Highland Home, Alabama Property Taxes
The median property tax rate in Highland Home, AL is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Highland Home at $80,560, the typical annual property tax bill is $282, well below the national median of $2,690. Property taxes in Highland Home are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Highland Home'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 Highland Home 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
Highland Home, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$274
Ownwell’s Highland Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Highland Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highland Home 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 Highland Home, Alabama
Property taxes in Highland Home, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highland Home is 0.34%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Highland Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highland Home 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 Highland Home'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 0.58%, while the lowest median tax rate is in Choctaw County at 0.14%. Understanding how these cities compare with Highland Home provides valuable insights into the varying tax landscape across Crenshaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highland Home Tax Rate
0.34%
Average Crenshaw County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | 0.18% | 0.27% | 0.34% | 0.47% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Highland Home, Alabama
In Highland Home, 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 Crenshaw 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 Highland Home, 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 Highland Home helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $282, both found in the zip code 36041.
Average Highland Home Assessed Value
$80,560
Average Crenshaw County Assessed Value
$88,920
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | $25,098 | $43,830 | $80,560 | $146,805 | $234,062 |
Source: Ownwell
Property Tax Bills Across Highland Home, Alabama
In Highland Home, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is typically a percentage of the property's market value, and this value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Highland Home, the median home price stands at $80,560. Property tax bills can vary significantly within this region. For instance, the tax bill at the 25th percentile is around $150, while at the 75th percentile, it rises to $541, and at the 90th percentile, it reaches $815. Interestingly, the highest and lowest median tax bills in the area are both recorded at $282, indicating a relatively narrow range of typical tax amounts within the zip code 36041. These property taxes contribute to local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents. Understanding how these taxes are calculated can help homeowners better plan their finances and anticipate annual expenses.
Average Highland Home Tax Bill
$282
Average Crenshaw County Tax Bill
$341
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | $83 | $150 | $282 | $541 | $815 |
Source: Ownwell