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Saturday, November 2, 2024

Analysis: Palm Beach County effective property tax rate were lighter than the national average in Q2 2022

Realestate1

Property owners in Palm Beach County paid 0.8% of the value of their homes in property taxes in the second quarter of 2022, which is less than 0.7 times the national average, according to the real estate analysis posted by the North Palm Beach Today.

The median sales price of a Palm Beach County home in the second quarter of 2022 was $380,500, based on data from the 10,349 properties sold during that time. In 2018 the median tax bill for the county was $2,864, which is 0.8% of the median value of the homes that were taxed.

This is 0.7 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Palm Beach County real estate data showed homeowners in Canal Point (unincorporated), Uninc-33413/West Palm Beach Canal, and Manalapan paid the highest rates.

The following table compares Canal Point (unincorporated) with some other cities belonging to Palm Beach County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2022.

CityQ2 2022 SalesQ2 2022 Median PriceMedian tax 2022Effective tax rate
Canal Point (unincorporated)4$52,000$1,2262.4%
Uninc-33413/West Palm Beach Canal1$200,000$3,9612%
Manalapan7$3,000,000$41,9461.4%
Uninc-33409/West Palm Beach South1$125,000$1,6311.3%
Atlantis26$462,500$5,5361.2%
North Palm Beach (unincorporated)15$715,000$8,8251.2%
Palm Beach Shores13$560,000$6,4101.1%
Loxahatchee Groves15$505,000$5,2311%
North Palm Beach129$400,000$3,8521%
West Delray1$725,000$7,1781%
Palm Beach Gardens (unincorporated)92$527,500$5,1661%
South Palm Beach41$485,000$4,1670.9%
Palm Beach Gardens396$560,000$4,8380.9%
Pahokee16$105,900$9360.9%
Riviera Beach232$327,500$2,8110.9%
Boynton Beach613$280,000$2,4430.9%
West Palm Beach (unincorporated)732$165,000$1,4450.9%
Lake Park40$325,000$2,6810.8%
Lantana83$330,000$2,7790.8%
Jupiter Inlet Colony3$3,400,000$26,2680.8%
Highland Beach76$902,500$7,3550.8%
Ocean Ridge16$1,325,000$10,9030.8%
Hypoluxo70$345,000$2,6670.8%
Juno Beach56$695,500$5,5960.8%
West Palm Beach918$385,000$3,1700.8%
Jupiter457$565,000$4,6970.8%
Wellington298$662,500$5,5940.8%
Haverhill13$405,000$3,1990.8%
Boca Raton603$670,000$5,2380.8%
Lake Worth751$357,000$2,9300.8%
Delray Beach584$390,000$3,0240.8%
Greenacres290$250,000$1,9240.8%
Boca Del Mar CDP136$444,950$3,5410.8%
Lake Worth Corridor CDP50$330,000$2,5070.8%
Royal Palm Beach (unincorporated)126$327,500$2,7520.8%
Boynton Beach (unincorporated)777$405,000$3,2160.8%
Delray Beach (unincorporated)710$230,000$1,7980.8%
Lake Clarke Shores16$543,000$4,0560.7%
South Bay10$146,250$1,0910.7%
Palm Beach125$1,995,000$14,0870.7%
Palm Springs99$238,000$1,7310.7%
Royal Palm Beach197$385,000$2,8190.7%
Sandalfoot Cove CDP108$316,000$2,2140.7%
West Boynton17$170,000$1,1920.7%
Loxahatchee (unincorporated)93$582,500$4,2000.7%
Jupiter (unincorporated)79$704,000$5,1250.7%
Boca Raton (unincorporated)772$464,500$3,4060.7%
Tequesta47$765,000$4,8520.6%
Gulf Stream3$3,400,000$19,7770.6%
Belle Glade27$240,000$1,3680.6%
West Boca13$220,000$1,2870.6%
Tequesta (unincorporated)18$950,000$5,3620.6%
Golf2$3,212,500$15,3740.5%
Mangonia Park3$450,000$1,1350.3%

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