Honoraville, Alabama Property Taxes
The median property tax rate in Honoraville, AL is 0.32%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $103,500 in Honoraville, the typical annual property tax bill amounts to $335, which is well below the national median of $2,690. Property taxes in Honoraville are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Honoraville'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 Honoraville or another part of Crenshaw County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Honoraville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$331
Ownwell’s Honoraville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honoraville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honoraville 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 Honoraville, Alabama
Property taxes in Honoraville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honoraville is 0.32%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Honoraville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honoraville 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 Honoraville's effective property tax rate to other counties in Alabama and the national median. Understanding how Honoraville compares with other cities provides valuable insights into the varying tax landscape across Crenshaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Honoraville Tax Rate
0.32%
Average Crenshaw County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | 0.17% | 0.27% | 0.32% | 0.38% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Honoraville, Alabama
In Honoraville, 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 Crenshaw 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 Honoraville, 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 Honoraville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $335 in the 36042 zip code, while the lowest median tax bill is also $335 in the same zip code. This information can help homeowners gauge their property tax expectations relative to national trends, where the median property tax rate is 0.99%.
Average Honoraville Assessed Value
$103,500
Average Crenshaw County Assessed Value
$88,920
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | $34,484 | $64,140 | $103,500 | $165,820 | $249,692 |
Source: Ownwell
Property Tax Bills Across Honoraville, Alabama
In Honoraville, Crenshaw County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Honoraville is $103,500. Property taxes are determined by applying the local tax rate to the assessed value. The tax bill varies, with the 25th percentile paying around $202 and the 75th percentile paying about $548, while the 90th percentile sees bills as high as $792. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Homeowners in Honoraville should be aware that their property tax bill can significantly impact their annual budget. Compared to the national median property tax rate of 0.99%, Honoraville's rates are relatively modest, making it an appealing area for homeowners looking to manage their expenses. Understanding how these factors interact can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Honoraville Tax Bill
$335
Average Crenshaw County Tax Bill
$341
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | $102 | $202 | $335 | $548 | $792 |
Source: Ownwell