Equality, Alabama Property Taxes
The median property tax rate in Equality, AL is 0.26%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Equality, the typical annual property tax bill is $521, well below the national median of $2,690. Property taxes in Equality 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 Equality'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 Equality 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
Equality, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Equality Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Equality with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Equality 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 Equality, Alabama
Property taxes in Equality, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Equality is 0.26%, significantly lower than both the Alabama state median of 0.39% and the U.S. national median of 0.99%. Local government entities within Equality set these rates annually, and they can vary significantly across different neighborhoods. Each year, Equality 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 Equality'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 0.66%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with Equality provides valuable insights into the varying tax landscape across Coosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Equality Tax Rate
0.26%
Average Coosa County Tax Rate
0.27%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Equality, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36026 | 0.20% | 0.23% | 0.26% | 0.30% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Equality, Alabama
In Equality, 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 Coosa 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 Equality, 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. For example, the median home price in Equality is $174,800, with tax bills ranging from $213 at the 25th percentile to $2,017 at the 90th percentile. The zip code 36026 has the highest and lowest median tax bill at $521. By understanding 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 Equality helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Equality Assessed Value
$174,800
Average Coosa County Assessed Value
$86,950
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Equality, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36026 | $41,020 | $70,300 | $174,800 | $604,100 | $725,660 |
Source: Ownwell
Property Tax Bills Across Equality, Alabama
In Equality, property tax bills are determined by assessing the value of a home and applying the local tax rate to this assessed value. The median home price in Equality is $174,800. Property tax bills can vary significantly based on the assessed value and applicable exemptions. For example, the 25th percentile tax bill is around $213, while the 75th percentile tax bill reaches up to $1,637. The highest median tax bill in Coosa County, where Equality is located, is $521, which is relatively lower compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, local tax rates, and any eligible exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Equality Tax Bill
$521
Average Coosa County Tax Bill
$282
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Equality, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36026 | $125 | $213 | $521 | $1,637 | $2,017 |
Source: Ownwell