Average Tax Assessment in Gulf County
Real Estate Values and Property Tax Valuation in Gulf County, Florida
Gulf County has 8,290 properties with a cumulative value of $1.7B, representing 0.08% of all real estate value in Florida. The average property tax rate in Gulf County is 1.11%, which is lower than the state average of 1.34%. Property taxes in Gulf County totaled $19.2M, with the average homeowner paying $2,317 in property taxes compared to the state average of $3,597. 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 | |
|---|---|
| Gulf Property Appraiser | (850) 229-6115 |
| 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 Gulf County
Residential Property Taxes by Cities in Gulf County
Gulf County has an average property tax rate of 1.11%, which is slightly lower than the national average of 1.19%. This rate is applied to all properties in the county, regardless of location. However, the effective property tax rate can vary significantly between cities. For example, Port Saint Joe has the highest effective property tax rate in the county at 1.14%, while Wewahitchka has the lowest effective property tax rate at 0.88%. This means that property owners in Port Saint Joe will pay an average of $2,340 in property taxes, while property owners in Wewahitchka will pay an average of $2,093.
Overall, Gulf County has a relatively low property tax rate compared to the rest of the country. However, there is still a significant variation in effective property tax rates between cities. Property owners should be aware of the differences in rates when considering where to purchase a home or other property in the county.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Gulf 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 |
|---|---|---|---|---|---|
| Port Saint Joe | $59,878 | $127,596 | $212,115 | $352,455 | $607,175 |
| Wewahitchka | $16,097 | $28,603 | $52,646 | $98,152 | $159,435 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Gulf County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Port Saint Joe | $338 | $927 | $2,347 | $4,275 | $7,656 |
| Wewahitchka | $0 | $176 | $440 | $855 | $1,497 |
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 |
|---|---|---|---|---|---|
| Port Saint Joe | 0.56% | 0.73% | 1.11% | 1.21% | 1.26% |
| Wewahitchka | 0.00% | 0.62% | 0.84% | 0.87% | 0.94% |
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Real Estate Values in Gulf County
The median home price in Gulf County, Florida, has increased by 1.86% from October 2022 to October 2023, from $458.4K to $467.0K. This indicates a positive trend in the housing market in Gulf County. Additionally, the home inventory in Gulf County has increased slightly from 235 in October 2022 to 237 in October 2023. This suggests that there is an increase in demand for housing in the area, which is likely driving up prices.
Average Home Value in Gulf County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Gulf County
Last updated: November 2023
Percent Change in New Home Listings in Gulf County
Last updated: November 2023
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Mortgage Rates in Gulf County
Gulf County is home to a large number of outstanding home mortgages, with a total outstanding loan amount of $521.0M across 2.3K loans. This represents a significant portion of the total home value in the county, indicating that many residents are taking advantage of the available mortgage options. The median mortgage rate in Gulf County varies across cities, with Wewahitchka having the highest rate of 4.42% and Port Saint Joe having the lowest rate of 3.95%. This variation in rates provides residents with the opportunity to find the best deal for their individual needs. Overall, the mortgage market in Gulf County is strong, with a large number of outstanding loans and a wide range of rates available.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Gulf County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Port Saint Joe | $56,274 | $114,527 | $198,145 | $342,106 | $525,765 |
| Wewahitchka | $16,245 | $37,022 | $76,084 | $124,631 | $177,002 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Gulf County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Port Saint Joe | 2.80% | 3.20% | 3.95% | 4.80% | 6.19% |
| Wewahitchka | 3.10% | 3.71% | 4.42% | 6.00% | 7.00% |
Housing Expenses in Gulf County, Florida
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