St Petersburg Property Taxes are a topic of conversation for most of our buyer clients. As experienced realtors in St. Petersburg, Florida, we are frequently asked about property taxes by potential buyers. It is a crucial factor to consider when purchasing a property, and it’s essential to estimate your future tax liability accurately. Furthermore, many realtors suggest that a good rule of thumb for estimating property taxes in St Petersburg, Florida, is 1.0%-1.5% of the property’s value.
But is this rule of thumb accurate?
St Petersburg Property Taxes: Tools
We’re happy to report that Pinellas County Property Appraiser’s Office provides a useful tool to help you estimate property taxes accurately. Moreover, If you’re thinking of purchasing a property in Pinellas County, we recommend you check out this tool. It is worth noting that the Sarasota County Property Appraisers office does not provide an equivalent tool.
In fact, to test the validity of the 1.0%-1.5% rule of thumb, we conducted a quick study. We analyzed a sample of 1,295 homesteaded and non-homesteaded properties sold in January 2018 in Pinellas County, ranging in price from $107,000 to $3,850,000. And, we compared the sales prices to their most recent tax bills and averaged the tax liability as a percentage of their sales price.
Our findings showed that the average tax liability was 1.31%. Based on this sample, we can confirm that the 1.0%-1.5% rule of thumb for estimating property taxes in St. Petersburg, Florida, still holds true.
St Petersburg Property Taxes: Examples
We also broke down our findings by price range to give you a more precise estimate. As expected, the tax liability percentage decreased as the sales price increased. And, it’s essential to keep this in mind when estimating your property taxes, especially if you’re considering purchasing a high-end property.
Sales Price Avg Property Taxes/Sales Price Average Property Taxes
$100,000 – $199,999 1.35% $2,026
$200,000 – $299,999 1.33% $3,244
$300,000 – $399,999 1.28% $4,368
$400,000 – $499,999 1.29% $5,765
$500,000 – $599,999 1.25% $6,839
$600,000 – $699,999 1.24% $7,896
$700,000 – $799,999 1.20% $8,841
$800,000 – $899,999 1.53% $12,808
$900,000 – $999,999 1.42% $12,485
$1m – $2m 1.18% $15,895
$2m-$3m .99% $23,088
$3m-$4m .54% $19,452
Additionally, the 1.0%-1.5% rule of thumb is a broadly accurate guide based on experience and practice, rather than theory. We encourage you to conduct your research and consult with a professional when estimating your property taxes. However, we hope our findings have been helpful in guiding you towards a better understanding of property taxes in St Petersburg, Florida.
St Petersburg Property Taxes: Conclusion
At Avalon Group Realtors, we’re committed to providing our clients with the most up-to-date and accurate information to help them make informed decisions. Finally, if you’re thinking of purchasing a property in St Petersburg, Florida, or have any questions regarding property taxes, please don’t hesitate to contact us. We’re always here to help.
