Cordova, Alabama Property Taxes
The median property tax rate in Cordova, AL is 0.27%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Cordova at $65,600, the typical annual property tax bill is $209, far below the national median of $2,690. Property taxes in Cordova 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 Cordova'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 Cordova 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
Cordova, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$177
Ownwell’s Cordova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cordova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cordova 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 Cordova, Alabama
Property taxes in Cordova, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cordova is 0.27%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Cordova set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cordova 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 Cordova'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 found in Shelby County, with a rate of 0.43%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Cordova provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cordova Tax Rate
0.27%
Average Walker County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cordova, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35550 | 0.17% | 0.21% | 0.27% | 0.51% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Cordova, Alabama
In Cordova, 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 Walker 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 Cordova, 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 Cordova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cordova are both $209, found in the zip code 35550.
Average Cordova Assessed Value
$65,600
Average Walker County Assessed Value
$97,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cordova, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35550 | $19,340 | $36,100 | $65,600 | $120,000 | $189,100 |
Source: Ownwell
Property Tax Bills Across Cordova, Alabama
In Cordova, located in Walker County, AL, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Cordova, the median home price is $65,600, resulting in varying tax bills. The 25th percentile tax bill is around $109, while the 75th percentile reaches $357, and the 90th percentile climbs to $561. Comparatively, these figures are significantly lower than the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area both stand at $209, indicating a relatively uniform tax burden across different properties. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly, ensuring they are prepared for their annual property tax obligations.
Average Cordova Tax Bill
$209
Average Walker County Tax Bill
$298
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Cordova, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35550 | $50 | $109 | $209 | $357 | $561 |
Source: Ownwell