lowest property tax in Florida

Where Is the Lowest Property Tax in Florida?

Overall, property taxes in Florida aren’t particularly high, making the state an attractive option for anyone who wants to own a house but doesn’t want to be overwhelmed when it’s time to pay their property taxes. Overall, the Sunshine State’s effective rate of 0.83 percent is below the national average of 1.07 percent. However, rates inside the state can vary from one county to the next, causing some Floridians to pay far more than others when their property tax bills come due. If you are wondering, “Where is the lowest property tax in Florida?” here’s what you need to know.

Where Is the Lowest Property Tax in Florida?

You’ll find the lowest property tax rates in Florida in Walton County, coming in at 0.69 percent. However, the effective tax rate is closer to 0.53 percent due to the use of deductions and exclusions in the area.

However, both Jackson and Santa Rosa Counties come in close to that mark. They have property tax rates of 0.73 and 0.77 percent, respectively. As for their effective tax rates, Jackson County is near 0.60 percent, while Santa Rosa County is about 0.73 percent.

There are actually other counties with lower effective tax rates than Santa Rosa County. For example, Bay and Collier Counties are both at 0.69 percent, and Franklin is a surprising 0.56 percent.

Incidentally, here is a really nice mansion in Walton County. Per Redfin, its priced at $7.5 Million.

Source: Redfin.com.

Factors Influencing the Effective Tax Rate

As mentioned above, the effective tax rate factors in credits, exemptions, and similar cost-reducing options that may be available to residents. One of the most widely used ones is the homestead exemption, allowing owner-occupiers not to owe taxes on the first $25,000 or a property’s value and an additional $25,000 from non-school-related taxation.

There are also property tax reduction programs for military members and veterans, individuals age 65 and over, and certain other groups. However, even that only scratches the surface. As a result, many people only pay taxes on a portion of their property’s value if they occupy the home.

Do you think that property tax differences significantly impact your budget? Would you intentionally hunt down the lowest property taxes in Florida or simply choose the city or home that best meets your needs? Share your thoughts in the comments below.

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