Data Analysis
The median Walton County house for sale showed a $6,325 property tax bill on November 5, 2026, and the median Okaloosa house $3,043, both well below what each county's average rate implies at the asking price.
644 of 1,681 Emerald Coast house listings showed a seller's tax bill under half the full-value figure at the asking price.
On November 5, 2026, the median single-family house for sale in Walton County asked $1,195,000 and showed a 2025 property tax bill of $6,325, or 0.58 percent of price. At the county's average rate of about 9.76 mills, a bill at that price would be about $11,660 before exemptions. In Okaloosa County the median house asked $435,000 and showed $3,043, or 0.73 percent, against about $5,610 at 12.89 mills. Across both counties, 644 of 1,681 houses with a 2025 or 2026 tax line, 38 percent, showed a bill below half of the full-value figure. All MLS figures are ours, computed from Emerald Coast MLS records.
The 2026 bills went out November 1, and on November 3 voters approved Amendment 3, which raises the non-school homestead exemption starting in 2027. A buyer's bill is set on a new assessment near the purchase price, so the seller's number on a listing is a weak guide. Recent Destin-area coverage includes townhomes, homes under $400,000 and condo association fees. Monthly figures are on the Destin market data hub.
Why does a Destin-area listing understate a buyer's tax bill?
Under Florida's Save Our Homes rule, a homesteaded property's assessed value can rise no more than 3 percent a year or the inflation rate, whichever is lower. Section 193.155 of the Florida Statutes resets the assessment to just value on the January 1 after a change of ownership. The seller's bill reflects years of capped growth; the buyer's first full bill does not.
Our Okaloosa and Walton property tax calculators use about 12.89 and 9.76 mills for 2025-26, Florida TaxWatch county averages. The homestead exemption guides for Okaloosa and Walton value today's exemption at about $509 and $385 a year.
How big is the gap for each type of home?
| Type (active, with a 2025 or 2026 tax line) | Okaloosa listings | Okaloosa median ask | Okaloosa median bill | Walton listings | Walton median ask | Walton median bill |
|---|---|---|---|---|---|---|
| Single-family houses | 642 | $435,000 | $3,043 | 1,039 | $1,195,000 | $6,325 |
| Condos | 397 | $435,000 | $4,197 | 424 | $550,000 | $3,859 |
| Townhomes | 101 | $299,900 | $2,598 | 117 | $705,000 | $4,184 |
Source: Momentum Research, computed from Emerald Coast MLS records, Okaloosa and Walton active listings, snapshot November 5, 2026. Listed tax bill is the seller's annual amount as reported on the listing. Deemed reliable but not guaranteed.
Houses showed the widest gap: 40 percent of Okaloosa houses and 38 percent of Walton houses had a bill under half the full-value figure. For condos it was 9 percent in Okaloosa and 11 percent in Walton, since many condos are second homes or rentals that never had a homestead cap. Okaloosa condos showed a bill of 0.95 percent of price, higher than Okaloosa houses at 0.73 percent. Condo buyers also budget association fees, listed by community on our Okaloosa and Walton HOA fee pages.
Which cities show the biggest gap?
| City (single-family) | Active with tax line | In contract | Median asking price | Median listed tax bill | Bill as share of price | Under half |
|---|---|---|---|---|---|---|
| Santa Rosa Beach | 432 | 89 | $1,495,000 | $7,729 | 0.59% | 34% |
| Crestview | 218 | 125 | $329,900 | $2,441 | 0.75% | 36% |
| Inlet Beach | 161 | 26 | $2,149,000 | $10,617 | 0.60% | 34% |
| Miramar Beach | 151 | 28 | $1,299,000 | $7,391 | 0.59% | 27% |
| Destin | 144 | 23 | $1,234,500 | $9,551 | 0.77% | 35% |
| Freeport | 141 | 103 | $489,850 | $3,272 | 0.59% | 44% |
| Fort Walton Beach | 111 | 39 | $420,000 | $3,037 | 0.82% | 40% |
| DeFuniak Springs | 97 | 43 | $275,000 | $944 | 0.30% | 62% |
| Niceville | 89 | 53 | $555,000 | $3,292 | 0.66% | 46% |
Source: Momentum Research, Emerald Coast MLS records, snapshot November 5, 2026. City follows the listing address. In contract counts pending houses. Deemed reliable but not guaranteed.
