Silas, Alabama Property Taxes
The median property tax rate in Silas, AL is 0.28%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Silas, the typical annual property tax bill is $97, well below the national median of $2,690. Property taxes in Silas 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 Silas'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 Silas 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
Silas, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$114
Ownwell’s Silas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silas 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 Silas, Alabama
Property taxes in Silas, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silas is 0.28%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Silas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silas 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 Silas's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the state is 0.41%, while the lowest median tax rate is 0.21%. Understanding how these cities compare with Silas provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silas Tax Rate
0.28%
Average Choctaw County Tax Rate
0.29%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silas, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36919 | 0.14% | 0.19% | 0.28% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Silas, Alabama
In Silas, 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 Choctaw 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 Silas, 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 Silas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip codes with the highest and lowest tax bills show a range from $49 at the 25th percentile to $392 at the 90th percentile.
Average Silas Assessed Value
$40,610
Average Choctaw County Assessed Value
$48,430
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silas, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36919 | $11,788 | $21,510 | $40,610 | $82,335 | $141,296 |
Source: Ownwell
Property Tax Bills Across Silas, Alabama
In Silas, located in Choctaw County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. The assessed value is a percentage of the market value of the property. For homeowners in Silas, the median home price stands at $40,610. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the local tax rate. In Choctaw County, the property tax bills can vary significantly. For example, at the 25th percentile, homeowners might pay around $49 annually, while those at the 75th percentile could see bills as high as $227. At the 90th percentile, the tax bill can reach approximately $392. Compared to the national median property tax rate of 0.99%, the property tax burden in Silas is relatively low, providing some relief to homeowners in the area. However, it's essential for property owners to stay informed about the factors affecting their tax bills to manage their financial planning effectively.
Average Silas Tax Bill
$97
Average Choctaw County Tax Bill
$120
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Silas, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36919 | $27 | $49 | $97 | $227 | $392 |
Source: Ownwell