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Saturday, November 23, 2024

Analysis: Palm Beach County effective property tax rate were lighter than the national average in Q1 2022

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

The median sales price of a Palm Beach County home in the first quarter of 2022 was $350,000, based on data from the 9,653 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 Manalapan, Canal Point (unincorporated), and Gulf Stream paid the highest rates.

The following table compares Manalapan 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 first quarter of 2022.

CityQ1 2022 SalesQ1 2022 Median PriceMedian tax 2022Effective tax rate
Manalapan5$1,575,000$41,9462.7%
Canal Point (unincorporated)3$65,000$1,2261.9%
Gulf Stream4$1,200,000$19,7771.6%
West Delray2$485,000$7,1781.5%
Tequesta55$447,500$4,8521.1%
Highland Beach74$678,000$7,3551.1%
Palm Beach Gardens347$427,900$4,8381.1%
Palm Beach Shores6$582,500$6,4101.1%
West Boynton12$110,000$1,1921.1%
Uninc-33413/West Palm Beach Canal3$362,500$3,9611.1%
South Palm Beach50$402,500$4,1671%
Lantana76$283,814$2,7791%
Wellington270$553,250$5,5941%
North Palm Beach135$400,000$3,8521%
Atlantis27$565,000$5,5361%
Uninc-33409/West Palm Beach South1$160,000$1,6311%
Royal Palm Beach (unincorporated)146$272,500$2,7521%
South Bay9$125,000$1,0910.9%
Ocean Ridge22$1,200,000$10,9030.9%
Juno Beach33$620,000$5,5960.9%
West Palm Beach775$349,900$3,1700.9%
Jupiter382$517,500$4,6970.9%
Palm Beach123$1,547,600$14,0870.9%
Palm Springs108$199,267$1,7310.9%
Boca Raton682$601,000$5,2380.9%
Loxahatchee Groves17$560,000$5,2310.9%
Lake Worth816$325,000$2,9300.9%
Riviera Beach277$319,000$2,8110.9%
Boynton Beach568$258,250$2,4430.9%
Boca Del Mar CDP130$385,000$3,5410.9%
Lake Worth Corridor CDP30$285,000$2,5070.9%
West Boca17$151,000$1,2870.9%
West Palm Beach (unincorporated)660$169,500$1,4450.9%
Boynton Beach (unincorporated)701$365,000$3,2160.9%
Boca Raton (unincorporated)706$385,000$3,4060.9%
Delray Beach (unincorporated)730$205,000$1,7980.9%
Lake Clarke Shores19$480,000$4,0560.8%
Lake Park39$325,000$2,6810.8%
Hypoluxo48$322,000$2,6670.8%
Haverhill11$390,000$3,1990.8%
Delray Beach529$385,000$3,0240.8%
Royal Palm Beach207$350,000$2,8190.8%
Greenacres255$240,000$1,9240.8%
Sandalfoot Cove CDP114$287,450$2,2140.8%
Loxahatchee (unincorporated)97$515,000$4,2000.8%
Palm Beach Gardens (unincorporated)87$640,000$5,1660.8%
Jupiter (unincorporated)72$657,625$5,1250.8%
Pahokee12$142,000$9360.7%
Golf2$2,650,000$15,3740.6%
Belle Glade23$230,000$1,3680.6%
Belle Glade (unincorporated)2$315,000$1,5640.5%
Tequesta (unincorporated)26$998,500$5,3620.5%
Uninc-33415/Haverhill3$330,000$1,5280.5%
Mangonia Park5$305,000$1,1350.4%
North Palm Beach (unincorporated)17$3,000,000$8,8250.3%

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