Average Tax Assessment in Okeechobee County
Real Estate Values and Property Tax Valuation in Okeechobee County, Florida
Okeechobee County has 15,290 properties with a cumulative value of $2.5B, representing 0.12% of all real estate value in Florida. Property taxes in Okeechobee County totaled $25.8M, with an average homeowner paying $1,758 in property taxes, which is lower than the state average of $3,597. The average property tax rate in Okeechobee County is 1.05%, which is lower than the state average of 1.34%. Property taxes are calculated based on the assessed value of the property.
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 | |
|---|---|
| Okeechobee Clerk / Recorder | (863) 763-2131 |
| Okeechobee Property Appraiser | (863) 763-4422 |
| 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 Okeechobee County
Residential Property Taxes by Cities in Okeechobee County
Okeechobee County has an average property tax rate of 1.05%, which is slightly lower than the state average of 1.08%. This rate is consistent across all cities in the county, making Okeechobee County one of the most affordable places to live in Florida. The average property tax bill in Okeechobee County is $1,758, which is lower than the state average of $2,091.
The effective property tax rate in Okeechobee County is the same across all cities, making it one of the most consistent counties in the state. This rate is slightly lower than the state average, making it an attractive option for those looking for a lower tax burden. The city of Okeechobee has the highest effective property tax rate in the county, but it is still lower than the state average. This makes Okeechobee County an attractive option 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 Okeechobee 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 |
|---|---|---|---|---|---|
| Okeechobee | $31,356 | $60,075 | $100,618 | $164,794 | $256,175 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Okeechobee County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | $501 | $800 | $1,220 | $1,990 | $3,099 |
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 |
|---|---|---|---|---|---|
| Okeechobee | 1.60% | 1.33% | 1.21% | 1.21% | 1.21% |
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Real Estate Values in Okeechobee County
The data from Redfin shows that the median home price in Okeechobee County has increased by 31.37% from October 2022 to October 2023. This indicates that the housing market in Okeechobee County is strong and that demand for homes is increasing. Additionally, the home inventory in Okeechobee County has also increased from 155 in October 2022 to 202 in October 2023, indicating that there is an increased supply of homes in the area. This suggests that the housing market in Okeechobee County is healthy and that there is a good balance between supply and demand.
Average Home Value in Okeechobee County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Okeechobee County
Last updated: November 2023
Percent Change in New Home Listings in Okeechobee County
Last updated: November 2023
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Mortgage Rates in Okeechobee County
Okeechobee County is home to an impressive $516.9 million in outstanding home mortgage loans. This is an impressive amount of money, representing a significant portion of the total home value in the county. The number of outstanding loans in Okeechobee County is 4,000, which is a relatively small number compared to other counties in the state.
The median mortgage rate in Okeechobee County is 4.7%, which is the same as the median rate across the state. This means that there is not much variation in mortgage rates across the county, which is beneficial for those looking to purchase a home in the area. However, it is important to note that mortgage rates can vary significantly from county to county, so it is important to do research before committing to a loan.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Okeechobee County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | $19,013 | $47,092 | $93,471 | $156,411 | $233,292 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Okeechobee County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Okeechobee | 2.93% | 3.70% | 4.70% | 6.32% | 7.58% |
Housing Expenses in Okeechobee County, Florida
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