Q: When are property taxes due for the current fiscal year?
A: Property taxes for FY 2024-2025 are due by February 1, 2025. Taxes become delinquent on February 2nd and immediately begin accruing penalties and interest.
Q: What tax credits are available and do they require application?
A: The primary tax benefit is the $100,000 homestead exemption for school district taxes, which REQUIRES APPLICATION. Additional exemptions may be available for residents over 65, disabled veterans, and disabled persons. All exemptions must be applied for through the Martin County Appraisal District and are NOT automatic.
Q: How does the homestead exemption work?
A: The homestead exemption provides two benefits: a $100,000 reduction in taxable value for school taxes, and a 10% annual cap on assessed value increases. You must file an application with the Martin County Appraisal District, and it applies only to your primary residence, not rental or investment properties.
Q: When are properties assessed and can I appeal?
A: Properties are assessed annually as of January 1st. Property owners typically receive notices of appraised value in April or May and have until May 31st to file a protest with the Martin County Appraisal Review Board if they disagree with the assessed value.
Q: What are the penalties for late payment?
A: Taxes paid in February incur a 6% penalty, March adds 7%, April through June adds 8%, and July and later adds 12%. Additionally, interest accrues at 1% per month on the unpaid balance.
Q: Can I pay property taxes online?
A: Yes, Martin County typically offers online payment options through their official website. Contact the Martin County Tax Collector's office for current online payment procedures and any associated convenience fees.
Q: Why do tax rates vary within Martin County?
A: Different areas of Martin County are served by different combinations of taxing entities, including various school districts, municipal utility districts, hospital districts, and other special purpose districts. Your total tax rate is the sum of all taxing entities that serve your specific property location.
Q: What if I disagree with special district taxes on my bill?
A: Special district taxes are set by independent taxing entities and cannot be appealed through the county. Contact the specific district directly if you have questions about their tax rate or the services provided. The Martin County Appraisal District can provide contact information for all taxing entities.