Boca Raton, Florida Property Taxes
Real Estate Values and Property Tax Valuation in Boca Raton, Florida
Boca Raton is home to 84,779 properties, with a cumulative value of $35.6B, making up 18.65% of all real estate value in Palm Beach County. Property taxes in Boca Raton totaled $508.7M, with an average homeowner paying $6,002 in property taxes compared to the county average of $5,533. The average property tax rate in Boca Raton is 1.43%, while the county average is 1.46%. Properties are valued for tax purposes based on their fair 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 | |
|---|---|
| Palm Beach Tax Collector | (561) 355-2264 |
| Palm Beach Clerk / Recorder | (561) 355-2991 |
| 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 Boca Raton, Florida
Residential Property Tax by ZIP code in Boca Raton, Florida
Boca Raton has an average property tax rate of 1.43%, which is slightly lower than the average rate in Palm Beach County of 1.46%. This means that homeowners in Boca Raton pay slightly less in property taxes than the average homeowner in Palm Beach County. However, property tax rates vary across ZIP codes in Boca Raton. The ZIP code with the highest effective property tax rate is 33496, with a rate of 1.49%, while the ZIP code with the lowest effective property tax rate is 33486, with a rate of 1.3%. This variation in rates is due to differences in home values across ZIP codes. In 2023, the total property taxes collected in Boca Raton was estimated to be $6,002.
Overall, Boca Raton has a slightly lower property tax rate than the average rate in Palm Beach County. However, property tax rates vary across ZIP codes in Boca Raton, with the highest effective rate being 1.49% and the lowest being 1.3%. This variation is due to differences in home values across ZIP codes. In 2023, the total property taxes collected in Boca Raton was estimated to be $6,002.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Boca Raton, Florida. 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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | $101,000 | $133,002 | $230,347 | $326,939 | $447,335 |
| 33431 | $145,000 | $255,000 | $340,941 | $511,000 | $890,000 |
| 33432 | $140,000 | $227,000 | $495,000 | $890,000 | $2,050,356 |
| 33433 | $138,500 | $173,106 | $235,461 | $314,048 | $481,280 |
| 33434 | $45,000 | $58,475 | $83,525 | $289,234 | $519,972 |
| 33486 | $135,000 | $257,406 | $377,686 | $493,063 | $707,637 |
| 33487 | $126,000 | $156,531 | $309,374 | $436,555 | $831,097 |
| 33496 | $127,000 | $160,370 | $240,974 | $811,026 | $1,396,939 |
| 33498 | $197,159 | $250,519 | $402,356 | $472,923 | $526,103 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Boca Raton, Florida.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | $827 | $1,724 | $2,631 | $4,622 | $6,757 |
| 33431 | $1,920 | $2,908 | $5,178 | $7,719 | $12,881 |
| 33432 | $1,938 | $3,365 | $6,705 | $13,892 | $30,372 |
| 33433 | $1,358 | $2,253 | $3,320 | $4,757 | $7,080 |
| 33434 | $399 | $841 | $1,447 | $3,717 | $7,486 |
| 33486 | $1,910 | $2,886 | $4,498 | $6,865 | $9,558 |
| 33487 | $1,505 | $2,516 | $3,926 | $6,281 | $9,942 |
| 33496 | $1,117 | $1,988 | $3,603 | $12,548 | $21,491 |
| 33498 | $2,066 | $3,587 | $5,306 | $7,118 | $8,691 |
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.
| ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33428 | 0.82% | 1.30% | 1.14% | 1.41% | 1.51% |
| 33431 | 1.32% | 1.14% | 1.52% | 1.51% | 1.45% |
| 33432 | 1.38% | 1.48% | 1.35% | 1.56% | 1.48% |
| 33433 | 0.98% | 1.30% | 1.41% | 1.51% | 1.47% |
| 33434 | 0.89% | 1.44% | 1.73% | 1.29% | 1.44% |
| 33486 | 1.41% | 1.12% | 1.19% | 1.39% | 1.35% |
| 33487 | 1.19% | 1.61% | 1.27% | 1.44% | 1.20% |
| 33496 | 0.88% | 1.24% | 1.50% | 1.55% | 1.54% |
| 33498 | 1.05% | 1.43% | 1.32% | 1.51% | 1.65% |
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Real Estate Values in Boca Raton, Florida
Average Home Value in Boca Raton, Florida
Last updated: November 2023
We currently do not have this data but we are working to add this soon.
We currently do not have this data but we are working to add this soon.
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Housing Expenses in Boca Raton, Florida
Housing expenses are a major part of the average household budget in the state. In fact, housing expenses account for nearly one-third of total expenses for the average household. As inflation continues, housing expenses continue to rise, eating up an ever-increasing portion of the household budget. Property taxes are the second largest component of housing expenses for the average property owner in the state, making up a significant portion of the total housing expenses. As housing expenses continue to rise, it is important for households to budget carefully and plan for the future to ensure they can afford their housing expenses.
Monthly Consumer Expenses for South region
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