Taxes in Palm Bay, Florida
Complete tax guide for Palm Bay, FL. No state income tax, 0.86% property tax, 6.67% sales tax. Calculate your total tax burden.
State Income Tax
None
Florida
Property Tax
0.86%
Effective rate
Sales Tax
6.67%
Combined rate
Tax Burden
Low
Palm Bay, FL Tax Overview
No state income tax; higher property taxes and sales tax offset
Population
120,568
Median Income
$48,000
Cost of Living
95.8 (100 = avg)
State Income Tax
None
Median Home Price
$285,000
Palm Bay Tax Calculator
Pre-filled with Palm Bay median: $48,000
Total Tax Burden in Palm Bay
$7,394
Take-Home: $40,607 · Effective Rate: 15.40%
Federal Tax
$3,722
7.75% eff.
FL State
$0
0.00% eff.
FICA
$3,672
7.65% eff.
Take-Home
$40,607
84.60% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $48,000.00 | $4,000.00 |
| Federal Income Tax | -$3,721.50 | -$310.13 |
| Florida State Tax | $0.00 | $0.00 |
| Social Security (6.2%) | -$2,976.00 | -$248.00 |
| Medicare (1.45%) | -$696.00 | -$58.00 |
| Take-Home Pay | $40,606.50 | $3,383.88 |
Property Tax in Palm Bay
Median Home
$285,000
Annual Tax
$2,451
Monthly Tax
$204
Effective Rate
0.86%
Sales Tax in Palm Bay
Combined Rate
6.67%
State Portion
~4.2%
Local Portion
~2.5%
The combined sales tax rate in Palm Bay is 6.67%, which is below the national average of 7.12%. On a $100 purchase, you would pay $6.67 in sales tax.
Tax Burden Comparison
| Tax Type | Palm Bay | Florida Avg | National Avg |
|---|---|---|---|
| Income Tax | None | None | 4.6% |
| Property Tax | 0.86% | ~0.86% | 1.1% |
| Sales Tax | 6.67% | ~6.67% | 7.12% |
| Overall Burden | Low | — | Moderate |
Tax Saving Tips for Palm Bay Residents
- Florida has no state income tax, meaning your income is only subject to federal taxes and FICA. Consider investing your tax savings into a Roth IRA for tax-free growth.
- Property tax in Palm Bay (0.86%) is below the national average of 1.1%. This makes homeownership more affordable here relative to property tax burden.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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Very LowCalculate Your Full Florida Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Palm Bay, FL?
Palm Bay, Florida has no state income tax. The property tax rate is 0.86% and the combined sales tax rate is 6.67%. No state income tax; higher property taxes and sales tax offset
How much is property tax in Palm Bay?
The effective property tax rate in Palm Bay is 0.86%. On the median home price of $285,000, this equals approximately $2,451 per year or $204 per month. This is below the national average of 1.1%.
What is the sales tax rate in Palm Bay?
The combined sales tax rate in Palm Bay is 6.67%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Palm Bay's tax burden compare to other cities?
Palm Bay has a low overall tax burden. The effective total tax rate for a median-income household is approximately 22.3%. The absence of state income tax significantly reduces the overall burden. Cost of living index is 95.8 (100 = national average).
Are there any local taxes in Palm Bay?
Palm Bay does not impose a separate local or city income tax. Residents pay no state income tax, federal income tax, and FICA (Social Security and Medicare). No state income tax; higher property taxes and sales tax offset