Eight Mile, Alabama Property Taxes
The median property tax rate in EIGHT MILE, AL is 0.65%, which is lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in EIGHT MILE at $14,800, the typical annual property tax bill amounts to $96, significantly below the national median of $2,690. Property taxes in EIGHT MILE 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 EIGHT MILE'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 EIGHT MILE or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eight Mile, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$96
Ownwell’s EIGHT MILE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EIGHT MILE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EIGHT MILE 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 Eight Mile, Alabama
Property taxes in EIGHT MILE, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in EIGHT MILE is 0.65%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within EIGHT MILE set these rates annually, and they can vary significantly across different neighborhoods. Each year, EIGHT MILE 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 EIGHT MILE's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36613 has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with EIGHT MILE provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eight Mile Tax Rate
0.65%
Average Clarke County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eight Mile, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36613 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Eight Mile, Alabama
In EIGHT MILE, Alabama, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Clarke 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 EIGHT MILE, 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 EIGHT MILE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in EIGHT MILE is $14,800, with tax bills typically around $96.
Average Eight Mile Assessed Value
$14,800
Average Clarke County Assessed Value
$83,100
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eight Mile, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36613 | $14,800 | $14,800 | $14,800 | $14,800 | $14,800 |
Source: Ownwell
Property Tax Bills Across Eight Mile, Alabama
In EIGHT MILE, located in Clarke County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For instance, if the median home price is $14,800, the assessed value would be a fraction of this amount, depending on state and local assessment ratios. Once the assessed value is established, the property tax rate, or millage rate, is applied. Clarke County's tax bills at the 25th, 75th, and 90th percentiles are consistently $96, indicating a relatively stable tax rate across different property values. This is significantly lower than the national median property tax rate of 0.99%. For homeowners in EIGHT MILE, this means relatively low property tax bills compared to other parts of the country. However, even small tax bills can impact household budgets, so understanding how these taxes are calculated and ensuring that properties are accurately assessed is crucial for financial planning.
Average Eight Mile Tax Bill
$96
Average Clarke County Tax Bill
$300
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Eight Mile, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36613 | $96 | $96 | $96 | $96 | $96 |
Source: Ownwell