Lisman, Alabama Property Taxes
The median property tax rate in Lisman, AL is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $41,290 in Lisman, the typical annual property tax bill is just $96, far below the national median of $2,690. Property taxes in Lisman are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lisman'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 Lisman or another part of Choctaw County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lisman, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$128
Ownwell’s Lisman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisman 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 Lisman, Alabama
Property taxes in Lisman, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisman is 0.31%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Lisman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisman 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 Lisman's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Lisman provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lisman Tax Rate
0.31%
Average Choctaw County Tax Rate
0.29%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | 0.14% | 0.21% | 0.31% | 0.32% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Lisman, Alabama
In Lisman, 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 Choctaw 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 Lisman, 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 Lisman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lisman is $41,290, with annual tax bills ranging from $45 at the 25th percentile to $312 at the 90th percentile.
Average Lisman Assessed Value
$41,290
Average Choctaw County Assessed Value
$48,430
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | $10,880 | $21,040 | $41,290 | $71,348 | $112,611 |
Source: Ownwell
Property Tax Bills Across Lisman, Alabama
In Lisman, Choctaw County, AL, property tax bills are calculated based on the assessed value of a property, which typically represents a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in Lisman is $41,290. Property tax bills vary significantly, with the 25th percentile at $45, the 75th percentile at $180, and the 90th percentile reaching $312. These figures reflect the range of property values and the corresponding tax obligations homeowners face. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in market conditions. Homeowners in Lisman benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may have limited resources. Understanding these dynamics is crucial for both current and prospective homeowners in the area.
Average Lisman Tax Bill
$96
Average Choctaw County Tax Bill
$120
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | $26 | $45 | $96 | $180 | $312 |
Source: Ownwell