Ft Walton Beach, Okaloosa County, Florida Property Taxes

Name: Property Tax Bills Across Ft Walton Beach, Okaloosa County, Florida
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FT WALTON BEACH, FL effective property tax rate: 0.78%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median FT WALTON BEACH, FL home value: $136,222
Median annual FT WALTON BEACH, FL tax bill: $895, $1,505 lower than the national median property tax bill of $2,400.

How are property taxes in Okaloosa calculated?

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

Last Updated March 1, 2025

Ft Walton Beach, Okaloosa County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.78%

Estimate Property Tax Bill

$1,063

$986

Ownwell’s FT WALTON BEACH Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in FT WALTON BEACH with just two data points. By entering your property's estimated assessed value, our calculator applies FT WALTON BEACH’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 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 Okaloosa County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Ft Walton Beach, Okaloosa County, Florida

Local government entities determine property tax rates, which can significantly differ within Florida. Each year, counties like Okaloosa calculate their required budget for essential services and divide it by the total value of all taxable property within their borders. This calculation results in the property tax rate. While this involves votes and regulations, this is the core of the annual process.

In Fort Walton Beach, located in Okaloosa County, the effective property tax rate is 0.78%, which aligns with the lowest rate in the county. In contrast, the highest median rate in the county is 1.14% in the 32547 ZIP code. Compared to the national median property tax rate of 1.02%, Fort Walton Beach enjoys a relatively lower rate, making it an attractive location for property owners. This lower tax rate can result in significant savings, especially when compared to other parts of the country. Understanding these differences is crucial for homeowners considering property tax appeals or exemptions.

Property Tax Rates Across Ft Walton Beach, Okaloosa County, Florida

Source: Ownwell

0.58%

0.89%

1.20%

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 Ft Walton Beach Tax Rate

0.78%

Median Effective Okaloosa County Tax Rate

0.93%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Ft Walton Beach, Okaloosa County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
32547	0.49%	0.88%	1.14%	1.15%	1.24%
32548	0.50%	0.77%	0.78%	1.16%	1.39%

Source: Ownwell

Property Tax Assessment Values Across Ft Walton Beach, Okaloosa County, Florida

When examining property taxes in FT WALTON BEACH, 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 Okaloosa 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. Assessment notices: In Okaloosa County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 FT WALTON BEACH. For example, the median home price in FT WALTON BEACH is $136,222, with tax bills ranging significantly across the county. 32547 has the highest median home price at $202,690.

Property Tax Assessment Values Across Ft Walton Beach, Okaloosa County, Florida

Source: Ownwell

$104,350

$252,953

$401,555

Median Ft Walton Beach Market Value

$136,222

Median Okaloosa County Market Value

$253,315

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Ft Walton Beach, Okaloosa County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
32547	$35,186	$76,987	$202,690	$485,858	$678,436
32548	$70,000	$115,837	$132,365	$195,217	$311,032

Source: Ownwell

Property Tax Bills Across Ft Walton Beach, Okaloosa County, Florida

In FT WALTON BEACH, located in Okaloosa County, FL, property tax bills are determined by the assessed value of the home, which often differs from the market value. The median home price in the area is $136,222, and local tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as location within specific zip codes can influence the tax bill, with the highest median tax bill reaching $2,078 in zip code 32547, while the lowest is $895 in zip code 32548. Compared to the national median property tax rate of 1.02%, FT WALTON BEACH homeowners might find their tax bills relatively manageable, but they can still vary significantly. This variation impacts homeowners by affecting their annual expenses and potentially influencing property affordability. Ownwell offers valuable assistance by providing property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing property assessments and identifying discrepancies, Ownwell can potentially save homeowners significant amounts on their property tax bills.

Property Tax Bills Across Ft Walton Beach, Okaloosa County, Florida

Source: Ownwell

$624

$2,337

$4,050

Median Ft Walton Beach Tax Bill

$895

Median Okaloosa County Tax Bill

$2,112

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Ft Walton Beach, Okaloosa County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
32547	$382	$650	$2,078	$4,709	$7,011
32548	$546	$701	$895	$2,040	$3,347

Source: Ownwell

Don't miss the deadline to petition!

Dates
Property Valuation Date	January 1
Appeal Deadline	September 13
Tax Bill
Issued	November 1

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