Average Tax Assessment in Lafayette County
Real Estate Values and Property Tax Valuation in Lafayette County, Florida
Lafayette County has a total of 2,780 properties, with a cumulative value of $311.0M, making up 0.01% of all real estate value in Florida. Property taxes in Lafayette County totaled $2.9M, with the average homeowner paying $1,030 in property taxes, which is significantly lower than the state average of $3,597. The average property tax rate in Lafayette County is 0.92%, while the state average is 1.34%. Property taxes are typically based on the assessed value of the property, which is usually 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 | |
|---|---|
| Lafayette Chancery Clerk/Recorder | (662) 234-2131 |
| Lafayette Register of Deeds | (608) 776-4838 |
| Lafayette Clerk / Recorder | (386) 294-1600 |
| Lafayette Recorder | (870) 921-4878 |
| 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 Lafayette County
Residential Property Taxes by Cities in Lafayette County
Lafayette County has an average property tax rate of 0.92%, which is slightly lower than the average rate in the state of Florida. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Lafayette County are collected by the county government and are used to fund public services such as schools, roads, and public safety.
Property tax rates in Lafayette County vary across the cities. The city of Branford has the highest effective property tax rate at 0.97%, while the city of Mayo has the lowest effective property tax rate at 0.9%. Property owners in Branford will pay more in taxes than those in Mayo, but the difference is not significant. Property taxes in Lafayette County are generally lower than the state average, making it an attractive place to live for those looking for a lower tax burden.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Lafayette 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.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Lafayette County.
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.
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Real Estate Values in Lafayette County
The median home price in Lafayette County remained unchanged from October 2022 to October 2023, staying at $165.0K. However, the home inventory decreased from 22 in October 2022 to 13 in October 2023, indicating a decrease in the availability of homes in the area. This could be an indication of a seller's market, where demand for homes is higher than the supply.
Average Home Value in Lafayette County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Lafayette County
Last updated: November 2023
Percent Change in New Home Listings in Lafayette County
Last updated: November 2023
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Mortgage Rates in Lafayette County
Lafayette County is home to a large number of outstanding home mortgage loans, totaling $56.7M. This amount represents a significant portion of the total home value in the county, indicating that many residents are taking advantage of the low interest rates currently available. The median mortgage rate in Lafayette County varies across cities, with Mayo having the highest rate of 4% and Branford having the lowest rate of 3.98%. This variation in rates allows residents to find the best deal for their particular situation, ensuring that they can get the most out of their home loan. Overall, Lafayette County is a great place to find a home mortgage loan, with a wide variety of options available to suit any budget.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Lafayette County by city.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Lafayette County.
Housing Expenses in Lafayette County, Florida
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