Average Tax Assessment in Levy County
Real Estate Values and Property Tax Valuation in Levy County, Florida
Levy County has a total of 17,521 properties, with a cumulative value of $1.9B. This accounts for 0.09% of all real estate value in Florida. Property taxes in Levy County totaled $24.6M, with an average of $1,401 per homeowner, which is lower than the state average of $3,597. The average property tax rate in Levy County is 1.30%, which is lower than the state average of 1.34%. Properties are typically 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 | |
|---|---|
| Levy Clerk / Recorder | (352) 486-5266 |
| 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 Levy County
Residential Property Taxes by Cities in Levy County
Levy County has an average property tax rate of 1.30%, which is slightly lower than the state average of 1.35%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Levy County property tax bill is $1,401. Property tax rates vary across the cities in Levy County, with Cedar Key having the highest effective property tax rate of 1.69% and Archer having the lowest effective property tax rate of 1.13%. This means that property owners in Cedar Key will pay more in taxes than those in Archer. Property taxes in Levy 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 Levy 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 |
|---|---|---|---|---|---|
| Archer | $29,153 | $46,812 | $78,063 | $123,277 | $195,648 |
| Bronson | $23,811 | $39,678 | $67,673 | $106,299 | $156,208 |
| Cedar Key | $43,563 | $77,386 | $159,999 | $239,999 | $357,721 |
| Chiefland | $27,595 | $44,016 | $77,173 | $132,129 | $210,359 |
| Dunnellon | $63,822 | $83,643 | $132,196 | $190,962 | $252,782 |
| Fanning Springs | $23,822 | $38,008 | $63,235 | $102,169 | $144,216 |
| Inglis | $23,157 | $34,699 | $61,334 | $116,732 | $180,391 |
| Morriston | $31,563 | $53,021 | $93,676 | $157,763 | $245,182 |
| Trenton | $26,630 | $40,648 | $69,481 | $115,991 | $177,315 |
| Williston | $25,120 | $47,020 | $83,801 | $140,974 | $215,084 |
| Yankeetown | $42,136 | $75,984 | $146,209 | $230,367 | $367,473 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Levy County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archer | $399 | $595 | $883 | $1,410 | $2,113 |
| Bronson | $399 | $545 | $822 | $1,262 | $1,887 |
| Cedar Key | $586 | $1,200 | $2,542 | $4,326 | $5,893 |
| Chiefland | $430 | $679 | $1,005 | $1,655 | $2,465 |
| Dunnellon | $639 | $896 | $1,399 | $2,119 | $2,963 |
| Fanning Springs | $311 | $516 | $786 | $1,191 | $1,742 |
| Inglis | $390 | $566 | $889 | $1,537 | $2,473 |
| Morriston | $421 | $673 | $1,022 | $1,779 | $2,668 |
| Trenton | $407 | $638 | $906 | $1,353 | $2,072 |
| Williston | $399 | $629 | $955 | $1,646 | $2,489 |
| Yankeetown | $768 | $1,131 | $1,957 | $3,555 | $5,287 |
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 |
|---|---|---|---|---|---|
| Archer | 1.37% | 1.27% | 1.13% | 1.14% | 1.08% |
| Bronson | 1.68% | 1.37% | 1.21% | 1.19% | 1.21% |
| Cedar Key | 1.35% | 1.55% | 1.59% | 1.80% | 1.65% |
| Chiefland | 1.56% | 1.54% | 1.30% | 1.25% | 1.17% |
| Dunnellon | 1.00% | 1.07% | 1.06% | 1.11% | 1.17% |
| Fanning Springs | 1.31% | 1.36% | 1.24% | 1.17% | 1.21% |
| Inglis | 1.68% | 1.63% | 1.45% | 1.32% | 1.37% |
| Morriston | 1.33% | 1.27% | 1.09% | 1.13% | 1.09% |
| Trenton | 1.53% | 1.57% | 1.30% | 1.17% | 1.17% |
| Williston | 1.59% | 1.34% | 1.14% | 1.17% | 1.16% |
| Yankeetown | 1.82% | 1.49% | 1.34% | 1.54% | 1.44% |
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Real Estate Values in Levy County
The median home price in Levy County, Florida decreased by 28.44% from October 2022 to October 2023, from $265.5K to $190.0K. This decrease in home prices is likely due to the increase in home inventory, which rose from 149 in October 2022 to 196 in October 2023. This suggests that there is an oversupply of homes in the area, which is driving down prices.
Average Home Value in Levy County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Levy County
Last updated: November 2023
Percent Change in New Home Listings in Levy County
Last updated: November 2023
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Mortgage Rates in Levy County
Mortgages in Levy County are an important part of the local economy. According to recent statistics, there is a total of $453.8M in outstanding loan amounts across home mortgages in Levy County. This is equivalent to 4.2K outstanding loans in the county. The median mortgage rate in Levy County varies across cities, with Bronson having the highest median mortgage rate of 4.75%, and Dunnellon having the lowest median mortgage rate of 3.96%. This variation in rates across cities can have a significant impact on the total amount of home value in Levy County. The total outstanding loan amount across home mortgages in Levy County is equivalent to approximately 10% of the total home value in the county. This indicates that mortgages are an important part of the local economy, and that there is a significant amount of money being invested in the housing market in Levy County.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Levy County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archer | $19,230 | $41,933 | $79,643 | $126,556 | $210,326 |
| Bronson | $12,777 | $29,935 | $63,697 | $109,720 | $172,596 |
| Cedar Key | $34,743 | $77,262 | $149,260 | $221,023 | $301,722 |
| Chiefland | $18,402 | $38,899 | $78,890 | $135,169 | $187,430 |
| Dunnellon | $29,443 | $66,839 | $115,118 | $171,977 | $266,138 |
| Fanning Springs | $20,645 | $35,609 | $69,481 | $104,599 | $139,710 |
| Inglis | $13,699 | $29,735 | $57,382 | $108,152 | $169,606 |
| Morriston | $16,442 | $34,893 | $79,878 | $146,083 | $218,355 |
| Trenton | $15,223 | $36,656 | $70,416 | $136,418 | $209,000 |
| Williston | $22,420 | $46,790 | $92,652 | $148,518 | $207,318 |
| Yankeetown | $22,421 | $47,375 | $102,219 | $185,004 | $293,025 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Levy County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archer | 2.95% | 3.66% | 4.50% | 5.88% | 6.95% |
| Bronson | 3.00% | 3.71% | 4.75% | 6.21% | 8.01% |
| Cedar Key | 2.90% | 3.50% | 4.25% | 5.88% | 6.86% |
| Chiefland | 2.98% | 3.70% | 4.48% | 6.00% | 6.95% |
| Dunnellon | 2.85% | 3.40% | 3.96% | 4.70% | 6.26% |
| Fanning Springs | 3.01% | 3.75% | 4.44% | 6.03% | 7.80% |
| Inglis | 3.05% | 3.77% | 4.52% | 6.14% | 8.00% |
| Morriston | 2.90% | 3.67% | 4.59% | 6.09% | 7.95% |
| Trenton | 3.01% | 3.60% | 4.50% | 6.03% | 7.60% |
| Williston | 3.00% | 3.60% | 4.42% | 5.97% | 7.00% |
| Yankeetown | 2.83% | 3.55% | 4.30% | 5.50% | 6.24% |
Housing Expenses in Levy County, Florida
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