Walton County Property Taxes
The median property tax rate in Walton County is 0.80%, which is significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Walton County at $398,232, the typical annual property tax bill reaches $2,924, which is slightly above the national median of $2,690. Property taxes in Walton County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Walton 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 Santa Rosa Beach or another part of Walton County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walton County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$3,186
$3,011
Ownwell’s Walton County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Walton 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 Walton County, Florida
Property taxes in Walton County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Walton County is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Walton County set these rates annually, and they can vary significantly between different areas within the county. Each year, Walton 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 Panama City Beach has one of the higher property tax rates in Florida at 0.90%, while the city of Crestview boasts one of the lowest at 0.51%. Analyzing how Walton County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Walton County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walton County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crestview | 0.28% | 0.37% | 0.51% | 0.89% | 1.05% |
| Defuniak Springs | 0.29% | 0.40% | 0.69% | 1.04% | 1.22% |
| Freeport | 0.32% | 0.51% | 0.79% | 1.09% | 1.28% |
| Inlet Beach | 0.56% | 0.75% | 0.81% | 0.93% | 0.93% |
| Laurel Hill | 0.26% | 0.37% | 0.67% | 0.90% | 1.06% |
| Miramar Beach | 0.53% | 0.77% | 0.83% | 0.90% | 0.93% |
| Niceville | 0.22% | 0.36% | 0.51% | 0.79% | 0.85% |
| Panama City Beach | 0.39% | 0.65% | 0.90% | 0.93% | 0.93% |
| Ponce De Leon | 0.27% | 0.38% | 0.71% | 0.96% | 1.22% |
| Santa Rosa Beach | 0.40% | 0.62% | 0.79% | 0.87% | 0.93% |
| Vernon | 0.31% | 0.74% | 0.76% | 0.79% | 0.81% |
| Westville | 0.27% | 0.36% | 0.65% | 0.98% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Walton County, Florida
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Walton County, FL. 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 Walton 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 Walton 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 example, Panama City Beach has the highest median tax bill at $10,998, while Ponce de Leon has the lowest at $294. Being aware of these valuation processes in Walton 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 Walton County, Florida
Source: Ownwell
$51,685
$710,978
$1,370,271
Average Walton County Assessed Value
$398,232
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walton County, Florida
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crestview | $22,057 | $40,415 | $70,745 | $139,827 | $189,237 |
| Defuniak Springs | $18,923 | $35,183 | $75,990 | $141,575 | $218,174 |
| Freeport | $41,992 | $98,920 | $258,503 | $357,323 | $461,768 |
| Inlet Beach | $473,684 | $641,786 | $1,003,844 | $1,801,933 | $3,573,175 |
| Laurel Hill | $19,850 | $46,245 | $76,277 | $130,041 | $207,325 |
| Miramar Beach | $219,240 | $319,788 | $466,200 | $694,721 | $1,155,840 |
| Niceville | $68,455 | $120,280 | $191,216 | $279,090 | $388,553 |
| Panama City Beach | $152,900 | $156,275 | $1,370,271 | $1,380,414 | $1,380,414 |
| Ponce De Leon | $12,614 | $22,926 | $54,048 | $106,525 | $187,286 |
| Santa Rosa Beach | $223,948 | $357,916 | $615,292 | $1,165,941 | $2,060,858 |
| Vernon | $12,787 | $19,859 | $51,685 | $99,300 | $170,455 |
| Westville | $12,249 | $22,094 | $52,608 | $101,670 | $148,144 |
Source: Ownwell
Property Tax Bills Across Walton County, Florida
Property tax bills in Walton County, FL, are determined by the assessed value of a property, which is calculated based on its market value. Local tax authorities assess properties annually, taking into account factors such as property size, location, and condition. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, a home in Walton County with a median home price of $398,232 can expect varying tax bills depending on specific circumstances. Homeowners in the 25th percentile may see tax bills around $1,018, while those in the 75th percentile could face bills as high as $5,866. At the 90th percentile, tax bills can reach up to $12,121. Comparatively, Panama City Beach has the highest median tax bill at $10,998, while Ponce De Leon has the lowest at $294. These variances underscore the importance of understanding local property assessments and tax rates to anticipate financial obligations accurately.
Average Walton County Tax Bill
$2,924
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton County, Florida
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Crestview | $87 | $199 | $395 | $688 | $1,050 |
| Defuniak Springs | $100 | $225 | $435 | $868 | $1,431 |
| Freeport | $272 | $571 | $1,651 | $2,923 | $3,952 |
| Inlet Beach | $2,951 | $4,844 | $7,804 | $14,731 | $29,442 |
| Laurel Hill | $97 | $233 | $411 | $766 | $1,336 |
| Miramar Beach | $1,488 | $2,380 | $3,688 | $5,546 | $9,075 |
| Niceville | $297 | $533 | $952 | $1,528 | $2,220 |
| Panama City Beach | $604 | $1,233 | $10,998 | $12,652 | $12,793 |
| Ponce De Leon | $75 | $136 | $294 | $641 | $1,106 |
| Santa Rosa Beach | $1,141 | $2,291 | $4,315 | $8,785 | $16,222 |
| Vernon | $81 | $139 | $346 | $660 | $1,155 |
| Westville | $75 | $157 | $294 | $544 | $947 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |