Bessemer, Alabama Property Taxes
The median property tax rate in Bessemer, AL is 0.60%, which is significantly lower than the national median of 0.99% but higher than the Alabama state median of 0.47%. With a median home value of $109,700 in Bessemer, the typical annual property tax bill amounts to $802, well below the national median of $2,690. Property taxes in Bessemer are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Familiarizing yourself with Bessemer's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Bessemer 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
Bessemer, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$658
Ownwell’s Bessemer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bessemer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bessemer 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 Bessemer, Alabama
Property taxes in Bessemer, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bessemer is 0.60%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bessemer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bessemer 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 Bessemer's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the 35020 zip code has the highest median property tax rate of 1.20%, while the 35022 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Bessemer provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bessemer Tax Rate
0.60%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35020 | 0.49% | 0.61% | 1.20% | 1.37% | 1.37% |
| 35022 | 0.43% | 0.47% | 0.49% | 0.86% | 1.37% |
| 35023 | 0.44% | 0.49% | 0.57% | 1.00% | 1.20% |
| 35244 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Bessemer, Alabama
In Bessemer, 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 Jefferson 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. 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 Bessemer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bessemer, the highest median tax bill is $1,075 in the 35022 zip code, while the lowest median tax bill is $365 in the 35244 zip code.
Average Bessemer Assessed Value
$109,700
Average Jefferson County Assessed Value
$150,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35020 | $20,300 | $35,100 | $54,000 | $78,300 | $117,000 |
| 35022 | $60,050 | $115,600 | $191,050 | $248,275 | $309,100 |
| 35023 | $61,700 | $89,900 | $128,800 | $177,000 | $239,400 |
| 35244 | $36,400 | $36,400 | $36,400 | $36,400 | $36,400 |
Source: Ownwell
Property Tax Bills Across Bessemer, Alabama
In Bessemer, property tax bills are calculated based on the assessed value of a home, which is determined by the Jefferson County tax assessor. The assessed value typically represents a percentage of the home's market value. Key factors considered in the assessment include the property's location, size, and condition. Homeowners in Bessemer can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $480, while the 75th percentile reaches $1,176, and the 90th percentile can go up to $1,646. The median home price in Bessemer is $109,700, making the property tax rate relatively manageable compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $1,075 in the 35022 zip code, whereas the lowest is $365 in the 35244 zip code. These variations in property tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Bessemer Tax Bill
$802
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35020 | $194 | $315 | $504 | $767 | $1,073 |
| 35022 | $410 | $759 | $1,075 | $1,418 | $2,065 |
| 35023 | $381 | $574 | $850 | $1,190 | $1,648 |
| 35244 | $365 | $365 | $365 | $365 | $365 |
Source: Ownwell