Hillsboro, Alabama Property Taxes
The median property tax rate in Hillsboro, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $110,900 in Hillsboro, the typical annual property tax bill amounts to $426, which is well below the national median of $2,690. Property taxes in Hillsboro are calculated based on the assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hillsboro'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 Hillsboro or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hillsboro, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$333
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, Alabama
Property taxes in Hillsboro, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 0.30%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro'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 0.33%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with Hillsboro provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
0.30%
Average Lawrence County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35643 | 0.24% | 0.28% | 0.30% | 0.61% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, Alabama
In Hillsboro, 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 Lawrence 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 35643, amounting to $426.00, which is notably below the national median property tax rate of 0.99%.
Average Hillsboro Assessed Value
$110,900
Average Lawrence County Assessed Value
$132,500
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35643 | $37,490 | $63,425 | $110,900 | $189,702 | $277,928 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Alabama
In Hillsboro, located in Lawrence County, AL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Factors such as the median home price, which stands at $110,900, play a significant role in determining the final tax bill. For instance, homeowners in Hillsboro can expect a tax bill ranging from $249 at the 25th percentile to $655 at the 75th percentile, with the 90th percentile reaching up to $964. Compared to the national median property tax rate of 0.99%, Hillsboro's rates may seem favorable, but they still significantly impact homeowners' finances. The highest and lowest median tax bills in the area both stand at $426, indicating a relatively consistent tax burden across different zip codes. Understanding these factors helps homeowners anticipate their annual expenses and plan their budgets accordingly, ensuring they are well-prepared for their property tax obligations.
Average Hillsboro Tax Bill
$426
Average Lawrence County Tax Bill
$474
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35643 | $133 | $249 | $426 | $655 | $964 |
Source: Ownwell