Source: Ownwell

Property Tax Bills Across North Bay Village, Miami-dade County, Florida

In North Bay Village, Miami-Dade County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property appraiser. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in this area experience a median property tax bill of $4,897, significantly higher than the national median of $2,400. This discrepancy is largely due to the region's property values and local tax rates. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, impacting the tax bill. For homeowners, these taxes can represent a substantial financial burden, especially when the tax bill reaches the 90th percentile at $10,892. Ownwell can assist homeowners by providing expert property tax appeal services, potentially lowering their assessed values and, consequently, their tax bills. By leveraging local expertise and a deep understanding of tax laws, Ownwell aims to help homeowners achieve significant savings on their property taxes.

Property Tax Bills Across North Bay Village, Miami-dade County, Florida

Source: Ownwell

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$1,863

$228,510

$455,156

Median North Bay Village Tax Bill

$4,897

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 North Bay Village, Miami-dade County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33141$2,077$3,115$4,897$7,259$10,892

Source: Ownwell

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