Royal Palm Beach, Florida Property Taxes
The median property tax rate in Royal Palm Beach, FL is 1.20%, notably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Royal Palm Beach at $331,312, the typical annual property tax bill amounts to $3,452, surpassing the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Royal Palm Beach'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 Royal Palm Beach or another part of Palm Beach County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Royal Palm Beach, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$3,976
$3,763
$1,148
Average Royal Palm Beach, Florida Tax Savings
Ownwell’s Royal Palm Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Royal Palm Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Royal Palm Beach 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 Royal Palm Beach. 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 Royal Palm Beach, Florida
Property taxes in Royal Palm Beach, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Royal Palm Beach is 1.20%, which is higher than the national median of 0.99%. Local government entities within Royal Palm Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Royal Palm Beach 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 Royal Palm Beach's effective property tax rate to other areas in Palm Beach County and the national median. For comparison, the 33414 zip code has the highest median property tax rate of 1.71%, while the 33411 zip code has the lowest median tax rate of 1.17%. Understanding how these areas compare with Royal Palm Beach 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 Royal Palm Beach Tax Rate
1.20%
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 Royal Palm Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33411 | 0.50% | 0.72% | 1.17% | 1.68% | 1.83% |
| 33414 | 0.74% | 1.03% | 1.71% | 1.82% | 1.86% |
Source: Ownwell
$1,148
Average Royal Palm Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Royal Palm Beach, Florida
In Royal Palm Beach, 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 Royal Palm Beach, 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 highest median tax bill in Royal Palm Beach is $3,684 in the 33414 zip code, while the lowest median tax bill is $3,400 in the 33411 zip code. 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 Royal Palm Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Royal Palm Beach, Florida
Source: Ownwell
$32,527
$1,351,467
$2,670,407
Average Royal Palm Beach Assessed Value
$331,312
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 Royal Palm Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33411 | $156,600 | $238,700 | $331,868 | $398,496 | $464,734 |
| 33414 | $181,044 | $201,374 | $322,164 | $392,564 | $436,821 |
Source: Ownwell
$1,148
Average Royal Palm Beach Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Royal Palm Beach, Florida
In Royal Palm Beach, Palm Beach County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $331,312, homeowners can expect their tax bills to vary significantly. The tax bill at the 25th percentile is around $2,244, while at the 75th percentile, it rises to approximately $5,258, and at the 90th percentile, it can go up to $6,848. The highest median tax bill in the area is $3,684 in the 33414 zip code, whereas the lowest is $3,400 in the 33411 zip code. Homeowners can be significantly impacted by these taxes, especially if their property is assessed at a higher value. This is where Ownwell steps in. By leveraging expert knowledge in property tax appeals and exemptions, Ownwell helps homeowners potentially reduce their assessed values, leading to lower tax bills and substantial savings.
Average Royal Palm Beach Tax Bill
$3,452
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 Royal Palm Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33411 | $1,204 | $2,167 | $3,400 | $5,259 | $6,856 |
| 33414 | $2,312 | $3,171 | $3,684 | $5,221 | $6,763 |
Source: Ownwell
$1,148
Average Royal Palm Beach 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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