Okaloosa County Property Taxes
The median property tax rate in Okaloosa County is 0.93%, which is slightly lower than the national median of 0.99% and significantly below the Florida state median of 1.14%. With the median home value in Okaloosa County at $253,315, the typical annual property tax bill amounts to $2,112, which is less than the national median of $2,690. Property taxes in Okaloosa County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions, such as the primary residence and agricultural exemptions. Understanding Okaloosa County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Fort Walton Beach or another part of Okaloosa County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okaloosa County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$2,356
$2,186
Ownwell’s Okaloosa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Okaloosa with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Okaloosa to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Okaloosa County, Florida
Property taxes in Okaloosa County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Okaloosa County is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Okaloosa County set these rates annually, and they can vary significantly between different areas within the county. Each year, Okaloosa County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Destin has one of the higher property tax rates in the region at 1.08%, while the city of Holt boasts one of the lowest at 0.58%. Analyzing how Okaloosa County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Okaloosa County Tax Rate
0.93%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okaloosa County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | 0.38% | 0.48% | 0.60% | 1.00% | 1.16% |
| Crestview | 0.41% | 0.52% | 0.80% | 1.15% | 1.46% |
| Destin | 0.54% | 0.83% | 1.08% | 1.17% | 1.21% |
| Fort Walton Beach | 0.41% | 0.57% | 1.08% | 1.25% | 1.35% |
| Ft Walton Bch | N/A | N/A | N/A | N/A | N/A |
| Ft Walton Beach | 0.49% | 0.77% | 0.78% | 1.16% | 1.38% |
| Holt | 0.32% | 0.44% | 0.58% | 1.02% | 1.13% |
| Laurel Hill | 0.33% | 0.48% | 0.64% | 1.06% | 1.29% |
| Mary Esther | 0.42% | 0.53% | 0.87% | 1.13% | 1.32% |
| Niceville | 0.43% | 0.58% | 0.78% | 1.15% | 1.22% |
| Shalimar | 0.45% | 0.59% | 0.78% | 1.16% | 1.19% |
| Valparaiso | 0.41% | 0.58% | 0.87% | 1.32% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Okaloosa County, Florida
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Okaloosa County. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Okaloosa Appraisal District. The assessed value, however, 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 Okaloosa County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. In Okaloosa County, the median home price is $253,315, with tax bills varying widely. For instance, homeowners in Destin face the highest median tax bill at $4,050, while those in Holt enjoy the lowest at $624. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Okaloosa County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Okaloosa County, Florida
Source: Ownwell
$104,350
$252,953
$401,555
Average Okaloosa County Assessed Value
$253,315
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okaloosa County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | $43,181 | $76,550 | $146,514 | $263,554 | $359,500 |
| Crestview | $76,598 | $136,502 | $200,528 | $269,972 | $340,541 |
| Destin | $202,801 | $286,750 | $401,555 | $665,000 | $1,044,436 |
| Fort Walton Beach | $125,366 | $163,389 | $229,818 | $332,008 | $464,078 |
| Ft Walton Bch | N/A | N/A | N/A | N/A | N/A |
| Ft Walton Beach | $70,000 | $115,837 | $136,222 | $211,334 | $423,798 |
| Holt | $31,364 | $57,934 | $104,350 | $174,257 | $265,929 |
| Laurel Hill | $28,057 | $61,835 | $134,113 | $264,111 | $351,065 |
| Mary Esther | $129,825 | $172,318 | $220,163 | $292,303 | $390,634 |
| Niceville | $154,759 | $230,120 | $318,366 | $455,886 | $619,518 |
| Shalimar | $146,983 | $182,738 | $284,824 | $392,772 | $619,274 |
| Valparaiso | $137,896 | $170,457 | $215,048 | $337,525 | $485,135 |
Source: Ownwell
Property Tax Bills Across Okaloosa County, Florida
In Okaloosa County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county property appraiser. This assessed value is then multiplied by the local millage rate to determine the tax bill. Various factors influence the assessed value, including the home's market value, location, and any applicable exemptions. Homeowners in Okaloosa County experience a range of property tax bills. For instance, the 25th percentile tax bill is approximately $1,208, while the 75th percentile tax bill rises to about $3,503. The 90th percentile tax bill can reach up to $5,667. These figures highlight the variability in property tax obligations depending on the value and location of the home. Comparatively, Okaloosa's median home price is $253,315, and the median property tax rate is below the national median of 0.99%. The highest median tax bill in the county is found in Destin at $4,050, while the lowest is in Holt at $624. This variation significantly impacts homeowners' financial planning and long-term investment decisions.
Average Okaloosa County Tax Bill
$2,112
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Okaloosa County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | $238 | $454 | $877 | $1,574 | $2,495 |
| Crestview | $439 | $832 | $1,533 | $2,367 | $3,267 |
| Destin | $1,623 | $2,551 | $4,050 | $6,686 | $10,447 |
| Fort Walton Beach | $708 | $1,223 | $1,997 | $3,262 | $5,096 |
| Ft Walton Bch | N/A | N/A | N/A | N/A | N/A |
| Ft Walton Beach | $541 | $697 | $895 | $2,216 | $4,111 |
| Holt | $173 | $351 | $624 | $1,118 | $1,686 |
| Laurel Hill | $177 | $370 | $807 | $1,748 | $2,546 |
| Mary Esther | $704 | $1,112 | $1,876 | $2,637 | $3,826 |
| Niceville | $941 | $1,536 | $2,550 | $3,820 | $5,471 |
| Shalimar | $898 | $1,494 | $2,137 | $3,392 | $5,166 |
| Valparaiso | $737 | $1,278 | $2,163 | $3,106 | $4,810 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |