Taxes are levied in Levy County by the taxing authorities empowered to do so by the State Legislature. The value of each real estate and tangible personal property is established by the County Property Appraiser. The Board of County Commissioners set the millage or rate of taxation for the county; the School Board for the schools; the city council for each municipality. The governing bodies of other independent special taxing districts and authorities set the millage rates for those areas.
Listed below are the 2021 millage rates for Levy County
| TAXING AUTHORITY | MILLAGE RATE |
| BD OF CO COMM | 9.0000 |
| SCHOOL-BASIC DISC | 0.7480 |
| SCHOOL – STATE | 3.6270 |
| SCHOOL – LOCAL | 1.5000 |
| CITY OF WILLISTON | 6.7500 |
| R/B LAKES MUN EST | 2.25000 |
| CITY OF FANNING SP | 3.00000 |
| TWN OF OTTER CREEK | 7.1028 |
| CITY OF CEDAR KEY | 4.7440 |
| TOWN OF INGLIS | 5.0000 |
| CITY OF CHIEFLAND | 7.9075 |
| TOWN OF BRONSON | 5.5815 |
| TOWN OF YANKEETOWN | 2.8119 |
| CEDAR KEY W/S DIS | 1.2000 |
| SRWMD | 0.3615 |
| SWFWMD | 0.2535 |