Wildwood, Florida Property Taxes
The median property tax rate in Wildwood, FL is 0.95%, slightly lower than the national median of 0.99% and significantly below Florida's state median of 1.14%. With the median home value in Wildwood at $79,645, the typical annual property tax bill comes to $681, much lower than the national median of $2,690. Property taxes in Wildwood are calculated based on the tax assessed value, which is often less than the market value due to available exemptions such as primary residence and agricultural exemptions. Understanding Wildwood'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 Wildwood 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
Wildwood, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$757
$716
Ownwell’s Wildwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildwood 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 Wildwood, Florida
Property taxes in Wildwood, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildwood is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Wildwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildwood 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. For comparison, the 34785 zip code has the median property tax rate of 0.95%. Understanding how these cities compare with Wildwood provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wildwood Tax Rate
0.95%
Average Sumter County Tax Rate
1.08%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wildwood, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34785 | 0.40% | 0.52% | 0.95% | 1.29% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Wildwood, Florida
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wildwood, 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 Sumter 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 Wildwood, 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. The median home price in Wildwood is $79,645, with tax bills ranging from $387 at the 25th percentile to $2,522 at the 90th percentile. The zip code with the highest median tax bill is 34785, with a median tax bill of $681. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wildwood Assessed Value
$79,645
Average Sumter County Assessed Value
$280,650
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wildwood, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34785 | $26,776 | $54,162 | $79,645 | $148,070 | $240,779 |
Source: Ownwell
Property Tax Bills Across Wildwood, Florida
In Wildwood, located in Sumter County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the local property appraiser. The median home price in Wildwood is $79,645. Property taxes are then applied using the local tax rate, which varies but is influenced by the overall needs of the county to fund public services such as schools, infrastructure, and emergency services. For homeowners in Wildwood, the property tax bill can range significantly. At the 25th percentile, the tax bill is around $387, while at the 75th percentile, it reaches $1,304. The 90th percentile sees tax bills as high as $2,522. The highest and lowest median tax bills in the area both stand at $681, located in the 34785 zip code. These property taxes can have a considerable impact on homeowners, influencing their overall cost of living and potentially affecting their ability to buy or maintain their homes. Compared to the national median property tax rate of 0.99%, Wildwood's property taxes reflect the local economic and governmental landscape.
Average Wildwood Tax Bill
$681
Average Sumter County Tax Bill
$3,060
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildwood, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34785 | $239 | $387 | $681 | $1,304 | $2,522 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Sumter Property Appraiser | |
| Website | qpublic.schneidercorp.com |