34990 Property Tax Rate

Property owners in ZIP code 34990 (Palm City, Florida) pay a median of $4,613/year in property taxes on homes valued at $558,300. This translates to an effective tax rate of 0.83%, which is 8% above the Florida state average of 0.76%.

The monthly property tax burden for a median-valued home in 34990 is approximately $384, which factors into escrow payments on mortgages. This ZIP code is located within Martin County. This is $1,968 more than the Florida average of $2,645/year.

Compared to similar ZIP codes in Florida, 34990 has lower property taxes. ZIP codes with similar effective rates include 33467 (0.83%) and 33133 (0.83%).

In Palm City, property taxes represent approximately 3.8% of the median household income of $120,407, 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% annually, but resets to market value upon sale—Martin County's high effective rate (1.51%) makes this reassessment particularly expensive. Martin County offers a $25,000 homestead exemption plus an additional $25,000 exemption for non-school taxes; file with the Martin County Property Appraiser within 30 days of purchase to minimize the impact of reassessment. Contact the Property Appraiser at (772) 221-8000 or visit martin.fl.us/propertytax to confirm your homestead application was processed.