Miramar Beach, Florida Property Taxes
The median property tax rate in Miramar Beach, FL is 0.83%, which is lower than both the national median of 0.99% and the Florida state median of 1.14%. With the median home value in Miramar Beach at $466,200, the typical annual property tax bill reaches $3,688, surpassing the national median of $2,690. Property taxes in Miramar Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Miramar Beach'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 Miramar Beach 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
Miramar Beach, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$3,869
$3,591
Ownwell’s Miramar Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miramar Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miramar Beach 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 Miramar Beach, Florida
Property taxes in Miramar Beach, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miramar Beach is 0.83%, which is below the U.S. national median of 0.99%. Local government entities within Miramar Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miramar Beach 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 Miramar Beach's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 32550 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Miramar Beach 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 Miramar Beach Tax Rate
0.83%
Average Walton County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miramar Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | 0.53% | 0.77% | 0.83% | 0.90% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Miramar Beach, Florida
In Miramar Beach, 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 Miramar Beach, 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. Notably, the highest and lowest median tax bills in Miramar Beach are both $3,688 in the 32550 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Miramar Beach, Florida
Source: Ownwell
$51,685
$710,978
$1,370,271
Average Miramar Beach Assessed Value
$466,200
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 Miramar Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | $219,240 | $319,788 | $466,200 | $694,721 | $1,155,840 |
Source: Ownwell
Property Tax Bills Across Miramar Beach, Florida
In Miramar Beach, Walton County, FL, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $466,200, homeowners can expect varying tax bills depending on specific factors such as exemptions and local tax rates. Homeowners in the 25th percentile might see tax bills around $2,380, while those in the 75th percentile could face amounts closer to $5,546. At the higher end, the 90th percentile tax bill reaches approximately $9,075. The zip code 32550 consistently shows the highest median tax bill in the area at $3,688, which is still below the national median rate of 0.99%. These tax bills significantly impact homeowners' annual expenses, making it essential to understand the local assessment process and potential exemptions to manage costs effectively.
Average Miramar Beach Tax Bill
$3,688
Average Walton County Tax Bill
$2,924
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Miramar Beach, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | $1,488 | $2,380 | $3,688 | $5,546 | $9,075 |
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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