Example of Levy County Property Tax Calculation
In Levy County, property taxes are calculated based on the assessed value of the property. The assessed value is determined by the county property appraiser's office.
To calculate the property taxes for a specific property, the assessed value is multiplied by the millage rate, which is set by the Levy County Commission. For example, if the assessed value of a property is $100,000 and the millage rate is 10, the property taxes would be $1,000 ($100,000 x 0.01).
It's important to note that exemptions and deductions may apply to the assessed value, which can lower the amount of property taxes owed. These can include homestead exemptions for primary residences, as well as exemptions for veterans or senior citizens.
Overall, property taxes play an important role in funding local government services and public schools in Levy County.
If you want appeal your property tax assessment - contact your local tax assessor.
Levy County Property Tax Rates
Here's a table showing the Levy County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Taxes | $7.82 |
| School Board Taxes | $6.29 |
| Municipal Taxes | Variable (depending on city/town) |
| Special District Taxes | Variable (depending on district) |
Please note that the municipal and special district taxes may vary depending on the specific city/town or district in which the property is located. It's always best to consult with a local tax advisor for the most accurate information.
Who sets property tax rates in Levy County ?
In Levy County, property tax rates are set by the Board of County Commissioners. They typically hold public hearings in September to discuss and set the rates for the upcoming fiscal year. The tax rates are based on the assessed value of the property and are vital in funding local government services and infrastructure projects. Property owners in Levy County can check their property tax rates on the county's website or by contacting the Levy County Property Appraiser's Office.
When is Levy County Property Tax due ?
Levy County Property Tax Due Date and Payment Methods
*Typically, Levy County Property Tax is due on March 31st. However, due to the COVID-19 pandemic, the deadline for 2020 property taxes was extended until April 15th. It is important to note that property owners in Levy County should always verify the due date with the county tax collector's office.
*There are several easy payment methods available for property owners in Levy County. Payments can be made in person at the tax collector's office, by mail, online, or by phone. To pay in person, property owners can visit one of the tax collector's office locations in Bronson or Chiefland. Payments by mail should be sent to the address listed on the property tax bill. To pay online, property owners can visit the Levy County Tax Collector's website and use their credit or debit card or an eCheck. Payments can also be made over the phone by calling the tax collector's office at (352) 486-5172.
*It is important for property owners in Levy County to pay their property taxes on time to avoid penalties and interest charges. Failure to pay property taxes can result in a tax lien being placed on the property, which can lead to foreclosure. Property owners are encouraged to contact the Levy County Tax Collector's office with any questions or concerns about property tax payments.
If you have more questions - contact your local tax collector.
Homestead exemptions in Levy County ?
To assist homeowners in Levy County, Florida, here is a table that outlines Homestead exemptions and deductions that are specific to this county.
Homestead Exemptions and Deductions in Levy County, Florida
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Florida residents that own and occupy a property as their primary residence on January 1st of the year for which the exemption is claimed | Up to $50,000 | Reduces the assessed value of the property for taxation purposes |
| Additional Exemption for Persons 65 and older | Florida residents aged 65 and older, with a household income below certain thresholds | Up to $50,000 | In addition to the regular Homestead Exemption |
| Disabled Veterans | Honorably discharged veterans with a service-connected disability | Up to $5,000 | Additional exemption on property taxes |
| Widow(er) Exemption | Surviving spouses of veterans or first responders who died in the line of duty | Up to $5,000 | Additional exemption on property taxes |
| Deployment Exemption | Members of the military who were deployed overseas during the previous year | Up to $5,000 | Additional exemption on property taxes |
| Agricultural Classification | Property owners who use their land for bona fide agricultural purposes | Varies | Possible reduction in property taxes |
It is important to note that eligibility requirements and exemption amounts can change, and homeowners should contact the Levy County Property Appraiser's Office for the most up-to-date information.
How is Levy County Property Tax penalty calculated ?
Levy County Property Tax Penalty Calculation
When property owners in Levy County fail to pay their property taxes on time, they are subject to penalties and interest charges. The penalty for late payment of property taxes in Levy County is calculated as a percentage of the unpaid taxes, as follows:
- 3% penalty is added on the unpaid tax balance on April 1st
- Each month after April 1st, an additional 1.5% penalty is added to the unpaid tax balance
Let's take an example to understand the calculation of Levy County property tax penalty:
Suppose a property owner owes $2,000 in property taxes for the year 2020 in Levy County, Florida. The due date for the taxes is March 31, 2021. The owner fails to pay the taxes by the due date and pays them on May 15, 2021. Here is how the penalty will be calculated:
Step 1: Determine the number of months late
May is two months after March, so the property owner is two months late in paying the taxes.
Step 2: Calculate the penalty
- 3% penalty on the unpaid balance of $2,000 on April 1st= $60
- 1.5% penalty ($30) for the first month of late payment (April)
- 1.5% penalty ($30) for the second month of late payment (May)
Total penalty = $60 + $30 + $30 = $120
Step 3: Add the penalty to the unpaid tax balance
The total amount due is now $2,120 ($2,000 in taxes plus $120 in penalties).
In summary, property owners in Levy County should make sure to pay their property taxes on time to avoid penalties and additional interest charges. The penalty for late payment of property taxes is calculated as a percentage of the unpaid taxes, with an additional 1.5% penalty added each month after April 1st.
We recommend contacting the Levy County Tax Office or a local tax professional for the most up-to-date and accurate information.