32407 Property Tax Rate
Panama City Beach, Florida · Part of Bay County
Effective Tax Rate
0.64%
2.3% below state avgMedian Annual Tax
$2,585
$215/mo escrow
Estimate Your Tax
Annual Tax
$2,585
Monthly
$215
Eff. Rate
0.64%
Buyer decision brief
What ZIP 32407 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$215/mo
Based on median annual tax paid
State context
0.12 percentage points below the Florida average
Florida average: 0.76%
Data confidence
High confidenceThe Census margin of error is $157, about 6% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Bay County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 32407 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$157 tax MOE, 6% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Bay County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 32407
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $403,500, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 0.64%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Florida and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $215 per month before insurance, HOA dues, or special assessments.
Assessor verification
Bay County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 32407 Compares
Median Annual Property Tax
ZIP 32407
0.64%
Effective rate
Florida Avg
0.76%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Florida
Lower than 79% of ZIP codes in Florida(21th percentile, 928 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 32407
Property owners in ZIP code 32407 (Panama City Beach, Florida) pay a median of $2,585/year in property taxes on homes valued at $403,500. 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 32407 is approximately $215, which factors into escrow payments on mortgages. This ZIP code is located within Bay County.
Compared to similar ZIP codes in Florida, 32407 has lower property taxes. ZIP codes with similar effective rates include 32714 (0.64%) and 32408 (0.64%).
In Panama City Beach, property taxes represent approximately 3.3% of the median household income of $79,052, providing context for the relative tax burden on homeowners in this area.
Under Florida's Save Our Homes Act, your homestead property's tax assessment is capped at 3% annual increase or the Consumer Price Index, whichever is lower—but this resets to market value when you purchase, potentially increasing your Bay County tax bill significantly. Bay County offers a $25,000 homestead exemption plus an additional $25,000 exemption for non-school taxes if you qualify—file your homestead application with the Bay County Property Appraiser within 30 days of closing to lock in these savings. Contact the Bay County Property Appraiser's office to confirm your homestead status and verify your assessed value on your first tax notice.
Frequently Asked Questions
What is the property tax rate in ZIP code 32407?
How much are property taxes in Panama City Beach, FL (32407)?
How does ZIP 32407 compare to the Florida average?
What is the median home value in ZIP 32407?
What county is ZIP code 32407 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$157. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 32407 is part of Bay County, Florida. View the full county profile for broader context and more data.
View Bay County on TaxByCounty →Explore Panama City Beach, FL
View all 2 ZIP codes in Panama City Beach with property tax comparisons.
View Panama City Beach Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 32407
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
32413
Panama City Beach, FL
0.09 percentage points lower than ZIP 32407.
Rate
0.55%
Tax
$2,129
Quality
96
32438
Fountain, FL
0.32 percentage points lower than ZIP 32407.
Rate
0.32%
Tax
$412
Quality
74
32466
Youngstown, FL
0.18 percentage points lower than ZIP 32407.
Rate
0.46%
Tax
$774
Quality
84
32404
Panama City, FL
0.08 percentage points lower than ZIP 32407.
Rate
0.56%
Tax
$1,342
Quality
101
32401
Panama City, FL
0.06 percentage points lower than ZIP 32407.
Rate
0.58%
Tax
$1,207
Quality
101
32405
Panama City, FL
0.05 percentage points lower than ZIP 32407.
Rate
0.59%
Tax
$1,513
Quality
101
32410
Mexico Beach, FL
0.05 percentage points lower than ZIP 32407.
Rate
0.59%
Tax
$2,156
Quality
84
32408
Panama City, FL
0.00 percentage points lower than ZIP 32407.
Rate
0.64%
Tax
$2,256
Quality
101
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.