Gainestown, Alabama Property Taxes
The median property tax rate in Gainestown, Alabama is 0.29%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Gainestown, the typical annual property tax bill is $254, well below the national median of $2,690. Property taxes in Gainestown are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gainestown'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 Gainestown 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
Gainestown, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$269
Ownwell’s Gainestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gainestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gainestown 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 Clarke County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gainestown, Alabama
Property taxes in Gainestown, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainestown is 0.29%, which is significantly lower than both the Alabama state median of 0.42% and the U.S. national median of 0.99%. Local government entities within Gainestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gainestown 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 Gainestown'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 in zip code 35401 with a rate of 0.77%, while the lowest median tax rate is in zip code 35031 at 0.22%. Understanding how these cities compare with Gainestown 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 Gainestown Tax Rate
0.29%
Average Clarke County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gainestown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36540 | 0.12% | 0.22% | 0.29% | 0.42% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Gainestown, Alabama
In Gainestown, 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 Clarke 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 Gainestown, 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 Gainestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $254 in zip code 36540, which can help homeowners gauge their potential tax liabilities.
Average Gainestown Assessed Value
$92,650
Average Clarke County Assessed Value
$83,100
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gainestown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36540 | $21,990 | $46,100 | $92,650 | $149,650 | $211,310 |
Source: Ownwell
Property Tax Bills Across Gainestown, Alabama
In Gainestown, located in Clarke County, AL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Gainestown is $92,650. To determine the tax bill, local tax rates are applied to this assessed value. Factors such as property location, improvements, and exemptions also play a role in the final tax amount. Homeowners in Gainestown can expect their property tax bills to vary significantly. The 25th percentile of tax bills is around $115, while the 75th percentile reaches $422, and the 90th percentile can go up to $637. These variations can impact homeowners' annual budgets, influencing decisions on buying or selling property. Comparatively, the highest and lowest median tax bills in the area are both $254, indicating some consistency in tax rates within certain zip codes. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gainestown Tax Bill
$254
Average Clarke County Tax Bill
$300
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gainestown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36540 | $35 | $115 | $254 | $422 | $637 |
Source: Ownwell