Lake Worth, Florida Property Taxes
Real Estate Values and Property Tax Valuation in Lake Worth, Florida
The city of Lake Worth has 35,986 properties with a cumulative value of $9.1B, representing 4.79% of all real estate value in Palm Beach County. Property taxes in Lake Worth totaled $124.2M, with an average homeowner paying $3,453 in property taxes compared to the county average of $5,533. The average property tax rate in Lake Worth is 1.36%, lower than the county average of 1.46%. Property taxes are based on the assessed value of the property, which is determined by the local government.
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 | |
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Palm Beach Tax Collector | (561) 355-2264 |
Palm Beach Clerk / Recorder | (561) 355-2991 |
Important Dates | |
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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 | |
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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 Lake Worth, Florida
Residential Property Tax by ZIP code in Lake Worth, Florida
Lake Worth property taxes are slightly lower than the average for Palm Beach County, with an average rate of 1.36% compared to 1.46%. However, this rate can vary significantly across different ZIP codes in Lake Worth. For example, the ZIP code 33461 has an effective property tax rate of 1.44%, while the ZIP code 33467 has an effective rate of 1.32%. This difference is due to the varying home values across different ZIP codes in Lake Worth.
Overall, Lake Worth property taxes are slightly lower than the average for Palm Beach County, but the rate can vary significantly depending on the ZIP code. Home values vary across different ZIP codes, and this affects the effective property tax rate for each area. Property owners should be aware of the differences in property tax rates across different ZIP codes in Lake Worth in order to make informed decisions about their taxes.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each ZIP code in Lake Worth, 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 |
---|---|---|---|---|---|
33449 | $92,637 | $283,256 | $410,072 | $565,652 | $784,233 |
33461 | $54,417 | $142,319 | $193,000 | $235,000 | $279,065 |
33462 | $156,000 | $189,812 | $253,441 | $348,921 | $516,946 |
33463 | $151,750 | $193,000 | $228,030 | $292,708 | $375,824 |
33467 | $84,000 | $105,340 | $248,723 | $346,516 | $422,429 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each ZIP code in Lake Worth, Florida.
ZIP Code | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
33449 | $1,238 | $3,800 | $5,685 | $7,888 | $11,074 |
33461 | $705 | $1,175 | $2,289 | $3,760 | $4,896 |
33462 | $1,182 | $2,054 | $3,369 | $5,269 | $7,914 |
33463 | $1,270 | $1,903 | $3,251 | $4,414 | $5,790 |
33467 | $703 | $1,530 | $2,808 | $4,941 | $6,360 |
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 |
---|---|---|---|---|---|
33449 | 1.34% | 1.34% | 1.39% | 1.39% | 1.41% |
33461 | 1.30% | 0.83% | 1.19% | 1.60% | 1.75% |
33462 | 0.76% | 1.08% | 1.33% | 1.51% | 1.53% |
33463 | 0.84% | 0.99% | 1.43% | 1.51% | 1.54% |
33467 | 0.84% | 1.45% | 1.13% | 1.43% | 1.51% |
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Real Estate Values in Lake Worth, Florida
Average Home Value in Lake Worth, Florida
Last updated: November 2023
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Housing Expenses in Lake Worth, 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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