Tallassee, Alabama Property Taxes
The median property tax rate in Tallassee, AL is 0.49%, slightly higher than the Alabama state median of 0.47% but below the national median of 0.99%. With a median home value of $70,460, the typical annual property tax bill in Tallassee is around $324, significantly lower than the national median of $2,690. Property taxes in Tallassee are calculated based on the tax assessed value, which is often below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Tallassee'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 Tallassee 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
Tallassee, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$345
Ownwell’s Tallassee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tallassee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tallassee 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 Tallassee, Alabama
Property taxes in Tallassee, Alabama, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Tallassee stands at 0.49%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Tallassee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tallassee estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Tallassee's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36078 zip code has the highest median property tax rate of 0.49%, while it also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Tallassee provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tallassee Tax Rate
0.49%
Average Macon County Tax Rate
0.52%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | 0.25% | 0.43% | 0.49% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Tallassee, Alabama
In Tallassee, 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 Macon 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 Tallassee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $324, found in zip code 36078.
Average Tallassee Assessed Value
$70,460
Average Macon County Assessed Value
$64,220
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | $11,790 | $35,025 | $70,460 | $197,020 | $275,840 |
Source: Ownwell
Property Tax Bills Across Tallassee, Alabama
Property tax bills in Tallassee, located in Macon County, Alabama, are determined by assessing the market value of a property and applying the local tax rate. The median home price in Tallassee is $70,460. To calculate the property tax, the assessed value of the home is considered, which is a percentage of the market value. This assessed value is then multiplied by the local property tax rate. Homeowners in Tallassee can expect a median property tax bill of around $324, which is significantly lower than the national median property tax rate of 0.99%. The tax bill can vary widely depending on the property's assessed value and specific exemptions that may apply. For example, the 25th percentile tax bill is $154, while the 75th percentile tax bill reaches $761, and the 90th percentile tax bill can be as high as $1,266. These variations can significantly impact homeowners, making it crucial to understand the factors influencing their property tax bills to effectively manage their financial obligations.
Average Tallassee Tax Bill
$324
Average Macon County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | $83 | $154 | $324 | $761 | $1,266 |
Source: Ownwell