Average Tax Assessment in Taylor County

Taylor County has 8,572 properties with a cumulative value of $783.5M, representing 0.04% of all real estate value in Florida. The average property tax rate in Taylor County is 1.10%, which is lower than the state average of 1.34%. Property taxes in Taylor County totaled $8.6M, with the average homeowner paying $1,005 in property taxes compared to the state average of $3,597. Property taxes are typically based on the assessed value of the property, which is usually 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.

Taylor County has an average property tax rate of 1.10%, which is slightly lower than the state average of 1.12%. This rate is applied to the assessed value of a property to calculate the total amount of taxes due. Property taxes in Taylor County are collected by the county government and are used to fund public services such as schools, roads, and public safety.

The effective property tax rate in Taylor County varies across the cities, with Steinhatchee having the highest rate at 1.15% and Perry having the lowest rate at 1.09%. This difference in rates is due to the varying assessed values of properties in each city. Property taxes in Taylor County are generally lower than the rest of the state, making it an attractive place to live for those looking for lower taxes.

The data from Redfin shows that the median home price in Taylor County, Florida has decreased significantly from October 2022 to October 2023, dropping by 56.44%. This indicates that the housing market in Taylor County has cooled off significantly in the past year. Additionally, the home inventory in Taylor County has also decreased, from 106 homes in October 2022 to 69 homes in October 2023. This suggests that the demand for homes in Taylor County has decreased, leading to a decrease in home prices.

Taylor County is home to a large number of outstanding home mortgage loans, totaling $171.8M. This represents an average of 1.6K loans per county, which is a significant amount of money. The median mortgage rate across Taylor County is 4.4%, which is slightly lower than the national average. However, there is a significant variation in mortgage rates across the county, with Perry having the highest median rate of 4.5% and Steinhatchee having the lowest rate of 4.3%. This variation in rates can have a significant impact on the total amount of money that homeowners in Taylor County will pay for their mortgages.

Overall, Taylor County has a large number of outstanding home mortgage loans, representing a significant percentage of total home value. The median mortgage rate across the county is slightly lower than the national average, but there is a significant variation in rates across the county. Homeowners should take this into consideration when shopping for a mortgage in Taylor County, as it can have a major impact on their total loan amount.