Brookwood, Alabama Property Taxes
The median property tax rate in Brookwood, AL is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Brookwood at $145,500, the typical annual property tax bill is $459, well below the national median of $2,690. Property taxes in Brookwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Brookwood'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 Brookwood or another part of Tuscaloosa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brookwood, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$451
Ownwell’s Brookwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookwood 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 Brookwood, Alabama
Property taxes in Brookwood, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookwood is 0.31%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Brookwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookwood 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 Brookwood'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 0.18%. Understanding how these cities compare with Brookwood provides valuable insights into the varying tax landscape across Tuscaloosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookwood Tax Rate
0.31%
Average Tuscaloosa County Tax Rate
0.46%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35444 | 0.19% | 0.24% | 0.31% | 0.55% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Brookwood, Alabama
In Brookwood, 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 Tuscaloosa 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 in Brookwood 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 Brookwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Brookwood are both $459, found in the 35444 zip code. The median home price in the area is $145,500, with tax bills ranging from $221 at the 25th percentile to $1,718 at the 90th percentile.
Average Brookwood Assessed Value
$145,500
Average Tuscaloosa County Assessed Value
$160,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35444 | $36,120 | $72,600 | $145,500 | $202,250 | $261,500 |
Source: Ownwell
Property Tax Bills Across Brookwood, Alabama
In Brookwood, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Brookwood is $145,500. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In this region, the median tax bill is $459, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property location, home size, and market conditions. For example, homeowners in the 25th percentile pay around $221, while those in the 75th percentile pay approximately $807. The tax bill can go as high as $1,718 for properties in the 90th percentile. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by maintaining community standards and property values. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Brookwood Tax Bill
$459
Average Tuscaloosa County Tax Bill
$736
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35444 | $93 | $221 | $459 | $807 | $1,718 |
Source: Ownwell