Hanceville, Alabama Property Taxes
The median property tax rate in Hanceville, AL is 0.25%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hanceville at $138,800, the typical annual property tax bill is $375, well below the national median of $2,690. Property taxes in Hanceville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hanceville'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 Hanceville 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
Hanceville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$347
Ownwell’s Hanceville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hanceville with just two pieces of information. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hanceville to provide an estimate of your property tax bill. This valuable insight helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Hanceville, Alabama
Property taxes in Hanceville, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanceville is 0.25%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Hanceville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanceville 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 Hanceville's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in Shelby County at 0.51%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Hanceville provides valuable insights into the varying tax landscape across Cullman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanceville Tax Rate
0.25%
Average Cullman County Tax Rate
0.25%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanceville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35077 | 0.16% | 0.21% | 0.25% | 0.33% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Hanceville, Alabama
In Hanceville, 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 Cullman 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 Hanceville, 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 Hanceville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $375 in the 35077 zip code, while the lowest median tax bill is also $375, making it essential to understand and manage these valuations.
Average Hanceville Assessed Value
$138,800
Average Cullman County Assessed Value
$169,500
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanceville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35077 | $52,000 | $87,625 | $138,800 | $216,425 | $325,340 |
Source: Ownwell
Property Tax Bills Across Hanceville, Alabama
In Hanceville, located in Cullman County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by the local tax assessor. In this region, the median home price stands at $138,800. Homeowners can expect their property tax bills to vary widely, with the 25th percentile tax bill at $235 and the 75th percentile reaching $611. For those in the 90th percentile, tax bills can go up to $949. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. The local tax rate in Cullman County is below the national median property tax rate of 0.99%, making it relatively affordable for homeowners. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses and overall financial planning.
Average Hanceville Tax Bill
$375
Average Cullman County Tax Bill
$503
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanceville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35077 | $120 | $235 | $375 | $611 | $949 |
Source: Ownwell