Tavernier, Florida Property Taxes
The median property tax rate in Tavernier, FL is 0.68%, which is significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $695,551 in Tavernier, the typical annual property tax bill amounts to $4,475, surpassing the national median of $2,690. Property taxes in Tavernier are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tavernier'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 Tavernier or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tavernier, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$4,730
$4,472
Ownwell’s Tavernier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tavernier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tavernier 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 Monroe County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tavernier, Florida
Property taxes in Tavernier, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tavernier is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Tavernier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tavernier 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 Tavernier's effective property tax rate to other counties in Florida and the national median. For comparison, the 33070 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Tavernier 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 Tavernier Tax Rate
0.68%
Average Monroe County Tax Rate
0.65%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tavernier, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | 0.33% | 0.51% | 0.68% | 0.78% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Tavernier, Florida
In Tavernier, 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. Assessment notices in Tavernier 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 Tavernier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tavernier is $695,551, with the 25th percentile tax bill at $3,158 and the 75th percentile tax bill at $7,099. The highest and lowest median tax bills are both $4,475 in the zip code 33070.
Average Tavernier Assessed Value
$695,551
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 Tavernier, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | $364,053 | $515,152 | $695,551 | $1,206,265 | $1,804,922 |
Source: Ownwell
Property Tax Bills Across Tavernier, Florida
In Tavernier, located in Monroe County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions play a crucial role in calculating the final amount. Homeowners in Tavernier experience varying tax bills, with the 25th percentile paying around $3,158 and the 75th percentile facing bills up to $7,099. For those at the 90th percentile, tax bills can reach as high as $10,430. The median home price in this area is $695,551, which significantly influences the tax amounts. Compared to the national median property tax rate of 0.99%, Tavernier's property taxes can vary widely, affecting homeowners differently based on their property's assessed value. Understanding these factors is essential for homeowners to anticipate their annual tax obligations accurately.
Average Tavernier Tax Bill
$4,475
Average Monroe County Tax Bill
$4,638
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Tavernier, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | $2,117 | $3,158 | $4,475 | $7,099 | $10,430 |
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 |