Key Colony Beach, Monroe County, Florida Property Taxes

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Property Taxes in Key Colony Beach, Florida

Median Key Colony Beach, Florida effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, and lower than the Florida state median of 1.10%.
Median Key Colony Beach, Florida home value: $765,355
Median annual Key Colony Beach, Florida tax bill: $6,525, higher by $4,125 than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

Property taxes in Key Colony Beach, Florida are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Key Colony Beach's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Key Colony Beach, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Key Colony Beach, Monroe County, Florida Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.86%

Estimate Property Tax Bill

$6,582

$6,108

How Does the Key Colony Beach Property Tax Calculator Work?

Use this Key Colony Beach property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Key Colony Beach's median effective tax rate of 0.86% — based on actual property records in Monroe County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Key Colony Beach's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Key Colony Beach: rates range from 0.86% in 33051 to 0.86% in 33051, primarily due to differences in school district levies and local assessment districts.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Key Colony Beach.

About Key Colony Beach Property Taxes

About Property Taxes in Key Colony Beach, Monroe, Florida

Key Colony Beach’s median effective property tax rate of 0.86% is lower than the Florida state median of 1.10% and lower than the national median of 1.02%. This rate reflects the Monroe County base levy combined with local school district levies and Municipal Service Benefit Units that vary by subdivision throughout the city.

Property tax rates are not uniform across Key Colony Beach. Homeowners in ZIP code 33051 carry a median effective rate of 0.86%, while those in 33051 pay 0.86%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Monroe County. Understanding which part of Key Colony Beach you live in can make a meaningful difference to your annual tax bill.

Key Colony Beach homeowners who believe their assessed value is too high can file a formal appeal with the Property Appraiser before the September 15, 2026 deadline each year.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Key Colony Beach, Monroe County, Florida

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.

While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Below, you can compare Key Colony Beach's effective property tax rate to other cities in Florida and the median property tax rates in Florida and the U.S.

Property Tax Rates Across Key Colony Beach, Monroe County, Florida

Source: Ownwell

0.66%

0.76%

0.86%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Key Colony Beach Tax Rate

0.86%

Median Effective Monroe County Tax Rate

0.72%

Median Effective Florida Tax Rate

1.10%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Key Colony Beach, Monroe County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
33051	0.51%	0.77%	0.86%	0.96%	1.04%

Source: Ownwell

Property Tax Assessment Values Across Key Colony Beach, Monroe County, Florida

When examining property taxes in Key Colony Beach, understanding the distinction between market value and assessed value is crucial.

The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Monroe County property appraiser estimates the market value for tax purposes.

The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices:

In Monroe County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of August.

Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. For example, the median home price in Key Colony Beach is $765,355, with tax bills ranging significantly across the county. 33051 has the highest median home price at $765,355.

Property Tax Assessment Values Across Key Colony Beach, Monroe County, Florida

Source: Ownwell

$365,490

$1,120,322

$1,875,153

Median Key Colony Beach Market Value

$765,355

Median Monroe County Market Value

$784,940

Median Florida Market Value

$310,033

Median United States Market Value

$235,294

Property Tax Assessment Values Across Key Colony Beach, Monroe County, Florida

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
33051	$384,580	$585,141	$765,355	$1,148,898	$1,779,495

Source: Ownwell

Property Tax Bills Across Key Colony Beach, Monroe County, Florida

Property tax bills in Key Colony Beach are calculated from a home’s assessed value and the local tax rate, which together determine what a homeowner owes each year. When a property’s market value rises, the assessed value can increase as well, which may lead to a higher tax bill. Local taxing authorities use this value to fund public services, so the bill is tied directly to the home’s worth and the rates set in Monroe County.

For homeowners in Key Colony Beach, the median home price is $765,355, and the median property tax bill is $6,525. That is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills can vary widely, with the 25th percentile at $4,595 and the 75th percentile at $9,163, while the 90th percentile reaches $14,093.

Property Tax Bills Across Key Colony Beach, Monroe County, Florida

Source: Ownwell

$2,640

$7,697

$12,754

Median Key Colony Beach Tax Bill

$6,525

Median Monroe County Tax Bill

$5,260

Median Florida Tax Bill

$3,263

Median United States Tax Bill

$2,400

Property Tax Bills Across Key Colony Beach, Monroe County, Florida

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
33051	$2,868	$4,595	$6,525	$9,163	$14,093

Source: Ownwell

Don't miss the deadline to petition!

Dates
Property Valuation Date	January 1
Appeal Deadline	September 15
Tax Bill
Issued	November 1

Links
Monroe Property Appraiser
Website	qpublic.schneidercorp.com

Frequently Asked Property Tax Questions in Key Colony Beach, Florida

How are property taxes calculated in Key Colony Beach, Florida?

Property taxes in Key Colony Beach, Florida are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Key Colony Beach, Florida?

To appeal your property taxes in Key Colony Beach, Florida, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Key Colony Beach, Florida?

Common property tax exemptions in Key Colony Beach, Florida include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Key Colony Beach, Florida?

Property tax deadlines in Key Colony Beach, Florida vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Key Colony Beach, Florida?

Ownwell provides professional property tax appeal services in Key Colony Beach, Florida. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.