DeFuniak Springs stood out, with a median listed bill of $944 on a $275,000 asking price and 62 percent of houses under half the full-value figure. New houses still taxed as lots can pull that figure down. Destin itself showed the highest share of price among the coastal cities, 0.77 percent, because Destin sits in Okaloosa, the higher-rate county.
Does the gap change with price?
| House asking price | Okaloosa active | Okaloosa in contract | Okaloosa under half | Walton active | Walton in contract | Walton under half |
|---|---|---|---|---|---|---|
| Under $400,000 | 443 | 168 | 33% | 245 | 79 | 52% |
| $400,000 to $599,999 | 196 | 82 | 47% | 228 | 60 | 41% |
| $600,000 to $999,999 | 129 | 29 | 46% | 274 | 63 | 29% |
| $1 million to $1,999,999 | 97 | 16 | 35% | 354 | 67 | 26% |
| $2 million and up | 66 | 1 | 54% | 428 | 67 | 44% |
Source: Momentum Research, Emerald Coast MLS records, snapshot November 5, 2026. Under half uses listings with a 2025 or 2026 tax line. Deemed reliable but not guaranteed.
Walton's cheapest houses showed the biggest share of low bills, 52 percent under $400,000, where much of the supply is new construction in the north county. In Okaloosa, one of 66 houses at $2 million and up was in contract. Of the 555 houses built in 2020 or later with a tax line, half showed a bill under half the full-value figure, with a median of 0.50 percent of price.
What does Amendment 3 change for a Destin-area buyer?
Amendment 3 raises the homestead exemption from non-school taxes from $50,000 to $150,000 on January 1, 2027, and to $250,000 in 2028. School taxes keep the $25,000 exemption. Using our calculators' estimated school and non-school split and holding rates unchanged, a homesteaded buyer at Okaloosa's $435,000 median house price would owe about $5,100 on 2026 rules, $4,350 on 2027 rules and $3,600 on 2028 rules. At Walton's $1,195,000 median the figures are about $11,280, $10,710 and $10,140. Second homes, which make up much of the coastal market, get no homestead exemption, though their yearly non-school assessment cap drops from 10 percent to 5 percent. Buyers who become Florida residents after December 31, 2026 wait five years for the larger exemption. See our Amendment 3 passed guide and Amendment 3 calculator.
What does this mean for buyers and sellers?
For buyers, budget taxes from the price you expect to pay and the county the home sits in, since Okaloosa's rate is about a third higher than Walton's. Our Florida property tax calculator handles the math. For sellers, a buyer's lender escrows taxes on the new assessment, so your own bill understates the next owner's monthly cost. Monthly pace is in our Emerald Coast Market Pulse.
People also ask
What is the property tax rate in Walton County compared with Okaloosa?
Walton's 2025-26 county average is about 9.76 mills and Okaloosa's about 12.89 mills, based on the Florida TaxWatch figures in our calculators. City and special district levies vary.
Why are property taxes on Destin-area listings so low?
Many sellers have owned for years under the Save Our Homes cap, and new houses are often still taxed as lots. On November 5, 2026, 38 percent of Okaloosa and Walton house listings showed a bill under half the full-value figure.
How much are taxes on a $435,000 house in Okaloosa County?
At the county average rate, about $5,610 a year before exemptions, or about $5,100 with today's homestead exemption. The median listing at that price showed $3,043.
Limitations
Only 2,799 of 4,029 active Okaloosa and Walton listings carried a 2025 or 2026 tax amount; many new homes have none and are excluded, as are listings under $50,000 and amounts above 6 percent of price. The full-value estimate uses one county average rate per county, and the school and non-school split behind the Amendment 3 figures is our estimate. Non-ad valorem assessments, city levies and special districts are not included. Amendment 3 results are unofficial until certified. This is a live snapshot of Emerald Coast MLS records. Nothing here is tax or legal advice; each county's property appraiser and tax collector set actual bills.
Sources
- Momentum Research, computed from Emerald Coast MLS records, Okaloosa and Walton active and pending listings, snapshot November 5, 2026. Information is deemed reliable but is not guaranteed by the MLS to be accurate.
- Florida Statutes, section 193.155 (homestead assessment limit and change of ownership).
- Florida TaxWatch 2025 county average millage, as used in our Okaloosa and Walton property tax calculators.
- Amendment 3 (CS/HJR 1F) terms and unofficial result, as summarized in our Amendment 3 passed guide.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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