Long Key, Monroe County, Florida Property Taxes
Median Key West, Florida effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Key West, Florida home value: $586,701
Median annual Key West, Florida tax bill: $3,610, $1,210 higher than the national median property tax bill of $2,400.
How are property taxes in Monroe calculated?
Property taxes in Key West, Florida 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 Key West’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Key West, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Long Key, Monroe County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.71%
Estimate Property Tax Bill
$4,166
$3,866
Property Tax Rates Across Long Key, Monroe County, Florida
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 Long Key Tax Rate
0.71%
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 Monroe County Tax Rate
0.65%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Long Key, Monroe County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33001 | 0.50% | 0.64% | 0.71% | 0.75% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Long Key, Monroe County, Florida
When examining property taxes in Long Key, Florida, 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 Monroe 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 Monroe 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 Long Key. For example, the median home price in Long Key is $586,701, with tax bills ranging significantly across the county. 33001 has the highest median home price at $586,701.
Property Tax Assessment Values Across Long Key, Monroe County, Florida
Source: Ownwell
$284,170
$969,398
$1,654,626
Median Long Key Market Value
$586,701
Median Monroe County Market Value
$759,247
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Long Key, Monroe County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33001 | $269,620 | $324,116 | $586,701 | $812,935 | $982,369 |
Source: Ownwell
Property Tax Bills Across Long Key, Monroe County, Florida
In the city of Long Key in Monroe County, Florida, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. Homeowners in this area experience a range of property tax bills, from the 25th percentile at $2,277 to the 90th percentile at $7,489, with the highest and lowest median tax bill both at $3,610 in the zip code 33001. These figures indicate that while some homeowners pay below the national median property tax bill of $2,400, others face significantly higher bills. Factors such as property improvements and local tax rates contribute to these variations, impacting homeowners' annual expenses.
Ownwell assists homeowners by offering property tax appeal services, helping to potentially lower these bills. By analyzing property assessments and identifying discrepancies, Ownwell can guide homeowners through the appeal process, ensuring they are not overpaying. This service can be particularly beneficial for those in higher tax brackets, providing peace of mind and potential savings.
Median Long Key Tax Bill
$3,610
Median Monroe County Tax Bill
$4,638
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Long Key, Monroe County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33001 | $1,925 | $2,277 | $3,610 | $5,356 | $7,489 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Monroe Property Appraiser | |
| Website | qpublic.schneidercorp.com |