Wellborn, Florida Property Taxes
The median property tax rate in Wellborn, FL is 1.17%, 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 $78,601 in Wellborn, the typical annual property tax bill amounts to $886, still below the national median of $2,690. Property taxes in Wellborn are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding the property tax system in Wellborn, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wellborn or another part of Suwannee County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wellborn, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$920
$853
Ownwell’s Wellborn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellborn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellborn 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 Wellborn, Florida
Property taxes in Wellborn, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellborn is 1.17%, higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Wellborn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellborn 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 Wellborn's effective property tax rate to other counties in Florida and the national median. For comparison, the 32094 zip code has the highest median property tax rate of 1.17%, while the 32094 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Wellborn provides valuable insights into the varying tax landscape across Suwannee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellborn Tax Rate
1.17%
Average Suwannee County Tax Rate
1.19%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellborn, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32094 | 0.62% | 0.96% | 1.17% | 1.71% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Wellborn, Florida
In Wellborn, Florida, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Suwannee County Appraisal District 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 Wellborn, 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 Wellborn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 32094 has the highest and lowest median tax bill, both at $886.
Average Wellborn Assessed Value
$78,601
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 Wellborn, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32094 | $36,331 | $53,471 | $78,601 | $122,981 | $180,431 |
Source: Ownwell
Property Tax Bills Across Wellborn, Florida
Property tax bills in Wellborn, located in Suwannee County, FL, are determined based on the assessed value of a property and the local tax rate. In Wellborn, the median home price is $78,601. The tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners, this means that their property taxes can vary significantly depending on the assessed value of their home and the specific tax rate applied. Factors such as property improvements, neighborhood developments, and changes in the local real estate market can influence the assessed value. In Wellborn, tax bills range widely, with the 25th percentile at $629 and the 75th percentile reaching $1,408. For those in the 90th percentile, tax bills can be as high as $2,133. Compared to the national median property tax rate of 0.99%, Wellborn's property taxes can be relatively moderate, but individual circumstances can lead to higher or lower tax bills.
Average Wellborn Tax Bill
$886
Average Suwannee County Tax Bill
$983
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellborn, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32094 | $378 | $629 | $886 | $1,408 | $2,133 |
Source: Ownwell