Average Tax Assessment in Holmes County
Real Estate Values and Property Tax Valuation in Holmes County, Florida
Holmes County has a total of 4,767 properties with a cumulative value of $299.8M, representing 0.01% of all real estate value in Florida. Property taxes in Holmes County totaled $2.7M, with an average homeowner paying $562 in property taxes, which is significantly lower than the state average of $3,597. The average property tax rate in Holmes County is 0.89%, while the state average is 1.34%. Properties are typically valued for tax purposes based on their 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 | |
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Holmes Chancery Clerk | (662) 834-2508 |
Holmes Clerk / Recorder | (850) 547-1100 |
Holmes Recorder | (330) 674-5916 |
Important Dates | |
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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 | |
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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 Holmes County
Residential Property Taxes by Cities in Holmes County
Holmes County has an average property tax rate of 0.89%, which is slightly lower than the average rate for the state of Florida. This rate is applied to all properties in the county, regardless of their location. However, the effective property tax rate can vary significantly between cities. For example, the city of Bonifay has an effective property tax rate of 0.92%, while the city of Westville has an effective property tax rate of 0.76%. This means that property owners in Bonifay will pay a higher property tax bill than those in Westville.
Overall, Holmes County has a relatively low property tax rate compared to other counties in the state. This makes it an attractive option for those looking to purchase property in the area. However, it is important to note that the effective property tax rate can vary significantly between cities, so it is important to research the rates in each city before making a purchase.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Holmes 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 |
---|---|---|---|---|---|
Bonifay | $21,634 | $34,770 | $56,625 | $87,354 | $129,756 |
Graceville | $24,111 | $36,947 | $59,204 | $93,033 | $126,103 |
Ponce De Leon | $17,558 | $30,287 | $51,606 | $69,205 | $101,302 |
Westville | $18,139 | $27,723 | $42,740 | $68,512 | $102,114 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Holmes County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Bonifay | $32 | $210 | $461 | $863 | $1,372 |
Graceville | $13 | $177 | $445 | $839 | $1,280 |
Ponce De Leon | $0 | $151 | $406 | $698 | $1,089 |
Westville | $0 | $78 | $305 | $539 | $926 |
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 |
---|---|---|---|---|---|
Bonifay | 0.15% | 0.60% | 0.81% | 0.99% | 1.06% |
Graceville | 0.05% | 0.48% | 0.75% | 0.90% | 1.02% |
Ponce De Leon | 0.00% | 0.50% | 0.79% | 1.01% | 1.08% |
Westville | 0.00% | 0.28% | 0.71% | 0.79% | 0.91% |
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Real Estate Values in Holmes County
The data from Redfin shows that the median home price in Holmes County, Florida has increased significantly from October 2022 to October 2023, with a 159.20% increase. This indicates that the housing market in Holmes County is becoming increasingly competitive, as the number of homes available for sale has only increased by 4 units. This suggests that demand for homes in Holmes County is outpacing the supply, driving up prices.
Average Home Value in Holmes County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Holmes County
Last updated: November 2023
Percent Change in New Home Listings in Holmes County
Last updated: November 2023
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Mortgage Rates in Holmes County
Mortgages in Holmes County are a major factor in the local economy. There is a total of $76.9M in outstanding loans across the county, representing 849 individual loans. This amount is equivalent to approximately 8.3% of the total home value in Holmes County. The median mortgage rate in Holmes County varies significantly across cities, with Westville having the highest rate of 4.5%, and Graceville having the lowest rate of 4.06%. This variation in rates can have a significant impact on the affordability of mortgages in the county, and can be a major factor in determining where people choose to live.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Holmes County by city.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Bonifay | $18,088 | $41,885 | $69,814 | $132,965 | $205,745 |
Graceville | $15,064 | $29,375 | $50,112 | $97,602 | $117,582 |
Ponce De Leon | $12,315 | $29,323 | $63,263 | $114,031 | $163,059 |
Westville | $11,913 | $28,183 | $51,700 | $98,348 | $142,977 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Holmes County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Bonifay | 2.90% | 3.60% | 4.40% | 5.83% | 7.02% |
Graceville | 3.00% | 3.44% | 4.06% | 5.79% | 6.62% |
Ponce De Leon | 2.90% | 3.50% | 4.27% | 6.02% | 7.26% |
Westville | 3.04% | 3.85% | 4.50% | 6.11% | 7.00% |
Housing Expenses in Holmes County, Florida
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