Laurel Hill, Florida Property Taxes
The median property tax rate in Laurel Hill, FL is 0.67%, significantly lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Laurel Hill, the typical annual property tax bill amounts to $411, well below the national median of $2,690. Property taxes in Laurel Hill are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Laurel Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Laurel Hill or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Laurel Hill, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$511
$474
Ownwell’s Laurel Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laurel Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurel Hill 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 Walton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Laurel Hill, Florida
Property taxes in Laurel Hill, Florida, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurel Hill is 0.67%, which is lower than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Laurel Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurel Hill 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 Laurel Hill's effective property tax rate to other counties in Florida and the national median. For comparison, the zip code 32567 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Laurel Hill provides valuable insights into the varying tax landscape across Walton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurel Hill Tax Rate
0.67%
Average Walton County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurel Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32567 | 0.26% | 0.37% | 0.67% | 0.90% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Laurel Hill, Florida
In Laurel Hill, 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 Walton County Property Appraiser 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 Laurel Hill, 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 Laurel Hill 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 in the area is 32567, with a median tax bill of $411.
Average Laurel Hill Assessed Value
$76,277
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 Laurel Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32567 | $19,850 | $46,245 | $76,277 | $130,041 | $207,325 |
Source: Ownwell
Property Tax Bills Across Laurel Hill, Florida
In Laurel Hill, located in Walton County, FL, property tax bills are calculated based on the assessed value of the home, which is determined by the county's property appraiser. The assessed value is then multiplied by the local tax rate to produce the annual tax bill. For homeowners in Laurel Hill, the median home price is $76,277. With a national median property tax rate of 0.99%, local tax bills can vary significantly. For instance, tax bills in the 25th percentile are around $233, while those in the 75th percentile can reach up to $766. At the 90th percentile, homeowners might see tax bills as high as $1,336. The highest and lowest median tax bills in the area are both $411, indicating some level of consistency in certain regions. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for Laurel Hill residents. Understanding these factors can help homeowners better anticipate and manage their annual expenses.
Average Laurel Hill Tax Bill
$411
Average Walton County Tax Bill
$2,924
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurel Hill, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32567 | $97 | $233 | $411 | $766 | $1,336 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
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