Leesburg, Alabama Property Taxes
The median property tax rate in Leesburg, Alabama is 0.44%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $126,800 in Leesburg, the typical annual property tax bill is $685, far below the national median of $2,690. Property taxes in Leesburg are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leesburg'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 Leesburg 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
Leesburg, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$558
Ownwell’s Leesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leesburg 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 Leesburg, Alabama
Property taxes in Leesburg, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leesburg is 0.44%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Leesburg set these rates annually, and they can vary across different neighborhoods. Each year, Leesburg 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 Leesburg's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35983 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Leesburg 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 Leesburg Tax Rate
0.44%
Average Cherokee County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leesburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35983 | 0.34% | 0.40% | 0.44% | 0.84% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Leesburg, Alabama
In Leesburg, 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 Leesburg, 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 Leesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Leesburg are both $685, found in the zip code 35983.
Average Leesburg Assessed Value
$126,800
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 Leesburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35983 | $19,200 | $51,300 | $126,800 | $222,000 | $330,074 |
Source: Ownwell
Property Tax Bills Across Leesburg, Alabama
In Leesburg, Cherokee County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Leesburg is $126,800, and homeowners can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $294, while at the 75th percentile, it rises to $1,180. The top 10% of tax bills can reach up to $1,784. Factors influencing these variations include the property's location within the county, any applicable exemptions, and changes in the local tax rate. Homeowners in the zip code 35983 experience the highest median tax bill of $685. Compared to the national median property tax rate of 0.99%, Leesburg's rates reflect the unique economic and regulatory environment of the area, impacting homeowners' annual financial planning and housing affordability.
Average Leesburg Tax Bill
$685
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Leesburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35983 | $110 | $294 | $685 | $1,180 | $1,784 |
Source: Ownwell