Lincoln, Alabama Property Taxes
The median property tax rate in Lincoln, AL is 0.38%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Lincoln at $130,880, the typical annual property tax bill is $483, far below the national median of $2,690. Property taxes in Lincoln are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lincoln'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 Lincoln or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincoln, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$497
Ownwell’s Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Alabama
Property taxes in Lincoln, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 0.38%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln'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 at 0.43%, while the lowest median tax rate is in Crenshaw County at 0.29%. Understanding how these cities compare with Lincoln provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln Tax Rate
0.38%
Average Calhoun County Tax Rate
0.44%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | 0.29% | 0.35% | 0.38% | 0.40% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Alabama
In Lincoln, 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 Calhoun 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 Lincoln, 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 Lincoln, the median home price is $130,880, with tax bills ranging from $290 at the 25th percentile to $1,041 at the 90th percentile. The highest and lowest median tax bills are both $483 in the 35096 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lincoln Assessed Value
$130,880
Average Calhoun County Assessed Value
$121,640
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | $48,404 | $80,990 | $130,880 | $192,110 | $264,760 |
Source: Ownwell
Property Tax Bills Across Lincoln, Alabama
In Lincoln, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value, reflecting its worth in the current real estate market. Homeowners in Lincoln, located in Calhoun County, can expect a range of property tax bills depending on their property's assessed value. The median home price in Lincoln is $130,880, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is around $290, while at the 75th percentile, it rises to approximately $755. At the 90th percentile, homeowners may see tax bills as high as $1,041. Comparatively, the highest and lowest median tax bills in the area are both $483, indicating a consistent tax rate applied across different properties. These property tax bills directly impact homeowners by influencing their annual housing costs. Understanding how these calculations are made helps homeowners budget effectively and anticipate future tax obligations.
Average Lincoln Tax Bill
$483
Average Calhoun County Tax Bill
$571
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | $215 | $290 | $483 | $755 | $1,041 |
Source: Ownwell