Lake Alfred, Polk County, Florida Property Taxes
The median property tax rate in Lake Alfred, FL is 1.08%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With a median home value of $160,560 in Lake Alfred, the typical annual property tax bill amounts to $1,668, which is below the national median of $2,690. Property taxes in Lake Alfred are based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Lake Alfred'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 Lake Alfred 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
Lake Alfred, Polk County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,734
$1,609
$1,148
Average Tax Savings
Ownwell’s Lake Alfred Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Alfred with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Alfred 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 Lake Alfred. 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 Lake Alfred, Polk County, Florida
Property taxes in Lake Alfred, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Alfred is 1.08%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Lake Alfred set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Alfred 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 Lake Alfred's effective property tax rate to other counties in Florida and the national median. For comparison, the 33850 zip code has the highest median property tax rate of 1.08%, while the 33850 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Lake Alfred provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Alfred Tax Rate
1.08%
Average Polk County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Alfred, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33850 | 0.38% | 0.68% | 1.08% | 1.73% | 1.98% |
Source: Ownwell
$1,148
Average Lake Alfred Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lake Alfred, Polk County, Florida
In Lake Alfred, 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 Polk 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 Lake Alfred, 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. For instance, the median home price in Lake Alfred is $160,560, with tax bills ranging from $834 at the 25th percentile to $3,912 at the 90th percentile. The zip code with the highest median tax bill is 33850, at $1,668. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lake Alfred, Polk County, Florida
Source: Ownwell
$33,000
$153,520
$274,039
Average Lake Alfred Assessed Value
$160,560
Average Polk County Assessed Value
$203,226
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Alfred, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33850 | $46,599 | $94,466 | $160,560 | $233,189 | $286,974 |
Source: Ownwell
$1,148
Average Lake Alfred Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lake Alfred, Polk County, Florida
In Lake Alfred, Polk County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For a median home price of $160,560, the tax bill can vary significantly, ranging from $834 at the 25th percentile to $3,912 at the 90th percentile. This variation depends on multiple factors, including property size, location, and any applicable exemptions. Homeowners in Lake Alfred face property tax rates that can be a financial burden, especially when compared to the national median property tax rate of 0.99%. This is where Ownwell steps in. Our property tax consulting services help homeowners appeal their property tax assessments and identify potential exemptions. By leveraging our expertise, homeowners can potentially reduce their property tax bills, ensuring they pay only their fair share.
Average Lake Alfred Tax Bill
$1,668
Average Polk County Tax Bill
$1,931
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Alfred, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33850 | $541 | $834 | $1,668 | $2,746 | $3,912 |
Source: Ownwell
$1,148
Average Lake Alfred 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 1 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Polk Property Appraiser | |
| Website | www.polkpa.org |
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