Ocean Ridge, Florida Property Taxes
The median property tax rate in Ocean Ridge, FL is 1.59%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Ocean Ridge, the typical annual property tax bill reaches $11,401, far exceeding the national median of $2,690. Property taxes in Ocean Ridge 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 Ocean Ridge'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 Ocean Ridge 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
Ocean Ridge, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$14,713
$13,911
$1,148
Average Ocean Ridge, Florida Tax Savings
Ownwell’s Ocean Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocean Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocean Ridge 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 Ocean Ridge. 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 Ocean Ridge, Florida
Property taxes in Ocean Ridge, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ocean Ridge is 1.59%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Ocean Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocean Ridge 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 Ocean Ridge's effective property tax rate to other counties in Florida and the national median. For comparison, the 33435 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Ocean Ridge 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 Ocean Ridge Tax Rate
1.59%
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 Ocean Ridge, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33435 | 0.69% | 1.03% | 1.59% | 1.79% | 1.93% |
Source: Ownwell
$1,148
Average Ocean Ridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Ocean Ridge, Florida
In Ocean Ridge, 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 Ocean Ridge, 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. Being aware of these valuation processes in Ocean Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $11,401 in the 33435 zip code, while the lowest median tax bill also stands at $11,401 in the same zip code.
Property Tax Assessment Values Across Ocean Ridge, Florida
Source: Ownwell
$32,527
$1,351,467
$2,670,407
Average Ocean Ridge Assessed Value
$925,368
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 Ocean Ridge, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33435 | $134,154 | $259,051 | $925,368 | $1,574,526 | $2,764,771 |
Source: Ownwell
$1,148
Average Ocean Ridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Ocean Ridge, Florida
In Ocean Ridge, Palm Beach County, FL, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and reflects the market value of your property. Property tax rates in Ocean Ridge can vary, but the median tax bill is significantly influenced by the home’s value. For instance, with a median home price of $925,368, homeowners can expect varying tax bills, ranging from $3,785 at the 25th percentile to $39,958 at the 90th percentile. These figures highlight the substantial impact property taxes can have on homeowners. Homeowners in Ocean Ridge can benefit from Ownwell’s property tax appeal and exemption services. Our experts analyze your property’s assessed value, identify discrepancies, and file appeals on your behalf. By ensuring your property is assessed accurately, we help reduce your tax burden, potentially saving you thousands of dollars annually. With Ownwell, you gain peace of mind and financial relief from overestimated property taxes.
Average Ocean Ridge Tax Bill
$11,401
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 Ocean Ridge, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33435 | $1,856 | $3,785 | $11,401 | $20,364 | $39,958 |
Source: Ownwell
$1,148
Average Ocean Ridge 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 16 |
| 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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