Average Tax Assessment in Walton County
Real Estate Values and Property Tax Valuation in Walton County, Florida
Walton County has a total of 52,242 properties with a cumulative value of $24.8B. This accounts for 1.20% of all real estate value in Florida. Property taxes in Walton County totaled $217.4M, with the average homeowner paying $4,202 in property taxes, which is higher than the state average of $3,597. The average property tax rate in Walton County is 0.88%, lower than the state average of 1.34%. Property taxes are 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 | |
|---|---|
| Walton Assessor | (770) 267-1352 |
| Walton Clerk / Recorder | (850) 892-8115 |
| Walton Tax Commissioner | (770) 266-1736 |
| Walton Tax Collector | (850) 892-8121 |
| 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 Walton County
Residential Property Taxes by Cities in Walton County
Walton County has an average property tax rate of 0.88%, which is slightly lower than the national average of 1.08%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Walton County are collected by the county government and are used to fund local services such as schools, roads, and public safety.
Property tax rates in Walton County vary across the cities, with Inlet Beach having the highest effective property tax rate of 0.92% and Ponce De Leon having the lowest effective property tax rate of 0.59%. This means that property owners in Inlet Beach will pay more in taxes than those in Ponce De Leon. Property taxes are an important source of revenue for local governments, so it is important to understand the differences in rates across 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 Walton 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 |
|---|---|---|---|---|---|
| Defuniak Springs | $16,725 | $33,102 | $66,492 | $116,931 | $186,737 |
| Freeport | $35,435 | $75,357 | $182,766 | $268,027 | $346,403 |
| Inlet Beach | $327,938 | $468,770 | $681,322 | $1,309,517 | $2,472,673 |
| Laurel Hill | $19,972 | $42,345 | $65,630 | $114,372 | $181,524 |
| Miramar Beach | $158,438 | $239,880 | $351,912 | $511,224 | $884,080 |
| Niceville | $48,380 | $80,018 | $131,068 | $187,145 | $274,002 |
| Ponce De Leon | $13,072 | $24,976 | $56,032 | $104,611 | $176,374 |
| Santa Rosa Beach | $166,541 | $258,629 | $424,635 | $764,386 | $1,416,240 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Walton County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Defuniak Springs | $100 | $218 | $430 | $803 | $1,313 |
| Freeport | $237 | $520 | $1,426 | $2,549 | $3,429 |
| Inlet Beach | $2,477 | $3,970 | $6,179 | $12,197 | $23,714 |
| Laurel Hill | $111 | $227 | $401 | $674 | $1,137 |
| Miramar Beach | $1,291 | $2,036 | $3,133 | $4,658 | $7,872 |
| Niceville | $273 | $461 | $825 | $1,350 | $1,958 |
| Ponce De Leon | $75 | $155 | $310 | $608 | $1,053 |
| Santa Rosa Beach | $1,086 | $1,976 | $3,572 | $6,974 | $13,021 |
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 |
|---|---|---|---|---|---|
| Defuniak Springs | 0.60% | 0.66% | 0.65% | 0.69% | 0.70% |
| Freeport | 0.67% | 0.69% | 0.78% | 0.95% | 0.99% |
| Inlet Beach | 0.76% | 0.85% | 0.91% | 0.93% | 0.96% |
| Laurel Hill | 0.56% | 0.54% | 0.61% | 0.59% | 0.63% |
| Miramar Beach | 0.81% | 0.85% | 0.89% | 0.91% | 0.89% |
| Niceville | 0.56% | 0.58% | 0.63% | 0.72% | 0.71% |
| Ponce De Leon | 0.57% | 0.62% | 0.55% | 0.58% | 0.60% |
| Santa Rosa Beach | 0.65% | 0.76% | 0.84% | 0.91% | 0.92% |
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Real Estate Values in Walton County
The median home price in Walton County, Florida has increased by 9.26% from October 2022 to October 2023, from $712.5K to $778.5K. This is a significant increase in home prices in the area, indicating a strong housing market. Additionally, the home inventory in Walton County has also increased from 1.7K in October 2022 to 2.0K in October 2023, indicating that there is an increased demand for housing in the area.
Average Home Value in Walton County, Florida
Last updated: November 2023
Percent Change in Total Home Sales in Walton County
Last updated: November 2023
Percent Change in New Home Listings in Walton County
Last updated: November 2023
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Mortgage Rates in Walton County
Walton County has a total of $9.1 billion in outstanding home mortgage loans, with 22.6 thousand loans outstanding. This represents a significant portion of the total home value in the county, indicating that many people are taking advantage of the low interest rates to purchase or refinance their homes. The median mortgage rate in Walton County varies from city to city, with the highest rate being 4.3% in Ponce De Leon and the lowest rate being 3.6% in Inlet Beach. This variation in rates across counties allows people to find the best deal for their particular situation, and helps to ensure that everyone is able to access the best possible rate.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Walton County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Defuniak Springs | $25,672 | $54,677 | $100,525 | $156,347 | $225,037 |
| Freeport | $84,110 | $139,542 | $204,139 | $285,474 | $371,623 |
| Inlet Beach | $204,323 | $321,664 | $495,646 | $868,291 | $1,587,197 |
| Laurel Hill | $18,803 | $42,534 | $95,928 | $151,111 | $238,062 |
| Miramar Beach | $101,216 | $165,008 | $268,240 | $421,365 | $637,651 |
| Niceville | $55,390 | $91,493 | $153,164 | $237,202 | $289,967 |
| Ponce De Leon | $25,070 | $46,220 | $95,090 | $170,157 | $255,342 |
| Santa Rosa Beach | $115,428 | $193,204 | $314,062 | $524,056 | $972,125 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Walton County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Defuniak Springs | 2.90% | 3.55% | 4.25% | 5.70% | 6.65% |
| Freeport | 2.80% | 3.09% | 3.75% | 4.48% | 5.66% |
| Inlet Beach | 2.75% | 2.99% | 3.60% | 4.20% | 5.06% |
| Laurel Hill | 2.90% | 3.43% | 4.12% | 5.68% | 7.00% |
| Miramar Beach | 2.80% | 3.10% | 3.88% | 4.62% | 6.03% |
| Niceville | 3.22% | 3.72% | 4.29% | 5.50% | 6.46% |
| Ponce De Leon | 3.02% | 3.59% | 4.30% | 5.55% | 6.88% |
| Santa Rosa Beach | 2.80% | 3.10% | 3.79% | 4.40% | 5.50% |
Housing Expenses in Walton County, Florida
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