Thomasville, Alabama Property Taxes
The median property tax rate in Thomasville, AL is 0.33%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Thomasville at $76,900, the typical annual property tax bill is $314, far below the national median of $2,690. Property taxes in Thomasville 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 Thomasville'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 Thomasville 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
Thomasville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$254
Ownwell’s Thomasville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thomasville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thomasville 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 Thomasville, Alabama
Property taxes in Thomasville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thomasville is 0.33%, which is significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Thomasville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thomasville 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 Thomasville's effective property tax rate to other counties in Alabama and the national median. For comparison, Clarke County has the highest median property tax rate of 0.40%, while Wilcox County has the lowest median tax rate of 0.33%. Understanding how these cities compare with Thomasville provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thomasville Tax Rate
0.33%
Average Wilcox County Tax Rate
0.36%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | 0.24% | 0.27% | 0.33% | 0.36% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Thomasville, Alabama
In Thomasville, 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 local 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 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. In Thomasville, the median home price is $76,900. The tax bill at the 25th percentile is $163, while at the 75th percentile, it is $542. The highest and lowest median tax bill in the area is $314, found in zip code 36784. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thomasville Assessed Value
$76,900
Average Wilcox County Assessed Value
$99,190
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | $40,108 | $48,340 | $76,900 | $151,090 | $242,216 |
Source: Ownwell
Property Tax Bills Across Thomasville, Alabama
In Thomasville, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. The median home price in Thomasville is $76,900, which serves as a baseline for calculating taxes. The local tax rate is applied to the assessed value of the property, and homeowners can expect varying tax bills based on this valuation. For instance, the 25th percentile tax bill is around $163, while the 75th percentile tax bill reaches up to $542. At the higher end, the 90th percentile tax bill is approximately $751. Factors such as property location within Wilcox County and specific characteristics of the home, like size and age, influence these valuations. Compared to the national median property tax rate of 0.99%, Thomasville's rates provide a more affordable option for homeowners. These tax bills directly impact homeowners by affecting their annual expenses and overall cost of homeownership, making it essential to understand how these calculations are made and what influences them.
Average Thomasville Tax Bill
$314
Average Wilcox County Tax Bill
$331
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | $100 | $163 | $314 | $542 | $751 |
Source: Ownwell