Florahome, Florida Property Taxes
The median property tax rate in Florahome, FL is 1.10%, 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 $111,230, the typical annual property tax bill in Florahome is approximately $1,007, which is below the national median of $2,690. Property taxes in Florahome are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Florahome'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 Florahome or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Florahome, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,224
$1,158
Ownwell’s Florahome Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florahome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florahome to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Florahome, Florida
Property taxes in Florahome, Florida, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Florahome is 1.10%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Florahome set these rates annually, and they can vary across different neighborhoods. Each year, Florahome 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 Florahome's effective property tax rate to other counties in Florida and the national median. For comparison, the 32140 zip code has the highest median property tax rate of 1.10%, while the 32140 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Florahome provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Florahome Tax Rate
1.10%
Average Putnam County Tax Rate
1.17%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florahome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32140 | 0.51% | 0.68% | 1.10% | 1.61% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Florahome, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Florahome, 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 Putnam 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 Florahome, 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. For instance, the median home price in Florahome is $111,230, with tax bills ranging from $533 at the 25th percentile to $3,253 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,007, specifically in the 32140 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Florahome Assessed Value
$111,230
Average Putnam County Assessed Value
$96,560
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florahome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32140 | $20,290 | $57,930 | $111,230 | $189,765 | $288,752 |
Source: Ownwell
Property Tax Bills Across Florahome, Florida
In Florahome, located in Putnam County, FL, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county property appraiser and reflects the market value of your property. For a median home price of $111,230, tax bills can vary significantly. The 25th percentile tax bill is around $533, while the 75th percentile reaches approximately $1,962, and the 90th percentile can go up to $3,253. Several factors influence your property tax bill, including the assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the tax rates in Florahome are relatively moderate. This variability in tax bills can have a substantial impact on homeowners, affecting monthly budgets and long-term financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Florahome Tax Bill
$1,007
Average Putnam County Tax Bill
$977
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Florahome, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32140 | $259 | $533 | $1,007 | $1,962 | $3,253 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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