Lake Hamilton, Polk County, Florida Property Taxes
Median LAKE HAMILTON, FL effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median LAKE HAMILTON, FL home value: $181,932
Median annual LAKE HAMILTON, FL tax bill: $1,953, $447 lower than the national median property tax bill of $2,400.
How are property taxes in Polk calculated?
Property taxes in LAKE HAMILTON, 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 HAMILTON’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE HAMILTON, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Hamilton, Polk County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.12%
Estimate Property Tax Bill
$2,038
$1,891
$1,102
Average Tax Savings
Property Tax Rates Across Lake Hamilton, Polk County, Florida
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Lake Hamilton in Polk County, FL, has an effective property tax rate of 1.12%. This rate aligns with the highest and lowest median tax rates in the area, both recorded at 1.12% in the 33851 zip code. Compared to the national median property tax rate of 1.02%, Lake Hamilton's rate is slightly higher. However, it is important to note that property tax rates can be influenced by various factors, such as local government needs and property values.
When comparing Lake Hamilton’s tax rate to other cities in Florida and across the U.S., it is clear that understanding these rates is crucial for property owners. This knowledge can help in making informed decisions about property investments and understanding potential financial obligations.
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 Hamilton Tax Rate
1.12%
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 Polk County Tax Rate
1.16%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Hamilton, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33851 | 0.55% | 0.68% | 1.12% | 1.83% | 2.15% |
Source: Ownwell
$1,102
Average Lake Hamilton Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Assessment Values Across Lake Hamilton, Polk County, Florida
When examining property taxes in Lake Hamilton, 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 Polk 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 Polk 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 Hamilton.
For example, the median home price in Lake Hamilton is $181,932, with tax bills ranging significantly across the county. Zip code 33851 has the highest median home price at $181,932.
Property Tax Assessment Values Across Lake Hamilton, Polk County, Florida
Source: Ownwell
$33,000
$153,520
$274,039
Median Lake Hamilton Market Value
$181,932
Median Polk County Market Value
$203,226
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Hamilton, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33851 | $91,114 | $136,502 | $181,932 | $233,915 | $278,960 |
Source: Ownwell
$1,102
Average Lake Hamilton Tax Savings
Save on your property taxes & more with Ownwell
Property Tax Bills Across Lake Hamilton, Polk County, Florida
In Lake Hamilton, located in Polk County, Florida, property tax bills are determined based on the assessed value of a home. The median home price here stands at $181,932. The local tax rate is applied to this assessed value to calculate the annual property tax bill. While the national median property tax bill is $2,400, homeowners in Lake Hamilton experience a range of tax bills, with the 25th percentile at $1,116 and the 75th percentile at $2,888. The 90th percentile sees bills as high as $4,382, influenced by factors such as property location and any applicable exemptions. These taxes can be a significant financial consideration for homeowners, impacting their annual budget.
Ownwell helps homeowners in Lake Hamilton by providing expert property tax appeal services. By analyzing property assessments and identifying potential errors or overvaluations, Ownwell can effectively reduce a homeowner's tax burden. This ensures that residents only pay their fair share, potentially saving them hundreds or even thousands of dollars annually.
Median Lake Hamilton Tax Bill
$1,953
Median Polk County Tax Bill
$1,931
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Hamilton, Polk County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33851 | $835 | $1,116 | $1,953 | $2,888 | $4,382 |
Source: Ownwell
$1,102
Average Lake Hamilton 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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