Collinsville, Alabama Property Taxes
The median property tax rate in Collinsville, Alabama is 0.40%, which is significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Collinsville at $71,917, the typical annual property tax bill comes to $302, well below the national median of $2,690. Property taxes in Collinsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Collinsville'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 Collinsville 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
Collinsville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$288
Ownwell’s Collinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinsville 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 Collinsville, Alabama
Property taxes in Collinsville, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinsville is 0.40%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Collinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinsville 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 Collinsville's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35961 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Collinsville provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinsville Tax Rate
0.40%
Average Cherokee County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | 0.23% | 0.33% | 0.40% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Collinsville, Alabama
In Collinsville, 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 Cherokee 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 Collinsville, 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 Collinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 35961, with a median tax bill of $302.
Average Collinsville Assessed Value
$71,917
Average Cherokee County Assessed Value
$121,000
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | $17,786 | $29,200 | $71,917 | $132,777 | $233,120 |
Source: Ownwell
Property Tax Bills Across Collinsville, Alabama
In Collinsville, property tax bills are calculated based on the assessed value of your home, which is determined by the Cherokee County tax assessor. The assessed value is a percentage of the market value of your property. For a median home price of $71,917, the tax bill can vary significantly. Homeowners at the 25th percentile can expect to pay around $135, while those at the 75th percentile might see a tax bill of approximately $625. At the 90th percentile, the tax bill can go up to $1,021. Several factors influence your property tax bill, including property location, home improvements, and changes in the local tax rate. In Cherokee County, the highest median tax bill recorded is $302, which is comparatively lower than the national median property tax rate of 0.99%. For homeowners, understanding these factors and how they affect the assessed value is crucial in anticipating annual property tax expenses.
Average Collinsville Tax Bill
$302
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | $54 | $135 | $302 | $625 | $1,021 |
Source: Ownwell