Walton County Property Tax Rates
The table below lists the property tax rates in Walton County, expressed as the rate per $100 of assessed value:
| Tax | Rate per $100 of assessed value |
|---|---|
| County | $0.89 |
| School District | $1.20 |
| Municipalities | Varies by location |
| Special Assessment | Varies by property |
Please note that the municipal tax rates vary depending on the specific location within Walton County. Additionally, some properties may be subject to special assessments, which are determined on a case-by-case basis. As a tax advisor, it is important to keep these factors in mind when advising clients on property tax matters in Walton County.
Who sets property tax rates in Walton County ?
Who sets property tax rates in Walton County?
The Walton County Board of Commissioners sets property tax rates in Walton County.
When are property tax rates set in Walton County?
Property tax rates in Walton County are set annually during the board's budget process, typically in the months of July and August. Once the rates are set, they are implemented for the upcoming fiscal year, which begins on October 1st.
How are property tax rates determined in Walton County?
The property tax rates in Walton County are determined based on several factors, including the budgetary needs of the county, the value of the property being taxed, and any exemptions or special assessments that may apply. The rates are set in accordance with applicable state laws and regulations, and are designed to generate sufficient revenue to fund essential services and programs provided by the county.
Example of Walton County Property Tax Calculation
If you are a 10-year-old and want to understand how property tax is calculated in Walton County, here is an example that is easy to read and understand.
First, let's assume that the assessed value of the property is $100,000. The county's tax rate is 2%, which means that the property owner will have to pay 2% of the assessed value as property tax.
To calculate the property tax, the property owner needs to multiply the assessed value by the tax rate. In this case, the property tax would be $2,000 (i.e. $100,000 x 2%).
It's important to note that property taxes are used to fund various public services such as schools, roads, and public safety. The exact amount of property tax varies depending on the assessed value of the property and the tax rate set by the local government.
In summary, the property tax in Walton County is calculated by multiplying the assessed value of the property by the tax rate of 2%. The resulting amount is what the property owner will owe in property taxes for the year.
If you want appeal your property tax assessment - contact your local tax assessor.
When is Walton County Property Tax due ?
Walton County Property Tax is typically due on April 1st of each year. However, taxpayers have until April 30th to pay without any penalties. The payment methods accepted by the county include:
| Payment Method | Details |
|---|---|
| Online | Walton County offers an online payment system where taxpayers can pay their property taxes using their credit card or eCheck. |
| Taxpayers can send their payment via mail to the address listed on their tax bill. The county accepts personal checks, money orders, and cashier’s checks. | |
| In-Person | Taxpayers can also pay their property taxes in person at the Walton County Tax Collector’s Office. The office is located at 76 North 6th Street, DeFuniak Springs, FL 32433. |
It is important to note that if taxes remain unpaid after April 30th, a penalty will be added to the total amount due. Additionally, if property taxes are not paid by June 1st, a tax certificate will be sold on the property. Therefore, it is recommended that taxpayers make their payment by the April 30th deadline to avoid any penalties or additional fees.
If you have more questions - contact your local tax collector.
Homestead exemptions in Walton County ?
To help homeowners in Walton County, Florida understand their Homestead exemptions and deductions, the following table includes all county-specific information:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Primary residence owners | Up to $50,000 | Must own and occupy the property as their primary residence on January 1 of the tax year |
| Additional Homestead Exemption | Primary residence owners age 65 and older or totally and permanently disabled | Up to $50,000 | Must meet the same requirements as the Homestead Exemption and provide proof of age or disability |
| Disabled Veteran Exemption | Honorably discharged veterans with a service-connected disability rating of at least 10% | Up to $5,000 | Must provide proof of eligibility from the Department of Veterans Affairs |
| Deployed Military Exemption | Active-duty military personnel deployed outside of the United States in the previous calendar year | Up to $1,000 | Must provide proof of deployment and own the property on January 1 of the tax year |
| Widow/Widower Exemption | Surviving spouse of a veteran who died from service-connected causes or surviving spouse of a first responder who died in the line of duty | Up to $5,000 | Must provide proof of eligibility |
| Agricultural Classification | Property owners using their land for bona fide agricultural purposes | Varies based on use | Must meet certain criteria and file an application with the Property Appraiser's office |
It's important to note that these exemptions and deductions may change from year to year and have specific eligibility requirements. Homeowners in Walton County should consult with the Property Appraiser's office or a tax professional for more information and to ensure they are receiving all applicable exemptions and deductions.
How is Walton County Property Tax penalty calculated ?
Walton County Property Tax Penalty Calculation
When property taxes are not paid on time, a penalty is imposed by the Walton County Tax Commissioner's Office. The penalty is calculated by applying a percentage rate to the unpaid taxes.
The penalty rate for Walton County is 1% per month, or a portion thereof, of the unpaid taxes. This means that if the taxes are not paid by the due date, the penalty will begin accruing on the first day following the due date and will continue until the taxes are paid in full.
To better understand how the penalty is calculated, let's take an example:
- A property owner in Walton County fails to pay their property taxes by the due date of December 31.
- The total amount due is $2,500.
- On January 1, the penalty of 1% is applied to the unpaid taxes, resulting in a penalty of $25 ($2,500 x 1%).
- If the taxes remain unpaid in February, an additional penalty of $25 is assessed, bringing the total to $50 ($2,500 x 1% x 2).
- This penalty will continue to increase each month until the taxes are paid in full, subject to a maximum penalty of 20% of the unpaid taxes.
It is important for property owners in Walton County to pay their property taxes on time to avoid penalties and additional fees. The Tax Commissioner's Office provides several payment options, including online payments and payments by mail or in person at the office.
| Penalty Rate | 1% per month or portion thereof |
|---|---|
| Maximum Penalty | 20% of unpaid taxes |
Property owners should contact the Tax Commissioner's Office if they have questions about their property taxes or need assistance in making a payment.
We recommend contacting the Walton County Tax Office or a local tax professional for the most up-to-date and accurate information.