Beatrice, Alabama Property Taxes
The median property tax rate in Beatrice, AL is 0.39%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Beatrice at $52,110, the typical annual property tax bill is $214, far below the national median of $2,690. Property taxes in Beatrice are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beatrice'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 Beatrice or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beatrice, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Beatrice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beatrice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beatrice 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 Beatrice, Alabama
Property taxes in Beatrice, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beatrice is 0.42%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Beatrice set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beatrice 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 Beatrice's effective property tax rate to other counties in Alabama and the national median. For comparison, ZIP code 35203 has the highest median property tax rate of 0.66%, while ZIP code 36502 has the lowest median tax rate of 0.33%. Understanding how these cities compare with Beatrice provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beatrice Tax Rate
0.39%
Average Monroe County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beatrice, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36425 | 0.15% | 0.24% | 0.39% | 0.62% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Beatrice, Alabama
In Beatrice, 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 Monroe 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 Beatrice, 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 Beatrice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Beatrice is $214 in the 36425 zip code, which is also the lowest.
Average Beatrice Assessed Value
$52,110
Average Monroe County Assessed Value
$87,150
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beatrice, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36425 | $17,148 | $30,870 | $52,110 | $98,210 | $164,164 |
Source: Ownwell
Property Tax Bills Across Beatrice, Alabama
In Beatrice, Monroe County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Beatrice is $52,110. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. Homeowners in Beatrice experience a range of tax bills, with the 25th percentile at $110 and the 75th percentile at $351. At the higher end, the 90th percentile tax bill reaches $544. These property taxes fund local services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Beatrice's property taxes are relatively manageable, making it an attractive location for homeowners seeking affordability. The highest and lowest median tax bills in the area are both $214, highlighting the consistency in property tax assessments within Monroe County.
Average Beatrice Tax Bill
$214
Average Monroe County Tax Bill
$316
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Beatrice, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36425 | $51 | $110 | $214 | $351 | $544 |
Source: Ownwell