Hutchinson Island, Florida Property Taxes
The median property tax rate in Hutchinson Island, FL is 1.58%, significantly higher than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Hutchinson Island at $396,250, the typical annual property tax bill reaches $5,674, far exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Hutchinson Island's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hutchinson Island or another part of St. Lucie County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hutchinson Island, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$6,261
$5,919
Ownwell’s Hutchinson Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hutchinson Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hutchinson Island 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 St. Lucie County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hutchinson Island, Florida
Property taxes in Hutchinson Island, Florida, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hutchinson Island is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hutchinson Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hutchinson Island 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 Hutchinson Island's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 34949 has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Hutchinson Island provides valuable insights into the varying tax landscape across St. Lucie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hutchinson Island Tax Rate
1.58%
Average St. Lucie County Tax Rate
1.39%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hutchinson Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34949 | 0.71% | 1.01% | 1.58% | 1.78% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Hutchinson Island, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hutchinson Island, 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 St. Lucie 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. Being aware of these valuation processes in Hutchinson Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 34949 has the highest and lowest median tax bill at $5,674.
Property Tax Assessment Values Across Hutchinson Island, Florida
Source: Ownwell
$152,600
$361,550
$570,500
Average Hutchinson Island Assessed Value
$396,250
Average St. Lucie County Assessed Value
$307,200
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hutchinson Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34949 | $186,800 | $284,950 | $396,250 | $579,625 | $807,000 |
Source: Ownwell
Property Tax Bills Across Hutchinson Island, Florida
In Hutchinson Island, located in St. Lucie 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 assessor and reflects the market value of the property. Homeowners in this region face a median property tax bill of $5,674, which is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary widely, with homeowners at the 25th percentile paying around $3,473, while those at the 75th percentile see bills of approximately $8,113. At the 90th percentile, the tax bill can soar to $11,648. These factors, including market value fluctuations and local tax rates, directly impact homeowners by affecting their annual financial obligations. Understanding these components helps residents anticipate their yearly expenses and plan accordingly.
Average Hutchinson Island Tax Bill
$5,674
Average St. Lucie County Tax Bill
$3,974
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Hutchinson Island, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34949 | $2,010 | $3,473 | $5,674 | $8,113 | $11,648 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| St. Lucie Property Appraiser | |
| Website | paslc.gov |