Example of Citrus County Property Tax Calculation
Citrus County calculates property tax based on the assessed value of the property. To calculate the tax, the county multiplies the assessed value by the millage rate, which is determined by the county commission.
For example, if a property in Citrus County has an assessed value of $100,000 and the millage rate is 10 mills, the property tax would be $1,000. This is calculated by multiplying the assessed value ($100,000) by the millage rate (10 mills), which equals $1,000.
It is important to note that there may be additional taxes and fees that are specific to certain areas within Citrus County. These should be taken into consideration when calculating total property tax owed.
If you want appeal your property tax assessment - contact your local tax assessor.
Citrus County Property Tax Rates
Here is a table of Citrus County Property Tax Rates for the year 2021:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Countywide | $6.8486 |
| City of Crystal River | $5.9456 |
| City of Inverness | $5.7050 |
| City of Dunnellon | $5.9040 |
Please note that these rates are subject to change and should be verified with the Citrus County Property Appraiser's Office.
Who sets property tax rates in Citrus County ?
Who sets property tax rates in Citrus County?
The property tax rates in Citrus County are determined by the following entities:
| Entity | Role |
|---|---|
| Citrus County Board of Commissioners | Sets the millage rate for the county's portion of property taxes |
| School Board | Determines the millage rate for school taxes |
| City or Town Councils | Establish the millage rates for their respective municipality |
When are property tax rates set in Citrus County?
The property tax rates in Citrus County are typically set in late summer or early fall each year. The exact dates may vary slightly from year to year, but property owners are typically notified of the new rates by mail in November or December. It is important to note that property tax rates can change from year to year based on a variety of factors, including changes in property values and local government budgets.
Homestead exemptions in Citrus County ?
Here is the requested table with columns for exemption, eligibility, amount, and notes for all county-specific homestead exemptions and deductions in Citrus County, Florida:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead exemption | Primary residence owned and occupied by applicant | Up to $50,000 | Reduces taxable value of property |
| Senior homestead exemption | Primary residence owned and occupied by applicant who is 65 or older | Additional $50,000 | Reduces taxable value of property |
| Disability homestead exemption | Primary residence owned and occupied by applicant with a permanent disability | Additional $50,000 | Reduces taxable value of property |
| Veterans with Disabilities homestead exemption | Primary residence owned and occupied by veterans with permanent service-connected disabilities | Up to $50,000 | Reduces taxable value of property |
| Deployed military exemption | Primary residence owned and occupied by a service member deployed during the previous calendar year | Up to $1,500 | Reduces taxable value of property |
| Widower's/Widow's exemption | Primary residence owned and occupied by surviving spouse of a deceased veteran | Up to $5,000 | Reduces taxable value of property |
| Total and permanent disability exemption | Primary residence owned and occupied by applicant with total and permanent disability | Up to $5,000 | Reduces taxable value of property |
| Agricultural classification | Property used for bona fide agricultural purposes | Varies | Reduces taxable value of property |
Note that eligibility and amounts may vary depending on individual circumstances and should be confirmed with the Citrus County Property Appraiser's Office.
When is Citrus County Property Tax due ?
Citrus County Property Tax is typically due on March 31st of each year. However, if the due date falls on a weekend or holiday, the deadline is extended until the next business day.
There are several payment methods available for the convenience of taxpayers:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay online using a credit card or e-check through the Citrus County Tax Collector's website. |
| Payments can be mailed to the Citrus County Tax Collector's Office. The address is listed on the tax bill. | |
| In Person | Taxpayers can pay in person at any Citrus County Tax Collector's Office location. Cash, check, or credit card are accepted. |
| Drop Box | A drop box is available outside of each Citrus County Tax Collector's Office location for after-hours payment drop-offs. |
It is important for taxpayers to remember to make their payment on time to avoid late fees and penalties. If a taxpayer is unable to pay the full amount by the due date, they may be eligible for a payment plan through the Tax Collector's Office.
If you have more questions - contact your local tax collector.
How is Citrus County Property Tax penalty calculated ?
Citrus County Property Tax Penalty Calculation
In Citrus County, Florida, property owners are required to pay their property taxes by November 30th of each year. Failure to pay on time incurs penalty and interest charges. The penalty for late payment is 3% for the first month and an additional 1.5% for each month thereafter, up to a maximum of 18%.
To better understand how Citrus County calculates property tax penalties, let's take a look at the following example:
John owns a property in Citrus County assessed at $150,000. The property tax bill for the year is $2,500, due on November 30th. If John fails to pay on time, he will incur the following penalty charges:
| Month | Penalty | Calculation | Total |
|---|---|---|---|
| December | 3% | $2,500 x 3% = $75 | $2,575 |
| January | 1.5% | $2,500 x 1.5% = $37.50 | $2,612.50 |
| February | 1.5% | $2,500 x 1.5% = $37.50 | $2,650 |
John's total property tax bill with penalties as of February 1st would be $2,650.
It's important to note that if any portion of the property tax bill remains unpaid after May 1st, an additional penalty of 1.5% per month (or a fraction thereof) will be added until the taxes are paid in full.
In conclusion, Citrus County property tax penalties are calculated based on a percentage of the total amount due each month. Property owners should ensure they pay their property taxes on time to avoid incurring penalty fees.
We recommend contacting the Citrus County Tax Office or a local tax professional for the most up-to-date and accurate information.