Average Tax Assessment in Suwannee County
Real Estate Values and Property Tax Valuation in Suwannee County, Florida
Suwannee County has a total of 15,445 properties with a cumulative value of $1.6B. This represents 0.08% of all real estate value in Florida. Property taxes in Suwannee County amount to $19.4M, with an average homeowner paying $1,273 in property taxes, which is significantly lower than the state average of $3,597. The average property tax rate in Suwannee County is 1.20%, which is lower than the state average of 1.34%. Properties are typically valued for tax purposes based on their 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 | |
|---|---|
| Suwannee Property Appraiser | (386) 362-1385 |
| Suwannee Clerk / Recorder | (386) 362-0500 |
| Suwannee Tax Collector | (386) 362-2816 |
| 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 Suwannee County
Residential Property Taxes by Cities in Suwannee County
Suwannee County has an average property tax rate of 1.20%, which is slightly lower than the state average of 1.27%. This rate applies to all properties in the county, regardless of their location. However, the effective property tax rate can vary significantly from city to city. For example, the city of Branford has the highest effective property tax rate in the county at 1.27%, while the city of Mc Alpin has the lowest effective property tax rate at 1.13%. This means that property owners in Branford will pay more in taxes than those in Mc Alpin.
Overall, Suwannee County has a relatively low property tax rate compared to other counties in the state. However, it is important to note that the effective property tax rate can vary significantly from city to city. Property owners should research the effective property tax rate in their city before making any decisions about purchasing or selling property in the county.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Suwannee 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 |
|---|---|---|---|---|---|
| Branford | $27,717 | $44,783 | $75,168 | $119,688 | $193,793 |
| Lake City | $35,642 | $52,604 | $79,869 | $115,443 | $172,338 |
| Live Oak | $31,176 | $50,679 | $80,820 | $128,200 | $192,436 |
| Mc Alpin | $42,688 | $62,795 | $99,190 | $156,515 | $233,972 |
| O Brien | $34,795 | $54,655 | $84,568 | $132,108 | $200,532 |
| Wellborn | $34,509 | $51,912 | $79,551 | $126,310 | $202,706 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Suwannee County.
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.
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Real Estate Values in Suwannee County
The median home price in Suwannee County, Florida remained unchanged from October 2022 to October 2023, at $190,000. However, the home inventory in Suwannee County decreased from 102 in October 2022 to 97 in October 2023, indicating a slight decrease in the availability of homes for sale. This could indicate that the demand for homes in Suwannee County is increasing, which could lead to an increase in home prices in the future.
Average Home Value in Suwannee County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Suwannee County
Last updated: November 2023
Percent Change in New Home Listings in Suwannee County
Last updated: November 2023
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Mortgage Rates in Suwannee County
Mortgages in Suwannee County are a major factor in the local economy, with a total outstanding loan amount of $360.6 million across 3,100 loans. This represents a significant portion of the county's total home value, and demonstrates the importance of home ownership in the area.
The median mortgage rate in Suwannee County varies across cities, with Lake City having the highest rate at 4.5%, and O Brien having the lowest rate at 4.18%. This variation in rates is a reflection of the different economic conditions across the county, and provides an opportunity for potential home buyers to find the best deal for their needs. Overall, mortgages in Suwannee County are an important part of the local economy, and provide an opportunity for home ownership in the area.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Suwannee County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Branford | $24,139 | $46,365 | $78,257 | $124,644 | $184,558 |
| Lake City | $22,276 | $44,079 | $77,654 | $139,782 | $223,245 |
| Live Oak | $23,355 | $48,557 | $89,828 | $142,247 | $206,901 |
| Mc Alpin | $27,299 | $60,349 | $104,352 | $178,235 | $265,721 |
| O Brien | $18,048 | $39,471 | $83,823 | $153,726 | $245,132 |
| Wellborn | $28,133 | $51,610 | $99,112 | $137,786 | $248,616 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Suwannee County.
Housing Expenses in Suwannee County, Florida
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