34221 Property Tax Rate

Property owners in ZIP code 34221 (Palmetto, Florida) pay a median of $2,150/year in property taxes on homes valued at $298,200. This translates to an effective tax rate of 0.72%, which is 6% below the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 34221 is approximately $179, which factors into escrow payments on mortgages. This ZIP code is located within Manatee County. This is $495 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 34221 has lower property taxes. ZIP codes with similar effective rates include 34711 (0.72%) and 33774 (0.72%).

In Palmetto, property taxes represent approximately 2.9% of the median household income of $74,314, providing context for the relative tax burden on homeowners in this area.

Under Florida's Save Our Homes Act, your property assessment is capped at 3% annual growth once homestead is filed, but the full market value reassessment occurs at sale. Manatee County provides a $25,000 homestead exemption plus an additional $25,000 exemption on non-school taxes — register with the Manatee County Property Appraiser by March 1 following purchase to lock in the 3% cap. Contact the Manatee County Property Appraiser's office before your first tax bill to ensure homestead exemption is applied and your base year value is correctly recorded.