32066 Property Tax Rate

Property owners in ZIP code 32066 (Mayo, Florida) pay a median of $879/year in property taxes on homes valued at $137,100. This translates to an effective tax rate of 0.64%, which is 16% below the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 32066 is approximately $73, which factors into escrow payments on mortgages. This ZIP code is located within Lafayette County. This is $1,766 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 32066 has higher property taxes. ZIP codes with similar effective rates include 34239 (0.64%) and 32714 (0.64%).

In Mayo, property taxes represent approximately 1.4% of the median household income of $61,650, providing context for the relative tax burden on homeowners in this area.

Florida's Save Our Homes Act resets your property to current market value at purchase, but thereafter limits annual increases to 3% or CPI for homestead properties. Lafayette County's $25,000 homestead exemption (plus additional $25,000 for non-school taxes) is available to owner-occupants — file your exemption application with the Lafayette County Property Appraiser before the end of the year of purchase. Submit a Petition for Adjustment with the Lafayette County Property Appraiser if your assessed value at purchase exceeds the fair market value of comparable properties.