Green Pond, Alabama Property Taxes
The median property tax rate in Green Pond, AL is 0.18%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $94,200 in Green Pond, the typical annual property tax bill is $160, well below the national median of $2,690. Property taxes in Green Pond are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Green Pond's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Green Pond 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
Green Pond, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.18%
Estimate Property Tax Bill
$170
Ownwell’s Green Pond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Pond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Pond 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 Green Pond, Alabama
Property taxes in GREEN POND, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in GREEN POND is 0.18%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within GREEN POND set these rates annually, and they can vary significantly across different neighborhoods. Each year, GREEN POND 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 GREEN POND'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 0.33%, while the lowest is 0.14%. Understanding how these cities compare with GREEN POND provides valuable insights into the varying tax landscape across Bibb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Pond Tax Rate
0.18%
Average Bibb County Tax Rate
0.26%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35074 | 0.16% | 0.17% | 0.18% | 0.19% | 0.20% |
Source: Ownwell
Property Tax Assessment Values Across Green Pond, Alabama
In Green Pond, 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 Bibb 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. In Green Pond, 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. Being aware of these valuation processes in Green Pond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $94,200, with the median tax bill varying from $124 at the 25th percentile to $217 at the 90th percentile. The zip code 35074 has both the highest and lowest median tax bill at $160.
Average Green Pond Assessed Value
$94,200
Average Bibb County Assessed Value
$88,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35074 | $63,560 | $75,050 | $94,200 | $103,800 | $109,560 |
Source: Ownwell
Property Tax Bills Across Green Pond, Alabama
In Green Pond, located in Bibb County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Green Pond is $94,200. The property tax rate in this area is applied to the assessed value to determine the annual tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Green Pond experience a range of property tax bills. The 25th percentile tax bill is $124, while the 75th percentile is $196, and the 90th percentile reaches $217. These figures indicate the variability in tax burdens among residents. Compared to the national median property tax rate of 0.99%, Green Pond homeowners generally face lower property tax bills, which can be beneficial for those looking to manage their housing costs. This relatively low tax burden makes Green Pond an attractive option for many homeowners.
Average Green Pond Tax Bill
$160
Average Bibb County Tax Bill
$224
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35074 | $102 | $124 | $160 | $196 | $217 |
Source: Ownwell