Steele, Alabama Property Taxes
The median property tax rate in Steele, Alabama 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 Steele, the typical annual property tax bill is $305, well below the national median of $2,690. Property taxes in Steele are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Steele'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 Steele or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Steele, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$302
Ownwell’s Steele Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steele with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steele 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 Steele, Alabama
Property taxes in Steele, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steele is 0.29%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Steele set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steele 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 Steele's effective property tax rate to other counties in Alabama and the national median. Understanding how Steele's property tax rates compare with other areas provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Steele Tax Rate
0.29%
Average St. Clair County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steele, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35987 | 0.16% | 0.23% | 0.29% | 0.33% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Steele, Alabama
In Steele, 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 St. Clair 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 Steele, 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. For example, the median home price in Steele is $104,280. The tax bill for the 25th percentile is $149, while the 75th percentile sees a tax bill of $513. The 90th percentile tax bill is $873. The highest and lowest median tax bills are both $305 in the 35987 zip code. 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 Steele helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Steele Assessed Value
$104,280
Average St. Clair County Assessed Value
$169,020
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Steele, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35987 | $36,082 | $56,740 | $104,280 | $178,215 | $273,544 |
Source: Ownwell
Property Tax Bills Across Steele, Alabama
In Steele, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in Steele is $104,280. Homeowners in Steele typically see a range of tax bills, with the 25th percentile paying around $149 annually and the 75th percentile paying approximately $513. At the 90th percentile, the tax bill can reach up to $873. The highest median tax bill in Steele is $305, found in the 35987 zip code. Compared to the national median property tax rate of 0.99%, Steele offers relatively moderate property taxes, which can significantly impact homeowners by keeping their annual expenses lower. This lower tax burden can make homeownership more affordable and attractive in Steele, contributing to the overall appeal of the area.
Average Steele Tax Bill
$305
Average St. Clair County Tax Bill
$648
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Steele, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35987 | $67 | $149 | $305 | $513 | $873 |
Source: Ownwell