South Bay, Florida Property Taxes
The median property tax rate in South Bay, FL is 1.47%, considerably higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in South Bay at $106,184, the typical annual property tax bill reaches $1,557, which is below the national median of $2,690. Property taxes in South Bay 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 South Bay'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 South Bay 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
South Bay, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,561
$1,476
$1,148
Average South Bay, Florida Tax Savings
Ownwell’s South Bay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Bay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Bay 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 South Bay. 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 South Bay, Florida
Property taxes in South Bay, Florida, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in South Bay is 1.47%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within South Bay set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Bay 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 South Bay's effective property tax rate to other counties in Florida and the national median. For comparison, the 33493 zip code has both the highest and lowest median property tax rate of 1.47%. Understanding how these cities compare with South Bay 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 South Bay Tax Rate
1.47%
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 South Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33493 | 0.74% | 0.85% | 1.47% | 2.33% | 2.50% |
Source: Ownwell
$1,148
Average South Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across South Bay, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in South Bay, Florida. 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 South Bay, 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 here is $106,184, with tax bills ranging from the 25th percentile at $879 to the 90th percentile at $2,795. The highest median tax bill is $1,557 in the 33493 zip code, which also has the lowest median tax bill of $1,557. 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 South Bay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Bay Assessed Value
$106,184
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 South Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33493 | $75,696 | $89,905 | $106,184 | $122,244 | $151,818 |
Source: Ownwell
$1,148
Average South Bay Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across South Bay, Florida
In South Bay, 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 tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with the median home price in South Bay being $106,184, homeowners can expect varying tax bills. The 25th percentile tax bill is around $879, while the 75th percentile reaches up to $2,380, and the 90th percentile can be as high as $2,795. These tax bills can have a significant impact on homeowners, influencing their overall housing costs and financial planning. Ownwell can assist homeowners in South Bay by providing expert property tax appeal and exemption services, potentially lowering their tax bills. By leveraging local market data and a deep understanding of property tax regulations, Ownwell can identify discrepancies in assessed values and advocate for fairer tax assessments, ultimately helping homeowners save money.
Average South Bay Tax Bill
$1,557
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 South Bay, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33493 | $798 | $879 | $1,557 | $2,380 | $2,795 |
Source: Ownwell
$1,148
Average South Bay 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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