Boca Raton, Florida Property Taxes
The median property tax rate in Boca Raton, FL is 1.23%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Boca Raton, the typical annual property tax bill reaches $4,367, exceeding the national median of $2,690. Property taxes in Boca Raton 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 Boca Raton'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 Boca Raton 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
Boca Raton, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$4,838
$4,489
$1,148
Average Tax Savings
Ownwell’s Boca Raton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boca Raton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boca Raton to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Boca Raton. 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 Boca Raton, Florida
Property taxes in Boca Raton, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boca Raton is 1.23%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Boca Raton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boca Raton 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 Boca Raton's effective property tax rate to other counties in Florida and the national median. For comparison, the 33432 zip code has the highest median property tax rate of 1.51%, while the 33486 zip code has the lowest median tax rate of 1.10%. Understanding how these cities compare with Boca Raton provides valuable insights into the varying tax landscape across Palm Beach County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boca Raton Tax Rate
1.23%
Average Palm Beach County Tax Rate
1.34%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boca Raton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | 0.53% | 0.74% | 1.14% | 1.62% | 1.74% |
| 33431 | 0.65% | 0.93% | 1.37% | 1.69% | 1.78% |
| 33432 | 0.61% | 0.98% | 1.51% | 1.70% | 1.78% |
| 33433 | 0.63% | 0.84% | 1.20% | 1.68% | 1.82% |
| 33434 | 0.55% | 0.82% | 1.37% | 1.69% | 1.84% |
| 33486 | 0.59% | 0.75% | 1.10% | 1.61% | 1.80% |
| 33487 | 0.63% | 0.83% | 1.29% | 1.69% | 1.81% |
| 33496 | 0.67% | 0.92% | 1.23% | 1.60% | 1.72% |
| 33498 | 0.71% | 0.84% | 1.10% | 1.46% | 1.64% |
Source: Ownwell
$1,148
Average Boca Raton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Boca Raton, Florida
In Boca Raton, 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 Palm Beach 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 Boca Raton, 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. Boca Raton's highest median tax bill is $8,140 in the 33432 zip code, while the lowest is $1,936 in the 33434 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boca Raton Assessed Value
$393,330
Average Palm Beach County Assessed Value
$316,112
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boca Raton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | $137,944 | $189,228 | $333,980 | $445,140 | $590,367 |
| 33431 | $168,720 | $318,600 | $446,232 | $643,215 | $1,177,200 |
| 33432 | $174,900 | $301,320 | $686,720 | $1,209,900 | $2,872,056 |
| 33433 | $181,652 | $237,600 | $333,436 | $483,950 | $619,726 |
| 33434 | $66,120 | $87,975 | $175,560 | $420,102 | $706,039 |
| 33486 | $171,200 | $351,000 | $518,111 | $667,504 | $925,784 |
| 33487 | $160,500 | $212,000 | $415,800 | $567,146 | $1,083,770 |
| 33496 | $198,452 | $272,850 | $422,696 | $993,621 | $1,684,478 |
| 33498 | $276,304 | $411,877 | $506,369 | $607,172 | $697,828 |
Source: Ownwell
$1,148
Average Boca Raton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Boca Raton, Florida
In Boca Raton, located in Palm Beach County, FL, property tax bills are calculated based on the assessed value of a home and the county's tax rate. The median home price in Boca Raton is $393,330. The assessed value is determined by the county assessor and may differ from the market value. Factors such as property size, location, and improvements influence this assessment. Homeowners in Boca Raton experience a range of tax bills, with the 25th percentile at $2,561 and the 75th percentile at $7,384. The highest median tax bill in the area is $8,140, found in zip code 33432, while the lowest is $1,936 in zip code 33434. Ownwell can help homeowners in Boca Raton reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing assessment data and identifying discrepancies, Ownwell ensures that homeowners pay only their fair share. This can lead to significant savings, easing the financial burden and helping homeowners maximize their investment.
Average Boca Raton Tax Bill
$4,367
Average Palm Beach County Tax Bill
$3,892
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Boca Raton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | $1,119 | $2,101 | $3,334 | $5,448 | $7,446 |
| 33431 | $2,145 | $3,237 | $5,776 | $8,696 | $14,479 |
| 33432 | $2,205 | $3,987 | $8,140 | $16,643 | $36,849 |
| 33433 | $1,676 | $2,791 | $4,041 | $5,830 | $8,274 |
| 33434 | $536 | $1,158 | $1,936 | $4,784 | $8,456 |
| 33486 | $2,328 | $3,183 | $4,998 | $7,810 | $10,787 |
| 33487 | $1,822 | $2,970 | $4,497 | $7,160 | $11,122 |
| 33496 | $1,768 | $2,974 | $5,506 | $12,855 | $21,244 |
| 33498 | $2,608 | $3,855 | $5,588 | $7,448 | $9,485 |
Source: Ownwell
$1,148
Average Boca Raton Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Palm Beach Property Appraiser | |
| Phone | (561) 355-3230 |
| Website | www.pbcgov.org |
| pa-info@pbcgov.org | |
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