Suwannee County Property Taxes
The median property tax rate in Suwannee County is 1.19%, which is higher than both the national median of 0.99% and the Florida state median of 1.14%. With a median home value of $82,568, the typical annual property tax bill in Suwannee County is $983, which is below the national median of $2,690. Property taxes in Suwannee County are calculated based on the assessed value, often lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Suwannee County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Live Oak or another part of Suwannee County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Suwannee County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$983
$929
Ownwell’s Suwannee County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Suwannee County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Suwannee County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Suwannee County, Florida
Property taxes in Suwannee County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Suwannee County is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within Suwannee County set these rates annually, and they can vary significantly between different areas within the county. Each year, Suwannee County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of McAlpin has one of the higher property tax rates in Florida at 2.04%, while the city of Mc Alpin boasts one of the lowest at 1.14%. Analyzing how Suwannee County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Suwannee County Tax Rate
1.19%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Suwannee County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Branford | 0.62% | 0.96% | 1.25% | 1.97% | 2.24% |
| Dowling Park | 1.38% | 1.38% | 1.38% | 1.38% | 1.38% |
| Lake City | 0.65% | 0.97% | 1.16% | 1.74% | 2.15% |
| Live Oak | 0.67% | 0.95% | 1.19% | 1.89% | 2.41% |
| Mcalpin | 1.35% | 1.65% | 2.04% | 2.33% | 2.48% |
| Mc Alpin | 0.65% | 0.94% | 1.14% | 1.62% | 1.97% |
| O Brien | 0.71% | 0.97% | 1.19% | 1.74% | 2.17% |
| Wellborn | 0.62% | 0.96% | 1.17% | 1.71% | 2.22% |
| White Springs | 0.44% | 0.90% | 1.30% | 1.79% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Suwannee County, Florida
In Suwannee County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Suwannee County Appraisal District. The assessed value, however, 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 in Suwannee County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, residents in Dowling Park face the highest median tax bill at $3,270, while those in White Springs have the lowest at $727. Being aware of these valuation processes in Suwannee County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Suwannee County, Florida
Source: Ownwell
$63,987
$150,308
$236,628
Average Suwannee County Assessed Value
$82,568
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Suwannee County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Branford | $29,862 | $46,216 | $78,505 | $122,314 | $184,510 |
| Dowling Park | $236,628 | $236,628 | $236,628 | $236,628 | $236,628 |
| Lake City | $38,656 | $56,188 | $84,387 | $119,795 | $165,173 |
| Live Oak | $32,613 | $52,421 | $83,157 | $129,511 | $185,166 |
| Mcalpin | $35,859 | $42,158 | $67,864 | $136,549 | $220,209 |
| Mc Alpin | $43,471 | $65,298 | $95,403 | $152,267 | $208,300 |
| O Brien | $37,079 | $54,984 | $85,072 | $128,460 | $191,721 |
| Wellborn | $36,331 | $53,471 | $78,601 | $122,981 | $180,431 |
| White Springs | $27,736 | $38,989 | $63,987 | $94,944 | $115,452 |
Source: Ownwell
Property Tax Bills Across Suwannee County, Florida
In Suwannee County, FL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For homeowners in Suwannee County, the median home price is $82,568. Property tax bills can vary significantly, with the 25th percentile tax bill at $665 and the 75th percentile at $1,595. At the 90th percentile, homeowners can expect to pay around $2,352. Comparatively, the highest median tax bill in the county is $3,270 in Dowling Park, while the lowest is $727 in White Springs. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated helps homeowners plan their finances more effectively.
Average Suwannee County Tax Bill
$983
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Suwannee County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Branford | $345 | $593 | $949 | $1,668 | $2,566 |
| Dowling Park | $3,270 | $3,270 | $3,270 | $3,270 | $3,270 |
| Lake City | $378 | $709 | $971 | $1,488 | $2,178 |
| Live Oak | $371 | $677 | $998 | $1,611 | $2,370 |
| Mcalpin | $880 | $974 | $1,334 | $2,020 | $2,699 |
| Mc Alpin | $398 | $724 | $1,121 | $1,742 | $2,476 |
| O Brien | $409 | $710 | $1,000 | $1,587 | $2,292 |
| Wellborn | $378 | $629 | $886 | $1,408 | $2,133 |
| White Springs | $350 | $523 | $727 | $879 | $1,343 |
Source: Ownwell
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