Average Tax Assessment in Citrus County
Real Estate Values and Property Tax Valuation in Citrus County, Florida
Citrus County is home to 129,265 properties with a cumulative value of $11.6B, representing 0.56% of all real estate value in Florida. Property taxes in Citrus County totaled $123.7M, with an average homeowner paying $957 in property taxes compared to the state average of $3,597. The average property tax rate in Citrus County is 1.07%, lower than the state average of 1.34%. Properties are valued for tax purposes based on their estimated 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 | |
|---|---|
| Citrus Property Appraiser | (352) 341-6600 |
| 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 Citrus County
Residential Property Taxes by Cities in Citrus County
Citrus County has an average property tax rate of 1.07%, which is slightly lower than the state average of 1.08%. This rate applies to all properties in the county, regardless of location. However, the effective property tax rate can vary significantly from city to city. Inglis has the highest effective property tax rate at 1.21%, while Floral City has the lowest at 0.98%. This means that property owners in Inglis will pay more in taxes than those in Floral City.
Overall, Citrus County has a relatively low property tax rate compared to other counties in Florida. This makes it an attractive option for those looking to purchase a home or invest in real estate. However, it is important to consider the effective property tax rate when making a decision, as this can vary significantly from city to city.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Citrus 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 |
|---|---|---|---|---|---|
| Beverly Hills | $20,105 | $65,797 | $102,122 | $206,759 | $287,190 |
| Citrus Springs | $2,510 | $2,740 | $3,060 | $3,960 | $134,831 |
| Crystal River | $4,450 | $8,450 | $68,723 | $143,709 | $250,526 |
| Dunnellon | $2,560 | $2,880 | $5,560 | $82,738 | $171,166 |
| Floral City | $8,592 | $31,734 | $77,990 | $137,688 | $208,636 |
| Hernando | $7,357 | $22,675 | $99,210 | $206,921 | $296,851 |
| Homosassa | $7,200 | $10,500 | $81,774 | $168,488 | $236,299 |
| Inglis | $4,250 | $7,675 | $43,920 | $189,865 | $320,017 |
| Inverness | $2,960 | $4,500 | $78,420 | $130,252 | $185,703 |
| Lecanto | $15,730 | $47,930 | $137,792 | $192,453 | $261,984 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Citrus County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | $282 | $466 | $1,012 | $1,908 | $3,054 |
| Citrus Springs | $71 | $88 | $100 | $259 | $1,141 |
| Crystal River | $62 | $114 | $568 | $1,495 | $2,987 |
| Dunnellon | $66 | $90 | $227 | $656 | $1,688 |
| Floral City | $105 | $288 | $658 | $1,267 | $2,092 |
| Hernando | $102 | $211 | $911 | $2,159 | $3,469 |
| Homosassa | $100 | $196 | $661 | $1,662 | $2,722 |
| Inglis | $65 | $110 | $472 | $2,085 | $3,904 |
| Inverness | $42 | $65 | $563 | $1,287 | $2,058 |
| Lecanto | $172 | $453 | $1,118 | $1,998 | $2,983 |
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 |
|---|---|---|---|---|---|
| Beverly Hills | 1.40% | 0.71% | 0.99% | 0.92% | 1.06% |
| Citrus Springs | 2.83% | 3.21% | 3.27% | 6.54% | 0.85% |
| Crystal River | 1.39% | 1.35% | 0.83% | 1.04% | 1.19% |
| Dunnellon | 2.58% | 3.12% | 4.08% | 0.79% | 0.99% |
| Floral City | 1.22% | 0.91% | 0.84% | 0.92% | 1.00% |
| Hernando | 1.39% | 0.93% | 0.92% | 1.04% | 1.17% |
| Homosassa | 1.39% | 1.87% | 0.81% | 0.99% | 1.15% |
| Inglis | 1.53% | 1.43% | 1.07% | 1.10% | 1.22% |
| Inverness | 1.42% | 1.44% | 0.72% | 0.99% | 1.11% |
| Lecanto | 1.09% | 0.95% | 0.81% | 1.04% | 1.14% |
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Real Estate Values in Citrus County
The median home price in Citrus County, Florida has increased by 7.22% from October 2022 to October 2023, from $279.0K to $285.0K. This is a positive sign for the housing market in the area, as it indicates that prices are on the rise. At the same time, the home inventory in Citrus County has decreased from 951 in October 2022 to 829 in October 2023, indicating that there is a higher demand for homes in the area. This could be due to the increasing popularity of the area as a desirable place to live.
Average Home Value in Citrus County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Citrus County
Last updated: November 2023
Percent Change in New Home Listings in Citrus County
Last updated: November 2023
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Mortgage Rates in Citrus County
Mortgages in Citrus County are a major source of financing for homeowners. According to the latest figures, there is a total of $3.7 billion in outstanding loans across the county, with 26.9 thousand outstanding loans. This represents a significant percentage of the total home value in the county. The median mortgage rate in Citrus County varies across cities, with Citrus Springs having the highest median rate of 4.5%, while Beverly Hills has the lowest median rate of 4.01%. This variation in rates across cities allows homeowners to find the best deal for their needs.
Overall, mortgages in Citrus County provide a great opportunity for homeowners to finance their homes. With a total of $3.7 billion in outstanding loans and a wide range of rates across cities, homeowners can find the best deal for their needs. This allows them to purchase their dream home and make their financial dreams come true.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Citrus County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | $35,444 | $61,162 | $103,356 | $171,647 | $257,896 |
| Citrus Springs | $12,104 | $44,557 | $99,279 | $154,953 | $198,133 |
| Crystal River | $27,556 | $56,726 | $104,630 | $172,923 | $274,368 |
| Dunnellon | $12,908 | $47,896 | $104,947 | $172,278 | $233,460 |
| Floral City | $23,542 | $47,079 | $91,255 | $152,817 | $238,849 |
| Hernando | $39,521 | $77,675 | $142,202 | $225,904 | $335,918 |
| Homosassa | $27,785 | $60,368 | $112,680 | $181,459 | $255,231 |
| Inglis | $11,468 | $62,769 | $159,840 | $229,322 | $311,834 |
| Inverness | $32,617 | $56,736 | $97,793 | $147,257 | $209,868 |
| Lecanto | $39,896 | $74,297 | $125,556 | $185,882 | $257,264 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Citrus County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beverly Hills | 2.90% | 3.37% | 4.01% | 5.11% | 6.30% |
| Citrus Springs | 2.90% | 3.55% | 4.50% | 6.10% | 7.90% |
| Crystal River | 2.90% | 3.50% | 4.19% | 5.68% | 6.89% |
| Dunnellon | 2.90% | 3.55% | 4.43% | 6.04% | 8.11% |
| Floral City | 2.90% | 3.62% | 4.44% | 6.00% | 7.14% |
| Hernando | 2.90% | 3.43% | 4.08% | 5.36% | 6.46% |
| Homosassa | 2.90% | 3.50% | 4.19% | 5.51% | 6.50% |
| Inglis | 3.00% | 3.37% | 4.04% | 5.62% | 7.42% |
| Inverness | 2.90% | 3.48% | 4.17% | 5.50% | 6.52% |
| Lecanto | 2.90% | 3.46% | 4.10% | 5.25% | 6.50% |
Housing Expenses in Citrus County, Florida
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