Average Tax Assessment in Okaloosa County
Real Estate Values and Property Tax Valuation in Okaloosa County, Florida
Okaloosa County has 87,564 properties with a cumulative value of $22.2B, representing 1.07% of all real estate value in Florida. Property taxes in Okaloosa County totaled $219.3M, with an average homeowner paying $2,554 in property taxes, which is lower than the state average of $3,597. The average property tax rate in Okaloosa County is 0.99%, while the state average is 1.34%. 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 | |
|---|---|
| Okaloosa Clerk / Recorder | (850) 689-5000 |
| Okaloosa Tax Collector | (850) 651-7300 |
| 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 Okaloosa County
Residential Property Taxes by Cities in Okaloosa County
Okaloosa County has an average property tax rate of 0.99%, which is slightly lower than the national average of 1.08%. This rate is applied to all properties in the county, regardless of their location. However, there is some variation in the effective property tax rate across the cities in Okaloosa County. The city of Destin has the highest effective property tax rate at 1.09%, while the city of Holt has the lowest effective property tax rate at 0.68%. This means that property owners in Destin will pay more in property taxes than those in Holt. Overall, Okaloosa County has a relatively low property tax rate compared to other counties in the state, making it an attractive option for those looking to purchase property in the area.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Okaloosa 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 |
|---|---|---|---|---|---|
| Baker | $39,775 | $70,000 | $131,040 | $218,426 | $295,374 |
| Crestview | $53,993 | $101,948 | $147,005 | $204,024 | $260,357 |
| Destin | $155,000 | $225,000 | $328,500 | $536,509 | $808,732 |
| Fort Walton Beach | $99,823 | $130,000 | $180,952 | $267,122 | $375,000 |
| Holt | $28,398 | $52,234 | $92,775 | $147,930 | $236,988 |
| Laurel Hill | $32,162 | $61,015 | $124,991 | $227,706 | $292,844 |
| Mary Esther | $99,338 | $136,888 | $174,190 | $230,298 | $310,467 |
| Niceville | $120,500 | $184,107 | $254,769 | $365,412 | $495,902 |
| Shalimar | $120,759 | $149,035 | $229,218 | $317,628 | $495,030 |
| Valparaiso | $102,491 | $129,409 | $165,375 | $248,312 | $358,852 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Okaloosa County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | $239 | $443 | $814 | $1,488 | $2,231 |
| Crestview | $396 | $740 | $1,351 | $2,044 | $2,775 |
| Destin | $1,366 | $2,234 | $3,663 | $5,961 | $9,077 |
| Fort Walton Beach | $656 | $1,128 | $1,796 | $2,904 | $4,555 |
| Holt | $161 | $347 | $610 | $1,077 | $1,699 |
| Laurel Hill | $137 | $379 | $763 | $1,570 | $2,365 |
| Mary Esther | $646 | $1,032 | $1,656 | $2,301 | $3,313 |
| Niceville | $866 | $1,427 | $2,335 | $3,484 | $5,044 |
| Shalimar | $824 | $1,364 | $1,982 | $3,078 | $4,759 |
| Valparaiso | $596 | $1,099 | $1,829 | $2,657 | $4,033 |
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 |
|---|---|---|---|---|---|
| Baker | 0.60% | 0.63% | 0.62% | 0.68% | 0.76% |
| Crestview | 0.73% | 0.73% | 0.92% | 1.00% | 1.07% |
| Destin | 0.88% | 0.99% | 1.12% | 1.11% | 1.12% |
| Fort Walton Beach | 0.66% | 0.87% | 0.99% | 1.09% | 1.21% |
| Holt | 0.57% | 0.66% | 0.66% | 0.73% | 0.72% |
| Laurel Hill | 0.43% | 0.62% | 0.61% | 0.69% | 0.81% |
| Mary Esther | 0.65% | 0.75% | 0.95% | 1.00% | 1.07% |
| Niceville | 0.72% | 0.78% | 0.92% | 0.95% | 1.02% |
| Shalimar | 0.68% | 0.92% | 0.86% | 0.97% | 0.96% |
| Valparaiso | 0.58% | 0.85% | 1.11% | 1.07% | 1.12% |
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Real Estate Values in Okaloosa County
The median home price in Okaloosa County, Florida decreased by 5.30% from October 2022 to October 2023, from $349.0K to $330.5K. This decrease in home prices was accompanied by an increase in home inventory, from 1.3K in October 2022 to 1.7K in October 2023. This suggests that the housing market in Okaloosa County is becoming more competitive, with more homes available for buyers to choose from.
Average Home Value in Okaloosa County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Okaloosa County
Last updated: November 2023
Percent Change in New Home Listings in Okaloosa County
Last updated: November 2023
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Mortgage Rates in Okaloosa County
Mortgages in Okaloosa County are a major source of financing for homeowners in the area. According to the latest data, there is an estimated total of $10.0 billion in outstanding loans across the county. This represents 43.7 thousand individual loans, which is a significant portion of the total home value in the area.
The median mortgage rate in Okaloosa County varies across cities, with Holt having the highest rate at 4.26% and Crestview having the lowest rate at 3.99%. This difference in rates can have a significant impact on the cost of a loan, so it is important for potential borrowers to shop around and compare rates before making a decision. Overall, mortgages in Okaloosa County are a great way for homeowners to finance their homes and can provide a great deal of financial security.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Okaloosa County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | $53,870 | $95,341 | $168,021 | $244,669 | $340,212 |
| Crestview | $59,779 | $104,257 | $168,094 | $236,801 | $303,671 |
| Destin | $82,352 | $142,972 | $245,822 | $384,681 | $608,586 |
| Fort Walton Beach | $50,812 | $92,463 | $159,575 | $250,672 | $342,057 |
| Holt | $28,132 | $61,875 | $112,701 | $209,713 | $291,800 |
| Laurel Hill | $53,458 | $114,445 | $201,727 | $269,730 | $346,221 |
| Mary Esther | $57,207 | $102,934 | $171,925 | $250,976 | $327,419 |
| Niceville | $75,575 | $134,531 | $227,097 | $335,560 | $455,017 |
| Shalimar | $64,284 | $107,183 | $186,972 | $290,754 | $398,675 |
| Valparaiso | $61,805 | $103,432 | $175,566 | $279,773 | $412,811 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Okaloosa County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baker | 2.90% | 3.27% | 4.00% | 5.01% | 6.27% |
| Crestview | 2.90% | 3.20% | 3.99% | 5.10% | 6.23% |
| Destin | 2.90% | 3.40% | 4.00% | 4.87% | 6.16% |
| Fort Walton Beach | 2.90% | 3.48% | 4.16% | 5.54% | 6.45% |
| Holt | 2.93% | 3.45% | 4.26% | 5.75% | 6.60% |
| Laurel Hill | 3.00% | 3.57% | 3.99% | 4.60% | 5.75% |
| Mary Esther | 2.90% | 3.30% | 4.00% | 5.10% | 6.29% |
| Niceville | 2.90% | 3.50% | 4.09% | 5.11% | 6.32% |
| Shalimar | 2.90% | 3.50% | 4.13% | 5.49% | 6.31% |
| Valparaiso | 2.88% | 3.30% | 4.00% | 5.03% | 6.25% |
Housing Expenses in Okaloosa County, Florida
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