32702 Property Tax Rate

Property owners in ZIP code 32702 (Altoona, Florida) pay a median of $901/year in property taxes on homes valued at $92,700. This translates to an effective tax rate of 0.97%, which is 27% above the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 32702 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Lake County. This is $1,744 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 32702 has higher property taxes. ZIP codes with similar effective rates include 33065 (0.97%) and 32361 (0.97%).

In Altoona, property taxes represent approximately 1.7% of the median household income of $51,762, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 32702, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Lake County's tax assessor directly.