Leesburg, Franklin County, Florida Property Taxes

Local government entities are responsible for setting tax rates, which can vary significantly even within the same state. Annually, each county, such as 12037 in Florida, determines its required budget to provide essential services. This budget is then divided by the total assessed value of all taxable property within the jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental process followed each year.

Leesburg's effective property tax rate can be compared to other cities in Florida and the national median. Florida's median property tax rate stands at 0.86%, which is below the national median of 1.02%. This means that homeowners in Leesburg and throughout Florida generally enjoy lower property tax rates compared to the national average. Understanding these rates is crucial for property owners looking to manage their expenses effectively. By appealing or seeking exemptions, property owners can potentially reduce their tax burden, making it essential to stay informed about local tax trends and opportunities.

In Leesburg, located in Franklin County, FL, property tax bills are calculated based on the assessed value of a home and the local tax rate. With the median home price at $569,675, homeowners can expect their property taxes to be a significant expense. The tax bill for many residents, including those at the 25th, 75th, and 90th percentiles, is around $4,880, which is considerably higher than the national median property tax bill of $2,400. This difference can be attributed to the local tax rate and the assessed value of properties in the area.

For homeowners, these taxes represent a substantial financial obligation. However, there is potential for savings. Ownwell specializes in property tax appeal and exemption services, offering homeowners a chance to reduce their tax burden. By analyzing local property assessments and market trends, Ownwell can identify opportunities for appealing excessive valuations, thereby lowering tax bills. This assistance can lead to significant savings, helping homeowners manage their expenses more effectively.