Polk City, Florida Property Taxes
The median property tax rate in Polk City, FL is 1.09%, slightly above the national median of 0.99% but below the Florida state median of 1.14%. With a median home value of $161,745 in Polk City, the typical annual property tax bill amounts to $1,441, which is notably less than the national median of $2,690. Property taxes in Polk City are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Polk City, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of Polk City or another part of the area, gaining a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Polk City, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,763
$1,667
$1,148
Average Polk City, Florida Tax Savings
Ownwell’s Polk City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Polk City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Polk City 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 Polk City. 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 Polk City, Florida
Property taxes in Polk City, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Polk City is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within Polk City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Polk City 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 Polk City's effective property tax rate to other counties in Florida and the national median. For comparison, the 33868 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Polk City 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 Polk City Tax Rate
1.09%
Average Polk County Tax Rate
1.16%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Polk City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33868 | 0.46% | 0.64% | 1.09% | 1.51% | 1.78% |
Source: Ownwell
$1,148
Average Polk City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Polk City, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Polk City, 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 Polk 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 Polk City, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 33868 has the highest and lowest median tax bill, both at $1,441, which is below the national median property tax rate of 0.99%.
Average Polk City Assessed Value
$161,745
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 Polk City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33868 | $57,267 | $98,600 | $161,745 | $240,144 | $328,563 |
Source: Ownwell
$1,148
Average Polk City Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Polk City, Florida
In Polk City, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the market value of the home. For example, with a median home price of $161,745, tax bills can vary significantly. Homeowners in the 25th percentile might see a tax bill around $811, while those in the 75th percentile could face bills up to $2,624, and the 90th percentile could reach $3,831. These figures are influenced by local levies and exemptions, which can affect the final amount due. High property tax bills can be a burden, but Ownwell can help homeowners in Polk City save on their property taxes. Our team of experts can identify potential errors in the assessed value, file appeals, and apply for eligible exemptions, ensuring you pay only what is fair. By leveraging our services, you can potentially reduce your property tax bill and keep more money in your pocket.
Average Polk City Tax Bill
$1,441
Average Polk County Tax Bill
$1,931
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Polk City, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33868 | $568 | $811 | $1,441 | $2,624 | $3,831 |
Source: Ownwell
$1,148
Average Polk City 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 10 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Polk Property Appraiser | |
| Website | www.polkpa.org |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.