Panama City Beach, Florida Property Taxes
Real Estate Values and Property Tax Valuation in Panama City Beach, Florida
Panama City Beach is home to 23,608 properties with a cumulative value of $6.1B, representing 37.06% of all real estate value in Bay County. Property taxes in Panama City Beach totaled $66.8M, with the average homeowner paying $2,864 in taxes compared to the county average of $2,103. The average property tax rate in Panama City Beach is 1.10%, slightly higher than the county average of 1.08%. Property taxes are based on the assessed value of the property, which is determined by the local government.
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 |
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Real Estate Statistics in Panama City Beach, Florida
Residential Property Tax by ZIP code in Panama City Beach, Florida
Panama City Beach has an average property tax rate of 1.10%, which is slightly higher than the average Bay County property tax rate of 1.08%. This means that property owners in Panama City Beach can expect to pay slightly more in taxes than those in other parts of the county. However, property tax rates in Panama City Beach vary significantly across ZIP codes. The ZIP code with the highest effective property tax rate is 32413, with a rate of 1.1%, while the ZIP code with the lowest effective property tax rate is 32407, with a rate of 1.09%. This variation is due to differences in home values across ZIP codes. In 2023, the total property taxes collected in Panama City Beach was $2,864.
Overall, Panama City Beach has slightly higher property tax rates than the rest of Bay County, but the rates vary significantly across ZIP codes. This variation is due to differences in home values across ZIP codes, with higher home values resulting in higher property tax rates. Property owners in Panama City Beach can expect to pay an average of 1.10% in property taxes, with the total property taxes collected in the city in 2023 being $2,864.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Panama City Beach, Florida. 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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32407 | $120,719 | $157,676 | $213,350 | $310,463 | $386,734 |
| 32413 | $99,677 | $150,374 | $228,645 | $323,000 | $437,177 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Panama City Beach, Florida.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32407 | $1,004 | $1,663 | $2,345 | $3,587 | $4,433 |
| 32413 | $925 | $1,557 | $2,418 | $3,761 | $5,153 |
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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32407 | 0.83% | 1.05% | 1.10% | 1.16% | 1.15% |
| 32413 | 0.93% | 1.04% | 1.06% | 1.16% | 1.18% |
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Real Estate Values in Panama City Beach, Florida
Average Home Value in Panama City Beach, Florida
Last updated: November 2023
We currently do not have this data but we are working to add this soon.
We currently do not have this data but we are working to add this soon.
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Housing Expenses in Panama City Beach, Florida
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for South region
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