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Canal Point, Palm Beach County, Florida Property Taxes

  • Median Canal Point, FL effective property tax rate: 1.47%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median Canal Point, FL home value: $98,441

  • Median annual Canal Point, FL tax bill: $1,307, $1,093 lower than the national median property tax bill of $2,400.

How are property taxes in Palm Beach calculated?

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

Last Updated March 1, 2025

Canal Point, Palm Beach County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.47%

Estimate Property Tax Bill

$1,447

$1,343

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Canal Point Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Canal Point with just two data points. By entering your property's estimated assessed value, our calculator applies Canal Point’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Palm Beach County — reflects any exemptions you may have, ensuring a more 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 Palm Beach County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Canal Point, Palm Beach County, Florida

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Canal Point in Palm Beach County, Florida, the effective property tax rate is 1.47%, which is notably higher than the national median of 1.02%. This rate reflects the county's budgetary needs and the value of taxable property in the area. In comparison, Florida's overall property tax rates can vary, but Canal Point's rate stands out within the state. When considering the national median property tax bill of $2400, property owners in Canal Point might find their tax bills to be higher, given the elevated tax rate. Understanding these rates can help property owners anticipate their annual tax obligations and consider potential savings through property tax appeals or exemptions.

Property Tax Rates Across Canal Point, Palm Beach County, Florida

Source: Ownwell

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1.01%

1.70%

2.38%

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 Canal Point Tax Rate

1.47%

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 Palm Beach County Tax Rate

1.34%

Median Effective Florida Tax Rate

1.14%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Canal Point, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
334380.79%0.94%1.47%2.29%2.76%

Source: Ownwell

Property Tax Assessment Values Across Canal Point, Palm Beach County, Florida

When examining property taxes in Canal Point, Florida, 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 Palm Beach 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.

In Palm Beach County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Canal Point.

For example, the median home price in Canal Point is $98,441, with tax bills ranging significantly across the county. Zip code 33438 has the highest median home price at $98,441.

Property Tax Assessment Values Across Canal Point, Palm Beach County, Florida

Source: Ownwell

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$75,260

$500,314

$925,368

Median Canal Point Market Value

$98,441

Median Palm Beach County Market Value

$316,112

Median Florida Market Value

$276,648

Median United States Market Value

$235,294

Property Tax Assessment Values Across Canal Point, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33438$40,917$56,998$98,441$136,170$176,790

Source: Ownwell

Property Tax Bills Across Canal Point, Palm Beach County, Florida

In Canal Point, located in Palm Beach County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local property appraiser. The median home price in the area is $98,441, and the tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,050, while the 75th percentile reaches $1,854, and the 90th percentile can go up to $2,622. The highest and lowest median tax bills in the area both stand at $1,307 in the 33438 zip code. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Canal Point's property taxes can be relatively moderate, affecting homeowners' annual expenses. Homeowners may find their tax bills burdensome, especially if the assessed value of their property is higher than expected. Ownwell offers property tax appeal services that can help homeowners potentially reduce their tax bills by ensuring their property is assessed fairly, providing a valuable opportunity to save money.

Property Tax Bills Across Canal Point, Palm Beach County, Florida

Source: Ownwell

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$939

$6,170

$11,401

Median Canal Point Tax Bill

$1,307

Median Palm Beach County Tax Bill

$3,892

Median Florida Tax Bill

$2,953

Median United States Tax Bill

$2,400

Property Tax Bills Across Canal Point, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33438$793$1,050$1,307$1,854$2,622

Source: Ownwell

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