Walnut Grove, Alabama Property Taxes
The median property tax rate in Walnut Grove, AL is 0.43%, which is significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $106,100 in Walnut Grove, the typical annual property tax bill amounts to $484, well below the national median of $2,690. Property taxes in Walnut Grove are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Walnut Grove'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 Walnut Grove or another part of Etowah County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walnut Grove, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$456
Ownwell’s Walnut Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walnut Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walnut Grove 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 Walnut Grove, Alabama
Property taxes in Walnut Grove, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walnut Grove is 0.43%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Walnut Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walnut Grove 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 Walnut Grove's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35990 zip code has the highest median property tax rate of 0.43%, while the same 35990 zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Walnut Grove provides valuable insights into the varying tax landscape across Etowah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walnut Grove Tax Rate
0.43%
Average Etowah County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walnut Grove, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35990 | 0.35% | 0.40% | 0.43% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Walnut Grove, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Walnut Grove, Alabama. 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 Etowah 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 Walnut Grove, 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 Walnut Grove 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 $484.00 in the 35990 zip code, which is also the lowest median tax bill, reflecting the uniformity in property tax assessments within the region.
Average Walnut Grove Assessed Value
$106,100
Average Etowah County Assessed Value
$135,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walnut Grove, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35990 | $46,040 | $83,850 | $106,100 | $190,850 | $219,780 |
Source: Ownwell
Property Tax Bills Across Walnut Grove, Alabama
In Walnut Grove, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Walnut Grove, the median home price is $106,100. The property tax bill can range significantly, with the 25th percentile at $353 and the 75th percentile at $793. The 90th percentile tax bill reaches up to $951. This variability can impact homeowners differently, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Walnut Grove's property tax bills reflect the local economic conditions and property values. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Walnut Grove Tax Bill
$484
Average Etowah County Tax Bill
$625
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Walnut Grove, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35990 | $340 | $353 | $484 | $793 | $951 |
Source: Ownwell