32908 Property Tax Rate

Property owners in ZIP code 32908 (Palm Bay, Florida) pay a median of $1,723/year in property taxes on homes valued at $265,500. This translates to an effective tax rate of 0.65%, which is 15% below the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 32908 is approximately $144, which factors into escrow payments on mortgages. This ZIP code is located within Brevard County. This is $922 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 32908 has higher property taxes. ZIP codes with similar effective rates include 33782 (0.65%) and 33559 (0.65%).

In Palm Bay, property taxes represent approximately 2.6% of the median household income of $66,589, providing context for the relative tax burden on homeowners in this area.

Under Florida's Save Our Homes Act, your homestead property's assessed value is capped at 3% annual increases, but resets to market value upon sale—your tax bill will be based on the purchase price. Brevard County offers a $25,000 homestead exemption plus an additional $25,000 exemption for non-school taxes; submit your exemption application to the Brevard County Property Appraiser within 30 days of closing. Verify your homestead status by reviewing your property record card on brevardpa.gov or calling the assessor's office at (321) 633-2000.