Hobson City, Alabama Property Taxes
The median property tax rate in Hobson City, AL is 0.45%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hobson City, the typical annual property tax bill reaches $287, significantly below the national median of $2,690. Property taxes in Hobson City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hobson City'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 Hobson City 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
Hobson City, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$207
Ownwell’s Hobson City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobson City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobson City 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 Hobson City, Alabama
Property taxes in Hobson City, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobson City is 0.45%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Hobson City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobson City 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 Hobson City's effective property tax rate to other areas in Calhoun County and the national median. For comparison, the 36201 zip code has the highest median property tax rate of 0.90%, while the 36203 zip code has the lowest median tax rate of 0.45%. Understanding how these cities compare with Hobson City provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobson City Tax Rate
0.45%
Average Calhoun County Tax Rate
0.44%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobson City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36201 | 0.32% | 0.41% | 0.90% | 0.90% | 0.90% |
| 36203 | 0.43% | 0.43% | 0.45% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Hobson City, Alabama
In Hobson City, 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 Calhoun 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 Hobson City, 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 Hobson City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $928 in zip code 36203, while the lowest is $251 in zip code 36201.
Average Hobson City Assessed Value
$46,040
Average Calhoun County Assessed Value
$121,640
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobson City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36201 | $12,940 | $25,760 | $40,080 | $79,960 | $131,780 |
| 36203 | $23,540 | $54,870 | $201,640 | $295,650 | $358,576 |
Source: Ownwell
Property Tax Bills Across Hobson City, Alabama
In Hobson City, 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 Hobson City is $46,040. Property taxes are determined by multiplying the assessed value by the local tax rate set by Calhoun County. For example, the tax bill for the 25th percentile is $144, while it increases to $590 for the 75th percentile, and reaches $1,199 for the 90th percentile. These variations illustrate how the assessed value and tax rate influence the final tax bill. Homeowners in Hobson City should be aware that their tax bills can vary significantly depending on their home's assessed value and the specific tax rate applied. The highest median tax bill in the area is $928 in the 36203 zip code, while the lowest is $251 in the 36201 zip code. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Hobson City Tax Bill
$287
Average Calhoun County Tax Bill
$571
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobson City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36201 | $67 | $136 | $251 | $457 | $938 |
| 36203 | $151 | $317 | $928 | $1,279 | $1,605 |
Source: Ownwell