Average Tax Assessment in Bay County
Real Estate Values and Property Tax Valuation in Bay County, Florida
Bay County has 86,002 properties with a cumulative value of $16.4B, representing 0.79% of all real estate value in Florida. Property taxes in Bay County totaled $177.5M, with an average homeowner paying $2,103 in property taxes, which is lower than the state average of $3,597. The average property tax rate in Bay County is 1.08%, which is lower than the state average of 1.34%. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
In Florida, property values are assessed on January 1st. Property value notices are issued in August and property tax appeal deadlines are typically 25 days from the date of the value notices, which is usually in September. Property tax bills are issued on November 1st.
Updated November 01, 2023
| Important Links | |
|---|---|
| Bay Equalization Office | (989) 895-4075 |
| Bay Clerk / Recorder | (850) 747-5104 |
| Bay Treasurer | (989) 895-4285 |
| Bay Property Appraiser | (850) 784-4095 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Value Notices Issued: | August |
| Property Tax Appeal Deadline: | September or 25 days from date of value notices |
| Property Tax Bills Issued: | November 1st |
| Real Property Tax Bill Due (1st of #): | March 31st |
| Available Exemptions | |
|---|---|
| Early Payment Discount | Available |
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
Don't Miss Your Property Tax Appeal Deadline
Real Estate Statistics in Bay County
Residential Property Taxes by Cities in Bay County
Bay County has an average property tax rate of 1.08%, which is slightly lower than the state average of 1.11%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Bay County property tax bill is estimated to be around $2,103.
Property tax rates vary across the cities in Bay County. Mexico Beach has the highest effective property tax rate at 1.48%, while Youngstown has the lowest effective property tax rate at 0.81%. This means that property owners in Mexico Beach will pay more in taxes than those in Youngstown. However, the difference in rates is not significant enough to make a major impact on the overall property tax burden in Bay County.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Bay County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fountain | $10,108 | $16,654 | $29,033 | $53,896 | $97,961 |
| Lynn Haven | $87,638 | $116,921 | $160,974 | $217,728 | $297,490 |
| Mexico Beach | $96,192 | $126,467 | $176,800 | $256,459 | $352,597 |
| Panama City Beach | $106,250 | $152,466 | $221,638 | $316,132 | $412,494 |
| Panama City | $42,660 | $77,581 | $138,258 | $214,072 | $314,767 |
| Youngstown | $21,337 | $32,026 | $62,579 | $120,009 | $175,111 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Bay County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fountain | $40 | $102 | $241 | $458 | $887 |
| Lynn Haven | $585 | $1,058 | $1,693 | $2,504 | $3,365 |
| Mexico Beach | $1,369 | $1,814 | $2,676 | $3,982 | $5,580 |
| Panama City Beach | $946 | $1,614 | $2,382 | $3,697 | $4,928 |
| Panama City | $399 | $754 | $1,462 | $2,402 | $3,519 |
| Youngstown | $40 | $257 | $469 | $991 | $1,624 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fountain | 0.40% | 0.61% | 0.83% | 0.85% | 0.91% |
| Lynn Haven | 0.67% | 0.90% | 1.05% | 1.15% | 1.13% |
| Mexico Beach | 1.42% | 1.43% | 1.51% | 1.55% | 1.58% |
| Panama City Beach | 0.89% | 1.06% | 1.07% | 1.17% | 1.19% |
| Panama City | 0.94% | 0.97% | 1.06% | 1.12% | 1.12% |
| Youngstown | 0.19% | 0.80% | 0.75% | 0.83% | 0.93% |
Reduce your property tax bill with Ownwell!
Real Estate Values in Bay County
The median home price in Bay County, Florida decreased by 13.10% from October 2022 to October 2023, from $418.8K to $365.0K. This decrease in home prices was accompanied by a slight increase in home inventory, from 2.2K in October 2022 to 2.3K in October 2023. This suggests that the decrease in home prices is likely due to a decrease in demand for homes in the area.
Average Home Value in Bay County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Bay County
Last updated: November 2023
Percent Change in New Home Listings in Bay County
Last updated: November 2023
Reduce your property tax bill with Ownwell
Mortgage Rates in Bay County
Mortgages in Bay County are a significant part of the local economy, with a total of $7.1 billion in outstanding loans. This represents a significant portion of the total home value in the county, and demonstrates the importance of home ownership in the area. The number of outstanding loans in Bay County is also quite high, with 36.6 thousand loans currently in place.
The median mortgage rate in Bay County varies significantly across cities, with Fountain having the highest rate at 5.03%, and Panama City Beach having the lowest rate at 3.94%. This variation in rates means that potential home buyers in Bay County should shop around to find the best deal for their needs. Ultimately, the total outstanding loan amount and the variation in rates across cities demonstrate the importance of mortgages in Bay County.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Bay County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fountain | $8,972 | $26,290 | $65,418 | $108,913 | $165,415 |
| Lynn Haven | $61,806 | $103,641 | $159,450 | $228,657 | $296,157 |
| Mexico Beach | $71,198 | $120,529 | $190,297 | $268,206 | $356,826 |
| Panama City Beach | $68,238 | $120,055 | $189,563 | $279,212 | $382,543 |
| Panama City | $48,301 | $89,082 | $152,086 | $226,613 | $308,062 |
| Youngstown | $25,177 | $49,604 | $90,809 | $146,580 | $203,457 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Bay County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fountain | 3.10% | 3.86% | 5.03% | 6.52% | 9.30% |
| Lynn Haven | 2.90% | 3.50% | 4.13% | 5.49% | 6.39% |
| Mexico Beach | 2.90% | 3.20% | 3.95% | 4.60% | 5.93% |
| Panama City Beach | 2.80% | 3.22% | 3.94% | 4.79% | 6.14% |
| Panama City | 2.90% | 3.38% | 4.02% | 5.25% | 6.33% |
| Youngstown | 3.01% | 3.75% | 4.60% | 6.00% | 7.00% |
Housing Expenses in Bay County, Florida
Reduce your property tax bill with Ownwell
With Ownwell's property tax monitoring service ensures you'll never overpay on property taxes again.
How Ownwell works?
- Enter your property address and get an instant estimate of your potential tax savings based on local market data and our historical tax savings in your area.
- Sign up online and authorize Ownwell to fight your tax bill in less than 5 minutes.
- Sit back and let us get to work. Ownwell handles everything start to finish with no up-front costs. It’s all backed by our industry-leading Savings-or-Free Guarantee.
- When we save you money our fee is just 25% of your savings. If you don't save, you don't pay. We will continue to monitor your property taxes every year to ensure that you never overpay or have to worry about your property taxes again.