34972 Property Tax Rate

Property owners in ZIP code 34972 (Okeechobee, Florida) pay a median of $1,437/year in property taxes on homes valued at $193,300. This translates to an effective tax rate of 0.74%, which is near the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 34972 is approximately $120, which factors into escrow payments on mortgages. This ZIP code is located within Okeechobee County. This is $1,208 less than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 34972 has lower property taxes. ZIP codes with similar effective rates include 32424 (0.74%) and 32025 (0.74%).

In Okeechobee, property taxes represent approximately 2.7% of the median household income of $53,902, providing context for the relative tax burden on homeowners in this area.

Under Florida's Save Our Homes Act, your assessed value resets to market value at purchase but is then capped at 3% annual increases once homestead exemption is established. Okeechobee County offers a $25,000 homestead exemption plus an additional $25,000 exemption on non-school taxes — file with the Okeechobee County Property Appraiser by March 1 of the year following closing. Submit your homestead application to the Okeechobee County Property Appraiser before your first tax bill to secure the 3% annual growth cap.