34498 Property Tax Rate

Property owners in ZIP code 34498 (Yankeetown, Florida) pay a median of $2,385/year in property taxes on homes valued at $307,800. This translates to an effective tax rate of 0.77%, which is near the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 34498 is approximately $199, which factors into escrow payments on mortgages. This ZIP code is located within Levy County. This is $260 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 34498 has lower property taxes. ZIP codes with similar effective rates include 34216 (0.78%) and 32310 (0.77%).

In Yankeetown, property taxes represent approximately 4.2% of the median household income of $56,875, 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—meaning your tax bill will jump to reflect the new purchase price. Levy County offers a $25,000 homestead exemption plus an additional $25,000 exemption for non-school taxes if you qualify; file with the Levy County Property Appraiser immediately after closing to lock in these savings. Contact the Levy County Property Appraiser's office to confirm your homestead status and verify your exemption was applied to your first tax bill.