Verbena, Alabama Property Taxes
The median property tax rate in Verbena, Alabama 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 Verbena at $116,000, the typical annual property tax bill is $318, well below the national median of $2,690. Property taxes in Verbena are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Verbena's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Verbena or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Verbena, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$313
Ownwell’s Verbena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verbena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verbena 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 Verbena, Alabama
Property taxes in Verbena, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verbena stands at 0.27%, which is significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Verbena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verbena 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 Verbena's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in 35203, with a rate of 0.66%, while 36579 has the lowest median tax rate of 0.21%. Understanding how these cities compare with Verbena 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 Verbena 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 Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | 0.20% | 0.24% | 0.27% | 0.28% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Verbena, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Verbena, Alabama. 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 in Verbena 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. Being aware of these valuation processes in Verbena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 36091 has both the highest and lowest median tax bill, standing at $318.
Average Verbena Assessed Value
$116,000
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 Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | $26,960 | $56,700 | $116,000 | $189,025 | $266,760 |
Source: Ownwell
Property Tax Bills Across Verbena, Alabama
Property tax bills in Verbena, located in Autauga County, Alabama, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Verbena is $116,000. To determine the tax bill, the assessed value is multiplied by the local tax rate. In Verbena, the median property tax bill is $318, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For example, homes in the 25th percentile have tax bills around $157, while those in the 75th percentile face bills closer to $490. At the 90th percentile, tax bills can reach up to $710, reflecting variations in property values and assessments. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Lower property taxes in Verbena can make homeownership more affordable compared to other regions with higher tax rates.
Average Verbena Tax Bill
$318
Average Autauga County Tax Bill
$598
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | $80 | $157 | $318 | $490 | $710 |
Source: Ownwell