Geraldine, Alabama Property Taxes
The median property tax rate in Geraldine, AL is 0.36%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Geraldine at $104,560, the typical annual property tax bill is $397, well below the national median of $2,690. Property taxes in Geraldine 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 Geraldine'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 Geraldine or another part of DeKalb County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Geraldine, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$376
Ownwell’s Geraldine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Geraldine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Geraldine 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 Geraldine, Alabama
Property taxes in Geraldine, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Geraldine is 0.36%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Geraldine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Geraldine 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 Geraldine'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 in Jefferson County at 0.66%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Geraldine provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Geraldine Tax Rate
0.36%
Average Dekalb County Tax Rate
0.36%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Geraldine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35974 | 0.23% | 0.30% | 0.36% | 0.60% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Geraldine, Alabama
In Geraldine, 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 DeKalb 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 Geraldine, 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 Geraldine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Geraldine both stand at $397, highlighting the uniformity in tax assessments within the 35974 zip code.
Average Geraldine Assessed Value
$104,560
Average Dekalb County Assessed Value
$106,260
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Geraldine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35974 | $22,612 | $52,380 | $104,560 | $185,740 | $272,516 |
Source: Ownwell
Property Tax Bills Across Geraldine, Alabama
Property tax bills in Geraldine, located in DeKalb County, AL, are calculated based on the assessed value of a property, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the home, and this value is then multiplied by the local tax rate to determine the annual property tax bill. In Geraldine, the median home price is $104,560. For homeowners, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $192, while at the 75th percentile, it rises to $720, and at the 90th percentile, it reaches $1,129. The highest median tax bill in the area is $397, which is consistent across the zip code 35974. Comparatively, the property tax rate in Geraldine is relatively low, considering the national median property tax rate is 0.99%. This lower tax burden can be advantageous for homeowners, making it more affordable to own and maintain property in this region.
Average Geraldine Tax Bill
$397
Average Dekalb County Tax Bill
$412
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Geraldine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35974 | $62 | $192 | $397 | $720 | $1,129 |
Source: Ownwell