Double Springs, Alabama Property Taxes
The median property tax rate in Double Springs, AL is 0.28%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Double Springs at $99,120, the typical annual property tax bill is $313, well below the national median of $2,690. Property taxes in Double Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Double Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Double Springs 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
Double Springs, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$278
Ownwell’s DOUBLE SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DOUBLE SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DOUBLE SPRINGS 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 Double Springs, Alabama
Property taxes in Double Springs, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Double Springs is 0.28%, significantly lower than the U.S. national median of 0.99%. Local government entities within Double Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Double Springs 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 Double Springs' effective property tax rate to other counties in Alabama and the national median. Understanding how Double Springs compares with other areas provides valuable insights into the varying tax landscape across Winston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Double Springs Tax Rate
0.28%
Average Winston County Tax Rate
0.28%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Double Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35553 | 0.17% | 0.24% | 0.28% | 0.43% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Double Springs, Alabama
In Double Springs, 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 Winston 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 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 Double Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Double Springs are both $313, found in the 35553 zip code.
Average Double Springs Assessed Value
$99,120
Average Winston County Assessed Value
$114,100
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Double Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35553 | $20,864 | $45,290 | $99,120 | $195,190 | $407,708 |
Source: Ownwell
Property Tax Bills Across Double Springs, Alabama
In Double Springs, located in Winston County, AL, property tax bills are calculated based on the assessed value of a home. This assessed value is typically a percentage of the market value. The property tax rate in Double Springs is applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including property size, location, and any applicable exemptions. For homeowners in Double Springs, property taxes can vary significantly. The 25th percentile tax bill is around $126, while the 75th percentile reaches $647, and the 90th percentile can be as high as $1381. The median home price in the area is $99,120, which helps provide context for these figures. The highest and lowest median tax bills in Double Springs are both $313, indicating a relatively consistent tax rate within the region. Understanding these factors is crucial for homeowners, as property taxes impact overall housing costs and budgeting. By knowing how tax bills are calculated, homeowners can better anticipate their annual expenses.
Average Double Springs Tax Bill
$313
Average Winston County Tax Bill
$384
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Double Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35553 | $52 | $126 | $313 | $647 | $1,381 |
Source: Ownwell