Gaylesville, Alabama Property Taxes
The median property tax rate in Gaylesville, Alabama is 0.42%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Gaylesville at $96,500, the typical annual property tax bill is $465, significantly below the national median of $2,690. Property taxes in Gaylesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gaylesville'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 Gaylesville 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
Gaylesville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$405
Ownwell’s GAYLESVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GAYLESVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GAYLESVILLE 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 Gaylesville, Alabama
Property taxes in Gaylesville, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gaylesville is 0.42%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Gaylesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gaylesville 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 Gaylesville's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35973 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Gaylesville provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaylesville Tax Rate
0.42%
Average Cherokee County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaylesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35973 | 0.29% | 0.38% | 0.42% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Gaylesville, Alabama
In Gaylesville, 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 Cherokee 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 Gaylesville, 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 Gaylesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 35973 has the highest and lowest median tax bill of $465.
Average Gaylesville Assessed Value
$96,500
Average Cherokee County Assessed Value
$121,000
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaylesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35973 | $20,240 | $41,700 | $96,500 | $174,700 | $258,960 |
Source: Ownwell
Property Tax Bills Across Gaylesville, Alabama
In Gaylesville, property tax bills are calculated by assessing the property's value and applying the local tax rate. The assessed value is determined by the Cherokee County tax assessor and reflects a percentage of the property's market value. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Homeowners in Gaylesville experience a range of property tax bills. The 25th percentile tax bill is around $209, while the 75th percentile reaches up to $842. For those in the 90th percentile, the tax bill can be as high as $1243. The highest and lowest median tax bills in the area are both $465, indicating a relatively consistent tax environment within the 35973 zip code. Compared to the national median property tax rate of 0.99%, Gaylesville's property tax bills can vary significantly, affecting homeowners' annual financial planning and overall affordability.
Average Gaylesville Tax Bill
$465
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaylesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35973 | $96 | $209 | $465 | $842 | $1,243 |
Source: Ownwell