Example of Hillsborough County Property Tax Calculation
Hillsborough County calculates property tax by multiplying the assessed value of a property by the millage rate. For example, if a property's assessed value is $100,000 and the millage rate is 10, the property tax would be $1,000. The assessed value is determined by the Hillsborough County Property Appraiser, who takes into account factors such as the size and condition of the property. The millage rate is set by the Hillsborough County Board of Commissioners and varies depending on the specific area and services provided. Property owners in Hillsborough County can expect to receive an annual property tax bill, which is due by March 31st of each year.
If you want appeal your property tax assessment - contact your local tax assessor.
Hillsborough County Property Tax Rates
Here is the table of Hillsborough County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Countywide | $0.8473 |
| Fire and Rescue Service | $0.8473 |
| Solid Waste Management | $0.1268 |
| Stormwater Management | $0.0685 |
| Unincorporated County MSTU | $0.2461 |
| City of Tampa | $0.0407 |
| City of Temple Terrace | $0.0535 |
Please note that these rates are subject to change and may vary based on the specific property location and classification. It is recommended to consult with a qualified tax advisor for more information on Hillsborough County Property Tax rates.
Who sets property tax rates in Hillsborough County ?
Who sets property tax rates in Hillsborough County?
Property tax rates in Hillsborough County are set by the Hillsborough County Property Appraiser's Office.
When are property tax rates set in Hillsborough County?
Property tax rates in Hillsborough County are set annually, before the start of each fiscal year. The fiscal year for Hillsborough County begins on October 1st and ends on September 30th of the following year.
How are property tax rates determined in Hillsborough County?
Property tax rates in Hillsborough County are determined based on the assessed value of a property, which is calculated by the Hillsborough County Property Appraiser's Office. The property tax rate is then calculated based on the total budget needs of the county, as determined by the Hillsborough County Board of County Commissioners.
The following table shows the current property tax rates in Hillsborough County for the fiscal year 2021:
| Type of Property | Tax Rate (per $1000 of assessed value) |
|---|---|
| Residential | 18.4210 |
| Commercial | 19.7873 |
| Tangible | 18.7022 |
It's important to note that property owners may be eligible for exemptions or deductions, which can lower their overall property tax bill. Property owners in Hillsborough County should consult with the Hillsborough County Property Appraiser's Office for more information on exemptions and deductions.
Homestead exemptions in Hillsborough County ?
Table: County Specific Homestead Exemptions and Deductions in Hillsborough County, Florida
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Primary residence in Hillsborough County | Up to $50,000 | Reduces taxable value of property |
| Additional Homestead Exemption | Age 65+, with an annual household income below $30,174 | Up to $25,000 | Reduces taxable value of property |
| Widow(er)’s Exemption | Widow(er) with a primary residence in Hillsborough County | Up to $500 | Reduces taxable value of property |
| Disability Exemption | Permanent disability with a primary residence in Hillsborough County | Up to $500 | Reduces taxable value of property |
| Veteran’s Exemption | Honorably discharged veteran with a service-connected disability | Up to $5,000 | Reduces taxable value of property |
| Deployed Military Exemption | Deployed military personnel with a primary residence in Hillsborough County | Up to $10,000 | Reduces taxable value of property |
| Senior Citizen Low Income Exemption | Age 65+, with an annual household income below $30,174 | Up to $50,000 | Reduces taxable value of property |
| Disabled Veteran’s Exemption | Honorably discharged veteran with a service-connected total and permanent disability | Up to the first $5,000 of taxable value | 100% exemption |
Note: To qualify for these exemptions and deductions, residents must file an application with the Hillsborough County Property Appraiser's Office. These exemptions and deductions only apply to the county property tax and not to any other taxes such as school or city taxes.
When is Hillsborough County Property Tax due ?
Hillsborough County Property Tax Due Date and Payment Methods
Property taxes are a significant expense for property owners in Hillsborough County, Florida. To avoid late penalties and interest fees, it's essential to know the due date and payment methods for the property tax bills.
Due Date:
Hillsborough County Property taxes are typically due by March 31st of each year. The tax bills are usually mailed out in November and become payable on December 1st, the following year.
Payment Methods:
Hillsborough County provides several convenient ways to pay property taxes. The accepted payment methods are:
- Online Payment: Property owners can pay their taxes online using the county's website. The website accepts electronic checks (eChecks), credit cards, and debit cards. However, a convenience fee of 2.39% is charged for credit and debit card payments.
- Mail-In Payment: Property owners can also mail their tax payments to the Hillsborough County Tax Collector's Office. The payments should be in the form of a check or money order payable to the Hillsborough County Tax Collector.
- In-Person Payment: Property owners can pay their taxes in-person at any of the Hillsborough County Tax Collector's Office locations. The payments can be made in cash, check, or money order.
Conclusion:
In summary, Hillsborough County Property taxes are due by March 31st of each year. Property owners can pay their taxes using online payment, mail-in payment, or in-person payment. It's essential to pay property taxes on time to avoid late penalties and interest fees.
If you have more questions - contact your local tax collector.
How is Hillsborough County Property Tax penalty calculated ?
Hillsborough County calculates the property tax penalty according to the following formula:
Penalty = [(Tax Due) x (0.015) x (Number of Unpaid Months)]
For example, suppose a property owner failed to pay their full property tax of $5,000 by the due date in January. It is now April, and they still haven't paid. The penalty would be calculated as follows:
Penalty = $5,000 x 0.015 x 3 = $225
Therefore, the property owner would owe a total of $5,225 ($5,000 in tax due plus a $225 penalty) to Hillsborough County. It's important to note that this penalty will continue to accrue each month that the tax remains unpaid.
If you need more information or have any questions about Hillsborough County Property Tax penalties, you should contact the Hillsborough County Tax Collector's office.
We recommend contacting the Hillsborough County Tax Office or a local tax professional for the most up-to-date and accurate information.