Example of Florence County Property Tax Calculation
Florence County calculates property taxes based on the assessed value of the property. For example, if a property in Florence County has an assessed value of $100,000, the property tax rate of 0.80% would be applied. This means that the property owner would owe $800 in property taxes for the year. Property taxes are due annually and must be paid by the specified due date to avoid penalties and interest charges. Florence County property owners can view their property tax bill online and may also be eligible for certain exemptions or deductions that could reduce their tax liability.
If you want appeal your property tax assessment - contact your local tax assessor.
Florence County Property Tax Rates
Here is a table displaying the property tax rates for Florence County in US dollars per $100 of assessed value:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| County | $0.98 |
| Municipal | $0.00 - $1.32 (rates vary by city/town) |
| School District | $1.15 - $1.65 (rates vary by district) |
As a tax advisor, it's important to note that property tax rates may change annually and can vary based on factors such as property type and location. It's always recommended to consult with a local tax professional for the most up-to-date and accurate information.
Who sets property tax rates in Florence County ?
Who sets property tax rates in Florence County?
In Florence County, the Board of County Commissioners is responsible for setting the property tax rates. The Board meets each year in the fall to review the county budget and determine the tax rate for the upcoming year.
When are property tax rates set in Florence County?
As per the state law, Florence County must set their property tax rates no later than November 1st of each year. The Board of County Commissioners typically holds public hearings on the proposed tax rate in September or October, before making a final decision.
Summary:
| Florence County Property Tax Rates | |
|---|---|
| Who sets the tax rates | Board of County Commissioners |
| When are tax rates set | No later than November 1st each year |
| Public hearings | Typically held in September or October |
Homestead exemptions in Florence County ?
The following table lists the Homestead exemptions and deductions specific to Florence County in Wisconsin:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| School Property Tax Exemption | All homeowners in Florence County | Varies based on property value and school district | Must file an application with the county treasurer |
| Disabled Veteran Homestead Tax Credit | Resident veterans with service-connected disabilities | Up to $30,000 of property value | Must have a disability rating of at least 70% |
| Surviving Spouse of a Veteran Homestead Tax Credit | Unmarried surviving spouses of a veteran who died as a result of service | Up to $50,000 of property value | Must have been married to the veteran at the time of their death |
| Elderly and Disabled Property Tax Credit | Homeowners aged 65 and older or those with disabilities | Up to $1,270 tax credit | Must meet income and residency requirements |
| Agricultural Land Exemption | Owners of agricultural land used for farming purposes | Exempt from school, county, and municipal property taxes | Must file an application with the county assessor |
Notes:
- Florence County offers additional exemptions and deductions not listed here. Check with the county treasurer's office for more information.
- Some exemptions require the homeowner to file an application before a certain deadline. Check with the county treasurer's office for specific deadlines.
- Eligibility requirements for exemptions and deductions may change over time. Check with the county treasurer's office for up-to-date information.
When is Florence County Property Tax due ?
Florence County Property Tax is typically due on January 15th of each year. However, if the due date falls on a weekend or holiday, the payment is due on the next business day.
There are several payment methods available for Florence County Property Tax. These include:
| Payment Method | Description |
|---|---|
| Online Payment | Payments can be made online through the Florence County website using a credit or debit card. A convenience fee is charged for this service. |
| Payments can be mailed to the Florence County Treasurer's Office with a check or money order. The payment must be postmarked by the due date to avoid penalties. | |
| In-person | Payments can be made in person at the Florence County Treasurer's Office with cash, check, or money order. Credit and debit cards are not accepted in person. |
It is important to note that late property tax payments are subject to penalties and interest charges. Therefore, it is recommended that taxpayers pay their Florence County Property Tax on time to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Florence County Property Tax penalty calculated ?
Florence County calculates property tax penalties based on a specific formula. The penalty is levied when a property owner fails to pay their taxes by the due date. Here is an explanation of how the penalty is calculated, along with an example:
Penalties for Late Payment of Property Taxes in Florence County
Penalty Rate
The penalty rate for late payment of property taxes in Florence County is determined by the state of South Carolina. It is set at a rate of 3% for the first month and 0.5% for each additional month (up to a maximum of 12 months).
Calculation Example
Suppose a property owner in Florence County owes $10,000 in property taxes for the year 2021. The tax payment is due on January 15, 2022. If the property owner fails to pay by the due date, the penalty will start accruing. Here is how the penalty will be calculated:
- Month 1: The penalty for the first month will be 3% of the tax amount, which is $300. The total amount due will be $10,300 ($10,000 + $300).
- Month 2: The penalty for the second month will be 0.5% of the tax amount, which is $50. The total amount due will be $10,350 ($10,000 + $300 + $50).
- Month 3: The penalty for the third month will also be 0.5% of the tax amount, which is $50. The total amount due will now be $10,400 ($10,000 + $300 + $50 + $50).
- And so on...
The penalty will continue to accrue each month until the taxes are paid in full or until the penalty reaches the maximum of 12 months.
In conclusion, it is important for property owners in Florence County to pay their property taxes on time to avoid penalties. If you have any questions about your property taxes or the penalty calculation, you can contact the Florence County tax office for assistance.
We recommend contacting the Florence County Tax Office or a local tax professional for the most up-to-date and accurate information.