Sylvan Springs, Alabama Property Taxes
The median property tax rate in Sylvan Springs, AL is 0.55%, which is lower than the national median of 0.99% but higher than the Alabama state median of 0.47%. With a median home value of $189,200 in Sylvan Springs, the typical annual property tax bill amounts to $1,003, falling below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Sylvan Springs' property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you're in the heart of Sylvan Springs or another part of Jefferson County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sylvan Springs, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,041
Ownwell’s Sylvan Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sylvan Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sylvan Springs 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 Jefferson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sylvan Springs, Alabama
Property taxes in Sylvan Springs, Alabama, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sylvan Springs is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Sylvan Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sylvan Springs 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 Sylvan Springs' effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35118 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Sylvan Springs 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 Sylvan Springs Tax Rate
0.55%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sylvan Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35118 | 0.43% | 0.49% | 0.55% | 0.55% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Sylvan Springs, Alabama
In Sylvan Springs, 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. In Sylvan Springs, 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 Sylvan Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sylvan Springs is $189,200, with median tax bills ranging from $698 at the 25th percentile to $1,205 at the 75th percentile. The highest and lowest median tax bills, both $1,003, are found in the 35118 zip code.
Property Tax Assessment Values Across Sylvan Springs, Alabama
Source: Ownwell
$3,100
$711,250
$1,419,400
Average Sylvan Springs Assessed Value
$189,200
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 Sylvan Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35118 | $119,940 | $181,050 | $189,200 | $211,950 | $221,140 |
Source: Ownwell
Property Tax Bills Across Sylvan Springs, Alabama
In Sylvan Springs, 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 is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Sylvan Springs, the median home price is $189,200, resulting in a typical tax bill that can range significantly. For instance, the 25th percentile tax bill is approximately $698, while the 75th percentile tax bill reaches around $1205, with the 90th percentile slightly higher at $1212. These property taxes fund essential local services, such as schools, public safety, and infrastructure. While the median tax bill in Sylvan Springs is relatively moderate compared to the national median property tax rate of 0.99%, it still represents a significant expense for homeowners, impacting their overall cost of living and financial planning.
Average Sylvan Springs Tax Bill
$1,003
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Sylvan Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35118 | $474 | $698 | $1,003 | $1,205 | $1,212 |
Source: Ownwell