Average Tax Assessment in Indian River County
Real Estate Values and Property Tax Valuation in Indian River County, Florida
Indian River County has a total of 72,353 properties with a cumulative value of $23.0B. This accounts for 1.11% of all real estate value in Florida. Property taxes in Indian River County totaled $256.3M, with the average homeowner paying $3,584 in property taxes, which is slightly lower than the state average of $3,597. The average property tax rate in Indian River County is 1.12%, which is lower than the state average of 1.34%. Property taxes are calculated 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 | |
|---|---|
| Indian River Tax Collector | (772) 567-8000 1343 |
| 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 Indian River County
Residential Property Taxes by Cities in Indian River County
Indian River County has an average property tax rate of 1.12%, which is slightly higher than the state average of 1.02%. This rate applies to all cities in the county, with Vero Beach having the highest effective property tax rate of 1.12% and Fellsmere having the lowest effective property tax rate of 0.93%. This means that the average Indian River County property tax bill is $3,584.
Property taxes in Indian River County are higher than in other counties in the state, but the rates vary across cities. Vero Beach has the highest effective property tax rate, while Fellsmere has the lowest. This means that property owners in Vero Beach will pay more in taxes than those in Fellsmere. However, the average property tax rate in Indian River County is still lower than the state average, making it an attractive option for property owners.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Indian River 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 |
|---|---|---|---|---|---|
| Fellsmere | $36,215 | $62,571 | $131,748 | $260,274 | $365,053 |
| Sebastian | $118,969 | $150,730 | $197,347 | $238,575 | $294,386 |
| Vero Beach | $83,213 | $130,246 | $204,814 | $325,178 | $628,368 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Indian River County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fellsmere | $364 | $698 | $1,219 | $2,349 | $3,783 |
| Sebastian | $726 | $1,223 | $2,001 | $2,977 | $3,899 |
| Vero Beach | $596 | $1,190 | $2,168 | $3,826 | $7,604 |
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 |
|---|---|---|---|---|---|
| Fellsmere | 1.01% | 1.12% | 0.93% | 0.90% | 1.04% |
| Sebastian | 0.61% | 0.81% | 1.01% | 1.25% | 1.32% |
| Vero Beach | 0.72% | 0.91% | 1.06% | 1.18% | 1.21% |
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Real Estate Values in Indian River County
The data from Redfin shows that the median home price in Indian River County, Florida has increased by 5.07% from October 2022 to October 2023. This indicates that the housing market in Indian River County is experiencing a positive trend in terms of home prices. Additionally, the home inventory in Indian River County has also increased from 1.2K in October 2022 to 1.3K in October 2023, indicating that there is an increase in the number of homes available for sale in the area. This could be a sign of a healthy housing market in Indian River County.
Average Home Value in Indian River County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Indian River County
Last updated: November 2023
Percent Change in New Home Listings in Indian River County
Last updated: November 2023
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Mortgage Rates in Indian River County
Indian River County has a total outstanding loan amount of $7.8 billion across home mortgages, with 29,300 outstanding loans. This represents a significant portion of the total home value in the county, indicating that many residents are taking advantage of the low mortgage rates available. The median mortgage rate in Indian River County varies significantly across cities, with Fellsmere having the highest rate at 5.64%, and Vero Beach having the lowest rate at 4.2%. This variation in rates across cities allows residents to find the best deal for their individual needs. Overall, the low mortgage rates in Indian River County make it an attractive option for potential homeowners.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Indian River County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fellsmere | $11,469 | $27,393 | $60,635 | $168,427 | $280,095 |
| Sebastian | $36,243 | $73,094 | $128,342 | $191,787 | $250,832 |
| Vero Beach | $44,420 | $84,785 | $149,935 | $235,998 | $369,175 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Indian River County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fellsmere | 3.27% | 4.00% | 5.64% | 6.97% | 7.81% |
| Sebastian | 2.90% | 3.58% | 4.22% | 5.77% | 6.98% |
| Vero Beach | 2.90% | 3.50% | 4.20% | 5.73% | 6.91% |
Housing Expenses in Indian River County, Florida
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