Vernon, Florida Property Taxes
The median property tax rate in Vernon, FL is 0.97%, slightly below the national median of 0.99% and significantly lower than the Florida state median of 1.14%. With the median home value in Vernon at $70,660, the typical annual property tax bill is $565, which is well below the national median of $2,690. Property taxes in Vernon are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Vernon'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 Vernon or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vernon, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$685
$649
Ownwell’s Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vernon 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 Vernon, Florida
Property taxes in Vernon, Florida, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Vernon is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vernon 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 Vernon's effective property tax rate to other areas in Washington County and the national median. For comparison, the zip code 32462 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Vernon provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vernon Tax Rate
0.97%
Average Washington County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vernon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32462 | 0.34% | 0.51% | 0.97% | 1.32% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Vernon, Florida
In Vernon, 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 Washington 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 Vernon, 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. For instance, in Vernon, the highest median tax bill is $565 in the 32462 zip code, which is also the lowest median tax bill. Knowing these figures and the valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vernon Assessed Value
$70,660
Average Washington County Assessed Value
$92,402
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vernon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32462 | $24,069 | $41,870 | $70,660 | $112,708 | $166,743 |
Source: Ownwell
Property Tax Bills Across Vernon, Florida
In Vernon, property tax bills are calculated by assessing the property's market value and applying the local tax rate. The median home price in this city is $70,660. Tax bills can vary significantly, with the 25th percentile paying around $349, while the 75th percentile sees bills as high as $1,026. Those in the 90th percentile may pay up to $1,602. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions. Homeowners in Vernon should be aware of these variables, as they directly impact their annual tax obligations. For example, properties in the zip code 32462 have a median tax bill of $565, which is the highest and lowest median tax bill recorded in the area. Comparatively, Vernon's property tax rates can be more manageable than the national median property tax rate of 0.99%, making it a potentially attractive location for homeowners seeking lower property taxes.
Average Vernon Tax Bill
$565
Average Washington County Tax Bill
$731
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Vernon, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32462 | $183 | $349 | $565 | $1,026 | $1,602 |
Source: Ownwell