Newfound Harbor Keys, Florida Property Taxes
The median property tax rate in Newfound Harbor Keys, FL is 0.66%, considerably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Newfound Harbor Keys at $607,719, the typical annual property tax bill reaches $3,260, surpassing the national median of $2,690. Property taxes in Newfound Harbor Keys 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 Newfound Harbor Keys' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Newfound Harbor Keys 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
Newfound Harbor Keys, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$4,011
$3,722
Ownwell’s Newfound Harbor Keys Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newfound Harbor Keys with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newfound Harbor Keys to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Newfound Harbor Keys, Florida
Property taxes in Newfound Harbor Keys, Florida, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Newfound Harbor Keys is 0.66%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Newfound Harbor Keys set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newfound Harbor Keys 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 Newfound Harbor Keys' effective property tax rate to other counties in Florida and the national median. For comparison, the highest median property tax rate in the state is found in Monroe County. Understanding how these figures compare with Newfound Harbor Keys provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newfound Harbor Keys Tax Rate
0.66%
Average Monroe County Tax Rate
0.65%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newfound Harbor Keys, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Newfound Harbor Keys, Florida
In Newfound Harbor Keys, 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 Monroe 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 Newfound Harbor Keys, 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 Newfound Harbor Keys helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $607,719, with annual tax bills ranging from $2,847 at the 25th percentile to $4,666 at the 90th percentile.
Property Tax Assessment Values Across Newfound Harbor Keys, Florida
Source: Ownwell
$44,206
$2,079,812
$4,115,418
Average Newfound Harbor Keys Assessed Value
$607,719
Average Monroe County Assessed Value
$759,247
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newfound Harbor Keys, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Newfound Harbor Keys, Florida
In Newfound Harbor Keys, Monroe County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. For homeowners in this area, property tax rates and bills can vary significantly. The median home price in Newfound Harbor Keys is $607,719, which influences the overall tax bill. Homeowners in the 25th percentile can expect to pay around $2,847 in property taxes, while those in the 75th percentile may see bills closer to $4,108. At the 90th percentile, property tax bills can reach up to $4,666. These figures highlight the range of property tax liabilities homeowners might face. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, thereby impacting the tax bill. Understanding these variables is crucial for homeowners to anticipate their property tax obligations and manage their financial planning effectively.
Average Newfound Harbor Keys Tax Bill
$3,260
Average Monroe County Tax Bill
$4,638
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Newfound Harbor Keys, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
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 |