Luverne, Alabama Property Taxes
The median property tax rate in Luverne, AL is 0.23%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $81,130 in Luverne, the typical annual property tax bill is around $172, far below the national median of $2,690. Property taxes in Luverne 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 Luverne'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 Luverne 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
Luverne, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.23%
Estimate Property Tax Bill
$187
Ownwell’s LUVERNE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LUVERNE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LUVERNE 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 Luverne, Alabama
Property taxes in Luverne, Alabama, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Luverne is 0.33%, significantly lower than both the Alabama state median of 0.37% and the U.S. national median of 0.99%. Local government entities within Luverne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luverne 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 Luverne'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 0.66%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with Luverne provides valuable insights into the varying tax landscape across Crenshaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luverne Tax Rate
0.23%
Average Pike County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | 0.12% | 0.17% | 0.23% | 0.31% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Luverne, Alabama
In Luverne, 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 Pike 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 Luverne, 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. The median home price in Luverne is $81,130, with tax bills ranging from $68 at the 25th percentile to $565 at the 90th percentile. The highest and lowest median tax bills are both $172 in the 36049 zip code. By understanding 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 Luverne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Luverne Assessed Value
$81,130
Average Pike County Assessed Value
$106,920
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | $19,780 | $29,450 | $81,130 | $125,485 | $259,496 |
Source: Ownwell
Property Tax Bills Across Luverne, Alabama
In Luverne, property tax bills are calculated based on the assessed value of a property, which is a fraction of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including property size, location, and market conditions. For instance, the median home price in Luverne is $81,130, and property tax bills can vary significantly within the city. Homeowners in the 25th percentile pay around $68 annually, while those in the 75th percentile see bills closer to $349. The highest median tax bill recorded in the area is $172, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors can help residents better anticipate their property tax obligations and plan their finances accordingly.
Average Luverne Tax Bill
$172
Average Pike County Tax Bill
$420
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | $36 | $68 | $172 | $349 | $565 |
Source: Ownwell