Selma, Alabama Property Taxes
The median property tax rate in Selma, AL is 0.27%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Selma at $170,600, the typical annual property tax bill is $455, well below the national median of $2,690. Property taxes in Selma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. By understanding Selma's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Selma or another part of the city, gaining insight into the local property tax system will be beneficial.
Last Updated June 14, 2024
Selma, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Selma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Selma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Selma to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Selma, Alabama
Property taxes in Selma, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Selma is 0.27%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Selma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Selma estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Selma's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Selma provides valuable insights into the varying tax landscape across Autauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Selma Tax Rate
0.27%
Average Autauga County Tax Rate
0.29%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | 0.24% | 0.24% | 0.25% | 0.26% | 0.27% |
| 36703 | 0.20% | 0.25% | 0.27% | 0.27% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Selma, Alabama
In Selma, Alabama, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Autauga County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. With median home prices around $170,600, Selma's highest median tax bill is $579 in the 36701 zip code, while the lowest is $450 in the 36703 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Selma Assessed Value
$170,600
Average Autauga County Assessed Value
$189,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | $128,640 | $160,800 | $214,400 | $234,800 | $247,040 |
| 36703 | $36,780 | $94,350 | $166,000 | $295,850 | $406,780 |
Source: Ownwell
Property Tax Bills Across Selma, Alabama
Property tax bills in Selma, located in Autauga County, are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In Selma, the median home price is $170,600. Homeowners in the 25th percentile can expect to pay around $252 in property taxes, while those in the 75th percentile may pay approximately $751. For those in the 90th percentile, the tax bill can reach up to $1,141. The highest median tax bill in the area is $579, found in the 36701 zip code, whereas the lowest median tax bill is $450 in the 36703 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Selma's rates are relatively modest, making it an attractive location for homeowners seeking affordability.
Average Selma Tax Bill
$455
Average Autauga County Tax Bill
$598
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | $315 | $414 | $579 | $614 | $634 |
| 36703 | $92 | $253 | $450 | $784 | $1,142 |
Source: Ownwell