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Thursday, November 7, 2024

Analysis: Hillsborough County effective property tax rate were lighter than the national average in Q1 2023

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Property owners in Hillsborough County paid 0.6% of the value of their homes in property taxes in the first quarter of 2023, which is less than 0.6 times the national average, according to the real estate analysis posted by the Tampa Republic.

The median sales price of a Hillsborough County home in the first quarter of 2023 was $345,000, based on data from the 3,253 properties sold during that time. In 2018 the median tax bill for the county was $2,149, which is 0.6% of the median value of the homes that were taxed.

This is 0.6 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Hillsborough County real estate data showed homeowners in Fish Hawk and Westchase paid the highest rates.

The following table compares Fish Hawk with some other cities belonging to Hillsborough County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2023.

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Fish Hawk36$420,000$6,1661.5%
Westchase69$470,000$5,3191.1%
Riverview156$335,500$3,2451%
Ruskin60$328,500$3,3771%
Progress Village21$250,000$2,4391%
Keystone64$640,000$5,7350.9%
Pebble Creek13$448,000$4,1510.9%
Cheval20$561,250$5,1760.9%
Lutz48$360,000$3,2130.9%
Valrico73$400,000$3,3900.8%
Gibsonton36$322,500$2,6530.8%
Lake Magdalene27$240,000$2,0360.8%
Bloomingdale49$405,000$3,2790.8%
Greater Carrollwood87$349,500$2,7520.8%
Lithia 5$338,000$2,5270.7%
Mango14$246,250$1,6130.7%
Wimauma15$453,500$3,0930.7%
Brandon305$330,000$2,1900.7%
Palm River-Clair Mel40$256,500$1,7110.7%
Apollo Beach68$610,000$4,5670.7%
Greater Northdale38$407,500$2,8170.7%
Tampa1,249$351,000$2,4900.7%
Greater Sun Center153$282,000$1,9020.7%
Temple Terrace52$279,500$1,9840.7%
Boyette12$421,000$3,1370.7%
Citrus Park49$385,000$2,8430.7%
Plant City107$305,000$1,7380.6%
Seffner22$382,500$2,4500.6%
Town 'n' Country164$350,000$2,1790.6%
Thonotosassa13$499,000$2,5410.5%
Dover11$435,000$2,2910.5%
Egypt Lake-Leto78$291,000$1,3590.5%
East Lake-Orient Park25$215,000$1,0790.5%
University8$235,000$1,0260.4%

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