Lake Butler, Union County, Florida Property Taxes
Median Lake Butler, FL effective property tax rate: 0.97%, significantly lower than the national median of 1.02%, but lower than the Florida state median of 1.14%.
Median Lake Butler, FL home value: $73,699
Median annual Lake Butler, FL tax bill: $680, $1,720 lower than the national median property tax bill of $2,400.
How are property taxes in Union County calculated?
Property taxes in Lake Butler, FL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lake Butler’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Butler, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Butler, Union County, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.97%
Estimate Property Tax Bill
$715
$663
Property Tax Rates Across Lake Butler, Union County, Florida
Local government entities set tax rates, which can vary widely within a state. The process involves each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Votes and laws also play a role in setting tax rates and budgets, but this is the annual process in a nutshell.
In Lake Butler, located in Union County, FL, the effective property tax rate stands at 0.97%. This rate is consistent across the city and the county, reflecting a uniform approach to property taxation in the area. When compared to the national median property tax rate of 1.02%, Lake Butler's rate is slightly lower, offering a more favorable environment for property owners. This can be particularly appealing for those looking to reduce their overall property tax burden. By understanding these rates and how they compare on a larger scale, property owners can make informed decisions about their investments and financial planning.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Butler Tax Rate
0.97%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Union County Tax Rate
0.97%
Median Effective Florida Tax Rate
1.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Butler, Union County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32054 | 0.48% | 0.72% | 0.97% | 1.49% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Lake Butler, Union County, Florida
When examining property taxes in Lake Butler, FL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Union County Property Appraiser estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Union County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake Butler. For example, the median home price in Lake Butler is $73,699, with tax bills ranging significantly across the county. The 32054 zip code has the highest median home price at $73,699.
Property Tax Assessment Values Across Lake Butler, Union County, Florida
Source: Ownwell
$43,766
$58,733
$73,699
Median Lake Butler Market Value
$73,699
Median Union County Market Value
$71,721
Median Florida Market Value
$276,648
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Butler, Union County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32054 | $29,044 | $46,268 | $73,699 | $118,423 | $167,639 |
Source: Ownwell
Property Tax Bills Across Lake Butler, Union County, Florida
In Lake Butler, located in Union County, FL, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate. For homeowners in Lake Butler, the median property tax bill is $680, which is significantly lower than the national median of $2,400. Factors influencing the tax bill include the property's assessed value and any applicable exemptions or deductions. Homeowners may find themselves paying a tax bill as low as $424 at the 25th percentile or as high as $1,911 at the 90th percentile.
The impact on homeowners is significant, as property taxes are a recurring cost that can affect overall affordability. Ownwell offers a valuable service by helping homeowners appeal their property tax assessments and apply for exemptions, potentially lowering their tax bills. By leveraging expertise and experience, Ownwell can assist homeowners in navigating the complexities of property tax systems, ultimately leading to substantial savings.
Median Lake Butler Tax Bill
$680
Median Union County Tax Bill
$664
Median Florida Tax Bill
$2,953
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Butler, Union County, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32054 | $206 | $424 | $680 | $1,244 | $1,911 |
Source: Ownwell