Okeechobee County Property Taxes
The median property tax rate in Okeechobee is 1.01%, which is slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $153,229 in Okeechobee, the typical annual property tax bill amounts to $1,338, which is below the national median of $2,690. Property taxes in Okeechobee 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 Okeechobee's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Okeechobee or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okeechobee County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,548
$1,463
Ownwell’s Okeechobee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okeechobee with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Okeechobee 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 Okeechobee County, Florida
Property taxes in Okeechobee play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Okeechobee is 1.01%, which is higher than the U.S. national median of 0.99%. Local government entities within Okeechobee set these rates annually, and they can vary significantly between different areas within the county. Each year, Okeechobee 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. The following data compares Okeechobee's effective property tax rate with other counties in Florida and the national median. For comparison, the city of Okeechobee has one of the higher property tax rates in Florida at 1.01%. Analyzing how Okeechobee's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Okeechobee County Tax Rate
1.01%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okeechobee County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | 0.52% | 0.64% | 1.01% | 1.46% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Okeechobee County, Florida
In Okeechobee, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Okeechobee 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 Okeechobee 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. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Okeechobee's median home price is $153,229, with tax bills ranging from $883 at the 25th percentile to $3129 at the 90th percentile. Being aware of these valuation processes in Okeechobee will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Okeechobee County, Florida
Source: Ownwell
$148,208
$155,441
$162,674
Average Okeechobee County Assessed Value
$153,229
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okeechobee County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | $47,271 | $90,717 | $153,229 | $230,809 | $329,374 |
Source: Ownwell
Property Tax Bills Across Okeechobee County, Florida
In Okeechobee County, FL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $153,229, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property location, improvements, and exemptions like homestead exemptions significantly influence the final tax bill. In Okeechobee, the tax bill can range widely, with the 25th percentile of homeowners paying around $883 annually, while those in the 75th percentile pay approximately $2,127. At the higher end, the 90th percentile sees tax bills around $3,129. Compared to the national median property tax rate of 0.99%, Okeechobee's tax rates can seem moderate, but individual tax bills can vary significantly. This variability impacts homeowners' financial planning and the overall affordability of homeownership in the county.
Average Okeechobee County Tax Bill
$1,338
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Okeechobee County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | $552 | $883 | $1,338 | $2,127 | $3,129 |
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 | |
|---|---|
| Okeechobee Property Appraiser | |
| Website | www.okeechobeepa.com |