Average Tax Assessment in Sumter County
Real Estate Values and Property Tax Valuation in Sumter County, Florida
Sumter County has a total of 71,027 properties with a cumulative value of $17.0B. This accounts for 0.82% of all real estate value in Florida. Property taxes in Sumter County amount to $228.4M, with the average homeowner paying $3,216 in property taxes, which is lower than the state average of $3,597. The average property tax rate in Sumter County is 1.34%, which is the same as the state average. 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 | |
|---|---|
| Sumter Assessor | (229) 928-4514 |
| Sumter Assessor | (803) 436-2115 |
| Sumter Clerk / Recorder | (352) 569-6600 |
| Sumter Clerk of Court | (229) 928-4537 |
| 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 Sumter County
Residential Property Taxes by Cities in Sumter County
Sumter County has an average property tax rate of 1.34%, which is slightly lower than the national average of 1.38%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average property tax bill in Sumter County is $3,216. Property tax rates vary across the cities in the county, with The Villages having the highest effective property tax rate of 1.44%, and Sumterville having the lowest effective property tax rate of 0.74%. This means that homeowners in The Villages will pay more in property taxes than homeowners in Sumterville. Overall, Sumter County has relatively low property tax rates compared to other counties in the state, making it an attractive option for homeowners looking for a place to live.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Sumter 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 |
|---|---|---|---|---|---|
| Bushnell | $27,450 | $53,788 | $111,070 | $178,098 | $248,538 |
| Center Hill | $24,290 | $50,670 | $93,750 | $160,690 | $247,024 |
| Coleman | $17,053 | $35,342 | $68,060 | $101,082 | $159,891 |
| Lady Lake | $143,550 | $167,690 | $195,670 | $245,725 | $306,764 |
| Lake Panasoffkee | $19,808 | $30,750 | $67,370 | $130,260 | $183,330 |
| Oxford | $93,730 | $141,260 | $189,030 | $241,680 | $310,750 |
| Sumterville | $33,552 | $70,470 | $142,990 | $219,720 | $294,422 |
| The Villages | $169,750 | $202,610 | $254,780 | $331,985 | $419,054 |
| Webster | $22,856 | $40,482 | $79,815 | $144,160 | $214,994 |
| Wildwood | $30,604 | $47,700 | $72,790 | $142,920 | $223,094 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Sumter County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bushnell | $216 | $420 | $726 | $1,305 | $1,998 |
| Center Hill | $209 | $402 | $695 | $1,244 | $1,894 |
| Coleman | $168 | $343 | $555 | $954 | $1,375 |
| Lady Lake | $1,039 | $1,584 | $2,112 | $2,642 | $3,275 |
| Lake Panasoffkee | $154 | $324 | $524 | $945 | $1,560 |
| Oxford | $533 | $1,146 | $2,110 | $2,897 | $3,676 |
| Sumterville | $302 | $506 | $916 | $1,578 | $2,415 |
| The Villages | $2,039 | $2,728 | $3,788 | $5,078 | $6,503 |
| Webster | $174 | $354 | $538 | $987 | $1,617 |
| Wildwood | $243 | $394 | $654 | $1,224 | $2,265 |
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 |
|---|---|---|---|---|---|
| Bushnell | 0.79% | 0.78% | 0.65% | 0.73% | 0.80% |
| Center Hill | 0.86% | 0.79% | 0.74% | 0.77% | 0.77% |
| Coleman | 0.99% | 0.97% | 0.82% | 0.94% | 0.86% |
| Lady Lake | 0.72% | 0.94% | 1.08% | 1.08% | 1.07% |
| Lake Panasoffkee | 0.78% | 1.05% | 0.78% | 0.73% | 0.85% |
| Oxford | 0.57% | 0.81% | 1.12% | 1.20% | 1.18% |
| Sumterville | 0.90% | 0.72% | 0.64% | 0.72% | 0.82% |
| The Villages | 1.20% | 1.35% | 1.49% | 1.53% | 1.55% |
| Webster | 0.76% | 0.87% | 0.67% | 0.68% | 0.75% |
| Wildwood | 0.79% | 0.83% | 0.90% | 0.86% | 1.02% |
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Real Estate Values in Sumter County
The median home price in Sumter County, Florida has increased by 14.65% from October 2022 to October 2023, from $332.5K to $381.2K. This is a significant increase in home prices in the area, indicating a strong housing market. At the same time, the home inventory in Sumter County has decreased from 513 in October 2022 to 486 in October 2023, indicating a decrease in the availability of homes for sale. This could be due to a combination of factors, such as an increase in demand for homes in the area or a decrease in the number of homes being put on the market. Overall, this data suggests that the housing market in Sumter County is strong and that home prices are likely to continue to rise in the near future.
Average Home Value in Sumter County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Sumter County
Last updated: November 2023
Percent Change in New Home Listings in Sumter County
Last updated: November 2023
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Mortgage Rates in Sumter County
Sumter County has a total of $5.3 billion in outstanding home mortgage loans, representing 30.8 thousand loans. This is a significant amount of money, representing a large portion of the total home value in the county. The median mortgage rate in Sumter County varies significantly across cities, with Coleman having the highest rate at 5.57% and Oxford having the lowest rate at 3.87%. This variation in rates can have a significant impact on the cost of borrowing for homeowners in the county. It is important for potential borrowers to shop around and compare rates to ensure they are getting the best deal possible.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Sumter County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bushnell | $19,584 | $50,600 | $103,408 | $163,948 | $250,774 |
| Center Hill | $16,057 | $48,256 | $100,348 | $178,557 | $271,309 |
| Coleman | $16,376 | $51,951 | $82,563 | $148,126 | $231,957 |
| Lady Lake | $27,696 | $56,771 | $119,670 | $186,028 | $252,778 |
| Lake Panasoffkee | $14,394 | $33,035 | $74,423 | $131,469 | $172,418 |
| Oxford | $80,573 | $125,013 | $176,735 | $238,979 | $320,269 |
| Sumterville | $23,738 | $52,073 | $127,232 | $215,461 | $295,431 |
| The Villages | $65,857 | $104,224 | $158,684 | $228,673 | $312,082 |
| Webster | $12,846 | $33,679 | $77,539 | $154,517 | $235,388 |
| Wildwood | $23,280 | $51,192 | $103,235 | $178,223 | $240,040 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Sumter County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bushnell | 2.90% | 3.60% | 4.48% | 6.19% | 7.50% |
| Center Hill | 3.07% | 3.85% | 4.75% | 6.72% | 7.70% |
| Coleman | 3.00% | 3.81% | 5.57% | 6.29% | 7.76% |
| Lady Lake | 2.90% | 3.54% | 4.32% | 6.49% | 7.51% |
| Lake Panasoffkee | 2.90% | 3.56% | 4.50% | 6.30% | 7.52% |
| Oxford | 2.80% | 3.10% | 3.87% | 4.50% | 5.65% |
| Sumterville | 3.09% | 3.73% | 4.87% | 6.49% | 7.36% |
| The Villages | 2.90% | 3.40% | 3.96% | 4.70% | 6.10% |
| Webster | 3.12% | 3.87% | 5.00% | 6.60% | 7.61% |
| Wildwood | 2.90% | 3.59% | 4.50% | 6.10% | 7.18% |
Housing Expenses in Sumter County, Florida
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