Hypoluxo, Florida Property Taxes
The median property tax rate in Hypoluxo, FL is 1.50%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Hypoluxo at $227,340, the typical annual property tax bill reaches $3,092, exceeding the national median of $2,690. Property taxes in Hypoluxo 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 Hypoluxo'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 Hypoluxo 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
Hypoluxo, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$3,410
$3,164
$1,148
Average Tax Savings
Ownwell’s Hypoluxo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hypoluxo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hypoluxo 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 Hypoluxo. 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 Hypoluxo, Florida
Property taxes in Hypoluxo, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hypoluxo is 1.50%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Hypoluxo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hypoluxo 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 Hypoluxo's effective property tax rate to other counties in Florida and the national median. For comparison, the 33462 zip code has the highest median property tax rate of 1.50%, while the same 33462 zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Hypoluxo 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 Hypoluxo Tax Rate
1.50%
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 Hypoluxo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33462 | 0.67% | 0.98% | 1.50% | 1.59% | 1.68% |
Source: Ownwell
$1,148
Average Hypoluxo Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hypoluxo, Florida
In Hypoluxo, 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 Appraisal District 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 Hypoluxo, 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. The median home price in Hypoluxo is $227,340, with tax bills ranging from $2,230 at the 25th percentile to $5,536 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hypoluxo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hypoluxo Assessed Value
$227,340
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 Hypoluxo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33462 | $143,938 | $169,600 | $227,340 | $307,090 | $401,239 |
Source: Ownwell
$1,148
Average Hypoluxo Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hypoluxo, Florida
In Hypoluxo, located in Palm Beach County, FL, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Hypoluxo is $227,340, and the property tax rate is aligned with the county's standards. Homeowners can expect tax bills ranging from $2,230 at the 25th percentile to $5,536 at the 90th percentile, with the highest median tax bill recorded at $3,092 in the 33462 zip code. Several factors influence your tax bill, including property assessments, local tax rates, and any applicable exemptions. High property taxes can significantly impact homeowners' budgets, making it essential to ensure your property is assessed fairly. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burden. By evaluating your property's assessed value and identifying potential discrepancies, Ownwell can assist in lowering your property tax bills, ensuring you only pay your fair share.
Average Hypoluxo Tax Bill
$3,092
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 Hypoluxo, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33462 | $1,447 | $2,230 | $3,092 | $3,947 | $5,536 |
Source: Ownwell
$1,148
Average Hypoluxo 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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