Shady Grove, Florida Property Taxes
The median property tax rate in Shady Grove, FL is 0.72%, which is significantly lower than both the national median of 0.99% and Florida's state median of 1.14%. With a median home value of $108,980, the typical annual property tax bill in Shady Grove comes to $915, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Shady Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Shady Grove or another part of Taylor County, a thorough grasp of the local property tax system is essential for financial planning and investment strategies.
Last Updated June 14, 2024
Shady Grove, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$785
$728
Ownwell’s Shady Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shady Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shady Grove 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 Shady Grove, Florida
Property taxes in Shady Grove, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Shady Grove is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Shady Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shady Grove 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 Shady Grove's effective property tax rate to other counties in Florida and the national median. For comparison, the 32357 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Shady Grove provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shady Grove Tax Rate
0.72%
Average Taylor County Tax Rate
0.85%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shady Grove, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32357 | 0.47% | 0.54% | 0.72% | 1.30% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Shady Grove, Florida
In Shady Grove, 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 Taylor 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 Shady Grove, 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 Shady Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 32357, with a median tax bill of $915.
Average Shady Grove Assessed Value
$108,980
Average Taylor County Assessed Value
$95,180
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shady Grove, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32357 | $43,194 | $80,710 | $108,980 | $167,560 | $321,396 |
Source: Ownwell
Property Tax Bills Across Shady Grove, Florida
In Shady Grove, located in Taylor County, FL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. Homeowners in Shady Grove can expect their property tax bills to vary significantly depending on their property's value and location within the city. For instance, the median home price in Shady Grove is $108,980. Property tax bills in the area range widely, with the 25th percentile at $551 and the 75th percentile at $1,488, reflecting the diversity in property values. The 90th percentile tax bill reaches up to $2,633. Compared to the national median property tax rate of 0.99%, Shady Grove's tax rates can be considered moderate, impacting homeowners by influencing their annual financial planning and housing affordability. Understanding these factors can help homeowners anticipate their property tax liabilities and manage their budgets more effectively.
Average Shady Grove Tax Bill
$915
Average Taylor County Tax Bill
$767
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Shady Grove, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32357 | $262 | $551 | $915 | $1,488 | $2,633 |
Source: Ownwell