ZIP Code 32401

In ZIP code 32401, which covers Panama City, homes carry a median value of $230,500 while the county-level effective property tax rate sits at 0.58%. That combination yields an annual tax bill well below what many Florida homeowners pay. Households here earn a median of $52,523, and per-capita income reaches $37,460, so property taxes take a smaller share of earnings than in higher-rate markets. Sales tax adds 7.00% on purchases. The gap between income and home prices shapes how far a paycheck stretches toward ownership in this part of Panama City.