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Lake Park, Palm Beach County, Florida Property Taxes

  • Median Lake Park, FL effective property tax rate: 1.65%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.

  • Median Lake Park, FL home value: $283,932

  • Median annual Lake Park, FL tax bill: $3,720, $1,320 higher than the national median property tax bill of $2,400.

How are property taxes in Palm Beach calculated?

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

Last Updated March 1, 2025

Lake Park, Palm Beach County, Florida Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.65%

Estimate Property Tax Bill

$4,685

$4,347

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Lake Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Park with just two data points. By entering your property's estimated assessed value, our calculator applies Lake Park’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 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 Lake Park, Palm Beach County, Florida

Local government entities are responsible for setting tax rates, which can differ significantly within a state. This variation occurs because each county annually calculates its budgetary needs for providing services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While the process involves votes and legal frameworks, this is the fundamental annual cycle.

In Lake Park, located in Palm Beach County, the effective property tax rate stands at 1.65%. When compared to the national median property tax rate of 1.02%, Lake Park's rate is considerably higher. This reflects the broader trend within Florida, where tax rates can vary, but Lake Park's rate is notably above the national average.

For homeowners, understanding these rates is crucial as they directly impact annual property tax bills. With the national median property tax bill at $2,400, property owners in Lake Park may find themselves paying a higher amount due to the elevated tax rate. Comparing Lake Park's tax rate to other cities in Florida and the national average provides valuable insight for property owners and potential buyers.

Property Tax Rates Across Lake Park, 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 Lake Park Tax Rate

1.65%

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 Lake Park, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
334030.68%0.93%1.65%2.08%2.48%

Source: Ownwell

Property Tax Assessment Values Across Lake Park, Palm Beach County, Florida

When examining property taxes in Lake Park, 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 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 April. 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 Lake Park. For example, the median home price in Lake Park is $283,932, with tax bills ranging significantly across the county. Zip code 33403 has the highest median home price at $283,932.

Property Tax Assessment Values Across Lake Park, Palm Beach County, Florida

Source: Ownwell

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$75,260

$500,314

$925,368

Median Lake Park Market Value

$283,932

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 Lake Park, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
33403$81,468$224,182$283,932$330,567$381,488

Source: Ownwell

Property Tax Bills Across Lake Park, Palm Beach County, Florida

In Lake Park, Palm Beach County, FL, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in this area is $283,932, with tax bills ranging significantly. Homeowners in the 25th percentile pay approximately $1,878, while those in the 75th percentile face bills around $5,827. The tax bill can even reach $7,102 for those in the 90th percentile. Comparatively, the national median property tax bill is $2,400, making Palm Beach County's rates notably higher. These taxes can be a significant burden for homeowners, impacting their overall financial health. By providing property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Through expert analysis and negotiation, Ownwell identifies opportunities for savings, ensuring that homeowners are not overpaying on their property taxes.

Property Tax Bills Across Lake Park, Palm Beach County, Florida

Source: Ownwell

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$939

$6,170

$11,401

Median Lake Park Tax Bill

$3,720

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 Lake Park, Palm Beach County, Florida

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
33403$1,231$1,878$3,720$5,827$7,102

Source: Ownwell

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