Milton, Florida Property Taxes
The median property tax rate in Milton, FL is 0.76%, notably lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Milton at $181,076, the typical annual property tax bill is $1,320, which is significantly below the national median of $2,690. Property taxes in Milton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Milton'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 Milton 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
Milton, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,376
$1,301
Ownwell’s Milton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton, Florida
Property taxes in Milton, Florida, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton is 0.76%, lower than both the Florida state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in Florida and the national median. For comparison, the 32565 zip code has the highest median property tax rate of 1.25%, while the 32570 zip code has the lowest median tax rate of 0.70%. Understanding how these cities compare with Milton 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 Milton Tax Rate
0.76%
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 Milton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | 1.23% | 1.24% | 1.25% | 1.26% | 1.26% |
| 32570 | 0.38% | 0.50% | 0.70% | 1.16% | 1.31% |
| 32571 | 0.38% | 0.58% | 0.79% | 1.15% | 1.27% |
| 32583 | 0.38% | 0.52% | 0.77% | 1.19% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Milton, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Milton, 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 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 Milton, 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 highest median tax bill in Milton is $1,641 in zip code 32571, while the lowest median tax bill is $775 in zip code 32565. 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 Milton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Milton Assessed Value
$181,076
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 Milton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | $60,330 | $61,073 | $62,312 | $63,551 | $64,294 |
| 32570 | $67,701 | $114,317 | $165,286 | $224,669 | $287,133 |
| 32571 | $68,155 | $143,438 | $211,246 | $276,029 | $361,192 |
| 32583 | $44,006 | $89,086 | $162,568 | $225,702 | $307,192 |
Source: Ownwell
Property Tax Bills Across Milton, Florida
In Milton, property tax bills are calculated based on the assessed value of a home, which is determined by the Santa Rosa County Property Appraiser. The assessed value is a percentage of the market value, which can fluctuate based on real estate trends and improvements made to the property. Once the assessed value is established, the local tax rate, or millage rate, is applied. This rate is set by various taxing authorities within the county and can vary yearly. Homeowners in Milton can expect their property tax bills to reflect a range of values. For instance, the 25th percentile tax bill is around $643, while the 75th percentile reaches up to $2,192. The 90th percentile tax bill can be as high as $3,094. The highest median tax bill in the area is $1,641 in the 32571 zip code, whereas the lowest median tax bill is $775 in the 32565 zip code. These figures highlight the variability in property tax bills, which can significantly impact household budgets.
Average Milton Tax Bill
$1,320
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 Milton, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32565 | $761 | $766 | $775 | $785 | $790 |
| 32570 | $349 | $609 | $1,167 | $1,865 | $2,653 |
| 32571 | $407 | $843 | $1,641 | $2,562 | $3,430 |
| 32583 | $282 | $526 | $1,093 | $1,991 | $3,001 |
Source: Ownwell