Sarasota, Florida Property Taxes
The median property tax rate in Sarasota, FL is 1.05%, slightly higher than the national median of 0.99% but lower than the Florida state median of 1.14%. With the median home value in Sarasota at $371,900, the typical annual property tax bill reaches $3,514, surpassing the national median of $2,690. Property taxes in Sarasota are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sarasota'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 Sarasota 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
Sarasota, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,905
$3,696
$1,148
Average Sarasota, Florida Tax Savings
Ownwell’s Sarasota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sarasota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sarasota 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 Sarasota. 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 Sarasota, Florida
Property taxes in Sarasota, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sarasota is 1.05%, which is higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Sarasota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sarasota 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 Sarasota's effective property tax rate to other areas in Sarasota County and the national median. For comparison, the 34237 zip code has the highest median property tax rate of 1.27%, while the 34233 zip code has the lowest median tax rate of 0.81%. Understanding how these areas compare with Sarasota provides valuable insights into the varying tax landscape across Sarasota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sarasota Tax Rate
1.05%
Average Sarasota County Tax Rate
1.09%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sarasota, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | 0.46% | 0.61% | 1.04% | 1.25% | 1.34% |
| 34232 | 0.46% | 0.57% | 0.83% | 1.25% | 1.36% |
| 34233 | 0.50% | 0.64% | 0.81% | 1.21% | 1.32% |
| 34234 | 0.35% | 0.59% | 1.22% | 1.48% | 2.35% |
| 34235 | 0.49% | 0.63% | 0.94% | 1.22% | 1.33% |
| 34236 | 0.57% | 0.83% | 1.23% | 1.38% | 1.50% |
| 34237 | 0.35% | 0.58% | 1.27% | 1.42% | 1.57% |
| 34238 | 0.66% | 0.75% | 1.03% | 1.19% | 1.27% |
| 34239 | 0.38% | 0.54% | 0.95% | 1.30% | 1.44% |
| 34240 | 0.56% | 0.66% | 0.84% | 1.19% | 1.31% |
| 34241 | 0.52% | 0.68% | 0.83% | 1.20% | 1.32% |
| 34242 | 0.58% | 0.98% | 1.10% | 1.17% | 1.22% |
| 34243 | 0.51% | 0.62% | 0.85% | 1.20% | 1.31% |
Source: Ownwell
$1,148
Average Sarasota Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Sarasota, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sarasota, FL. 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 Sarasota 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. 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. In Sarasota, the zip code with the highest median tax bill is 34236, with a median tax bill of $8,661, while the zip code with the lowest median tax bill is 34237, with a median tax bill of $2,206. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sarasota Assessed Value
$371,900
Average Sarasota County Assessed Value
$349,900
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sarasota, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | $178,100 | $245,475 | $321,000 | $429,500 | $748,020 |
| 34232 | $179,350 | $233,025 | $296,900 | $371,200 | $461,600 |
| 34233 | $175,200 | $236,875 | $313,500 | $463,625 | $567,600 |
| 34234 | $92,940 | $142,600 | $209,200 | $299,700 | $478,860 |
| 34235 | $194,900 | $233,700 | $290,300 | $377,000 | $477,870 |
| 34236 | $337,750 | $491,725 | $826,900 | $1,572,200 | $2,983,500 |
| 34237 | $112,000 | $164,600 | $236,800 | $314,700 | $392,190 |
| 34238 | $223,700 | $329,125 | $433,700 | $591,200 | $755,860 |
| 34239 | $216,520 | $316,975 | $407,400 | $561,825 | $1,252,930 |
| 34240 | $337,760 | $442,600 | $579,100 | $804,750 | $1,168,040 |
| 34241 | $272,630 | $320,500 | $458,300 | $709,300 | $879,180 |
| 34242 | $442,800 | $549,700 | $785,600 | $1,232,000 | $2,019,380 |
| 34243 | $250,900 | $291,100 | $355,550 | $422,350 | $541,650 |
Source: Ownwell
$1,148
Average Sarasota Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Sarasota, Florida
In Sarasota, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the Sarasota County Property Appraiser. This assessed value is then multiplied by the local millage rate to determine the tax bill. Factors such as property improvements, location, and market trends can influence the assessed value. Homeowners in Sarasota experience a wide range of tax bills, with the 25th percentile at $2,198 and the 75th percentile at $5,609. The highest median tax bill in the area is $8,661 in the 34236 zip code, while the lowest median tax bill is $2,206 in the 34237 zip code. For homeowners, high property taxes can be a significant financial burden. Ownwell can help by providing expert property tax appeal and exemption services, ensuring that homeowners are not overpaying. By leveraging local market knowledge and data, Ownwell identifies discrepancies in assessed values and advocates for fair adjustments, potentially saving homeowners thousands of dollars on their property tax bills.
Average Sarasota Tax Bill
$3,514
Average Sarasota County Tax Bill
$3,451
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarasota, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | $1,186 | $1,863 | $2,997 | $4,404 | $6,472 |
| 34232 | $1,108 | $1,688 | $2,583 | $3,619 | $4,616 |
| 34233 | $1,158 | $1,884 | $2,874 | $3,888 | $5,163 |
| 34234 | $678 | $1,341 | $2,382 | $3,261 | $4,970 |
| 34235 | $1,250 | $1,946 | $2,759 | $3,575 | $4,606 |
| 34236 | $3,099 | $5,170 | $8,661 | $16,158 | $32,407 |
| 34237 | $726 | $1,301 | $2,206 | $3,441 | $4,758 |
| 34238 | $1,968 | $2,913 | $4,171 | $5,584 | $7,306 |
| 34239 | $1,328 | $2,099 | $3,773 | $5,724 | $11,114 |
| 34240 | $2,489 | $3,547 | $4,987 | $7,619 | $11,472 |
| 34241 | $1,799 | $2,747 | $4,216 | $6,468 | $9,043 |
| 34242 | $4,179 | $5,636 | $7,925 | $11,708 | $18,395 |
| 34243 | $1,639 | $2,336 | $3,204 | $4,099 | $5,044 |
Source: Ownwell
$1,148
Average Sarasota 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 | |
|---|---|
| Sarasota Property Appraiser | |
| Website | www.sc-pa.com |
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