Average Tax Assessment in Sarasota County
Real Estate Values and Property Tax Valuation in Sarasota County, Florida
Sarasota County has a total of 220,542 properties with a cumulative value of $68.0B, making up 3.28% of all real estate value in Florida. Property taxes in Sarasota County amount to $832.1M, with the average homeowner paying $3,806 in property taxes, which is slightly lower than the state average of $3,597. The average property tax rate in Sarasota County is 1.22%, which is lower than the state average of 1.34%. Property taxes are calculated 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 | |
|---|---|
| Sarasota Property Appraiser | (941) 861-8200 |
| Sarasota Tax Collector | (941) 861-8300 |
| 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 Sarasota County
Residential Property Taxes by Cities in Sarasota County
Sarasota County has an average property tax rate of 1.22%, which is slightly lower than the average rate for the state of Florida. This rate is expected to generate around $832.1 million in property taxes for the county in 2023. Property tax rates vary across the cities in Sarasota County, with North Venice having the highest effective property tax rate at 2.38%, and Osprey having the lowest effective property tax rate at 1.09%. This means that property owners in North Venice will pay more in property taxes than those in Osprey. Despite the differences in rates, the average property tax bill for Sarasota County is still relatively low compared to other counties in the state.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Sarasota 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 |
|---|---|---|---|---|---|
| Englewood | $102,340 | $133,600 | $201,100 | $300,700 | $447,860 |
| Longboat Key | $269,300 | $414,500 | $627,500 | $984,900 | $1,628,840 |
| Nokomis | $39,860 | $130,900 | $251,500 | $353,200 | $502,700 |
| North Port | $92,900 | $131,900 | $172,200 | $216,500 | $262,600 |
| North Venice | $206,720 | $252,100 | $308,700 | $397,800 | $520,280 |
| Osprey | $150,500 | $244,300 | $391,700 | $516,500 | $762,760 |
| Sarasota | $109,200 | $163,700 | $238,500 | $370,300 | $605,600 |
| Venice | $117,300 | $154,800 | $215,800 | $301,700 | $399,500 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Sarasota County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Englewood | $968 | $1,565 | $2,261 | $3,374 | $5,125 |
| Longboat Key | $3,304 | $5,496 | $8,253 | $12,735 | $20,717 |
| Nokomis | $953 | $1,615 | $2,849 | $4,215 | $6,581 |
| North Port | $1,083 | $1,646 | $2,478 | $3,330 | $4,171 |
| North Venice | $4,147 | $6,817 | $8,197 | $9,594 | $11,168 |
| Osprey | $1,404 | $2,636 | $4,069 | $5,822 | $9,048 |
| Sarasota | $1,084 | $1,751 | $2,747 | $4,324 | $7,322 |
| Venice | $1,118 | $1,813 | $2,645 | $4,064 | $5,813 |
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 |
|---|---|---|---|---|---|
| Englewood | 0.95% | 1.17% | 1.12% | 1.12% | 1.14% |
| Longboat Key | 1.23% | 1.33% | 1.32% | 1.29% | 1.27% |
| Nokomis | 2.39% | 1.23% | 1.13% | 1.19% | 1.31% |
| North Port | 1.17% | 1.25% | 1.44% | 1.54% | 1.59% |
| North Venice | 2.01% | 2.70% | 2.66% | 2.41% | 2.15% |
| Osprey | 0.93% | 1.08% | 1.04% | 1.13% | 1.19% |
| Sarasota | 0.99% | 1.07% | 1.15% | 1.17% | 1.21% |
| Venice | 0.95% | 1.17% | 1.23% | 1.35% | 1.46% |
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Real Estate Values in Sarasota County
The data from Redfin shows that the median home price in Sarasota County decreased by 10.17% from October 2022 to October 2023. This indicates that the housing market in Florida is cooling off, as home prices are decreasing. Additionally, the home inventory in Sarasota County increased by 44% from October 2022 to October 2023, indicating that there is an increase in the number of homes available for sale. This could be due to a decrease in demand for homes in the area, which could be driving down prices. Overall, the data from Redfin suggests that the housing market in Florida is cooling off, with home prices decreasing and inventory increasing.
Average Home Value in Sarasota County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Sarasota County
Last updated: November 2023
Percent Change in New Home Listings in Sarasota County
Last updated: November 2023
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Mortgage Rates in Sarasota County
Mortgages in Sarasota County are a major factor in the local economy. According to recent statistics, there is a total of $28.9 billion in outstanding loans across home mortgages in the county. This represents 86.3 thousand outstanding loans, which is a significant portion of the total home value in the county. The median mortgage rate in Sarasota County varies across cities, with Longboat Key having the highest median mortgage rate of 4.3%, while Sarasota has the lowest median mortgage rate of 4.3%. This variation in rates across cities provides homeowners with the opportunity to find the best rate for their needs. Overall, mortgages in Sarasota County are an important part of the local economy and provide homeowners with the opportunity to find the best rate for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Sarasota County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Englewood | $28,035 | $81,661 | $142,396 | $238,230 | $359,527 |
| Longboat Key | $79,002 | $187,947 | $338,596 | $538,183 | $845,568 |
| Nokomis | $46,109 | $117,138 | $214,798 | $306,344 | $424,329 |
| North Port | $48,215 | $84,837 | $139,661 | $198,032 | $259,521 |
| North Venice | $99,742 | $152,172 | $220,441 | $305,019 | $387,354 |
| Osprey | $76,788 | $145,798 | $242,274 | $373,270 | $528,789 |
| Sarasota | $40,726 | $93,616 | $178,669 | $289,751 | $444,306 |
| Venice | $49,213 | $98,151 | $165,772 | $242,795 | $332,287 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Sarasota County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Englewood | 2.90% | 3.55% | 4.25% | 5.97% | 7.29% |
| Longboat Key | 2.80% | 3.30% | 4.30% | 6.33% | 7.61% |
| Nokomis | 2.90% | 3.43% | 4.09% | 5.63% | 7.12% |
| North Port | 2.90% | 3.50% | 4.24% | 5.63% | 6.72% |
| North Venice | 2.90% | 3.50% | 4.09% | 5.10% | 6.16% |
| Osprey | 2.90% | 3.50% | 4.18% | 5.82% | 7.03% |
| Sarasota | 2.90% | 3.52% | 4.30% | 6.10% | 7.29% |
| Venice | 2.90% | 3.45% | 4.09% | 5.62% | 7.02% |
Housing Expenses in Sarasota County, Florida
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