Russellville, Alabama Property Taxes
The median property tax rate in Russellville, AL is 0.29%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Russellville at $133,027, the typical annual property tax bill is approximately $395, well below the national median of $2,690. Property taxes in Russellville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Russellville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Russellville 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
Russellville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$386
Ownwell’s Russellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russellville 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 Russellville, Alabama
Property taxes in Russellville, Alabama, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Russellville is 0.29%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Russellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Russellville 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 Russellville'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 found in Jefferson County, while the lowest median tax rate is in Crenshaw County. Understanding how these cities compare with Russellville 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 Russellville Tax Rate
0.29%
Average Lawrence County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russellville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35654 | 0.23% | 0.27% | 0.29% | 0.51% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Russellville, Alabama
In Russellville, 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 Russellville, 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 Russellville 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 found in the 35654 zip code, amounting to $395.
Average Russellville Assessed Value
$133,027
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 Russellville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35654 | $48,435 | $79,400 | $133,027 | $219,000 | $354,900 |
Source: Ownwell
Property Tax Bills Across Russellville, Alabama
In Russellville, Lawrence County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. This assessed value is a percentage of the market value of the property. Homeowners in Russellville experience property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is around $282, while at the 75th percentile, it rises to approximately $737. At the 90th percentile, homeowners could see tax bills as high as $1,038. Factors such as property location, size, and improvements can influence the assessed value, and consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Russellville's median tax bill of $395 reflects a relatively moderate property tax burden. This variability in tax bills affects homeowners by influencing their overall housing costs and can impact decisions related to property investments and homeownership in the area.
Average Russellville Tax Bill
$395
Average Lawrence County Tax Bill
$474
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Russellville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35654 | $159 | $282 | $395 | $737 | $1,038 |
Source: Ownwell