Bagdad, Florida Property Taxes
The median property tax rate in Bagdad, FL is 0.91%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Bagdad at $187,966, the typical annual property tax bill amounts to $1,714, falling below the national median of $2,690. Property taxes in Bagdad are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bagdad'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 Bagdad 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
Bagdad, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,710
$1,617
Ownwell’s Bagdad Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bagdad with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bagdad 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 Bagdad, Florida
Property taxes in Bagdad, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bagdad is 0.91%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Bagdad set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bagdad 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 Bagdad's effective property tax rate to other areas in Florida and the national median. For comparison, the 32530 zip code has both the highest and lowest median property tax rates in the region, each at 0.91%. Understanding how these areas compare with Bagdad provides valuable insights into the varying tax landscape across Santa Rosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bagdad Tax Rate
0.91%
Average Santa Rosa County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bagdad, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32530 | 0.84% | 0.87% | 0.91% | 0.95% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Bagdad, Florida
In Bagdad, 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 Santa Rosa 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 Bagdad, 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 in Bagdad helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bagdad is $1714 in the 32530 zip code, while the lowest is also $1714 in the same zip code.
Average Bagdad Assessed Value
$187,966
Average Santa Rosa County Assessed Value
$224,182
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bagdad, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32530 | $183,938 | $185,448 | $187,966 | $190,483 | $191,993 |
Source: Ownwell
Property Tax Bills Across Bagdad, Florida
In Bagdad, located in Santa Rosa County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county property appraiser and reflects the market value of the property. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Bagdad, understanding these factors is crucial. The median home price in Bagdad is $187,966, and the property tax bills vary significantly. For instance, the tax bill at the 25th percentile is $1,614, while at the 75th percentile, it is $1,814. At the 90th percentile, it reaches $1,874. This range indicates how different assessments and property values can influence the tax amount. Compared to the national median property tax rate of 0.99%, Bagdad's property taxes can be seen as relatively moderate. Understanding these aspects can help homeowners budget more effectively and anticipate their annual expenses.
Average Bagdad Tax Bill
$1,714
Average Santa Rosa County Tax Bill
$1,730
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Bagdad, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32530 | $1,554 | $1,614 | $1,714 | $1,814 | $1,874 |
Source: Ownwell