Luverne, Alabama Property Taxes
The median property tax rate in Luverne, AL is 0.37%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Luverne at $97,690, the typical annual property tax bill is $392, well below the national median of $2,690. Property taxes in Luverne are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Luverne'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 Luverne 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
Luverne, 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 Luverne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luverne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luverne 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 Luverne, Alabama
Property taxes in Luverne, Alabama, are essential for funding key local services such as public education, road maintenance, and emergency services. The median tax rate in Luverne is 0.37%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Luverne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luverne 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 Luverne'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 significantly higher than Luverne's, while some areas have even lower rates. Understanding how these cities compare with Luverne 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 Luverne Tax Rate
0.37%
Average Crenshaw County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | 0.22% | 0.31% | 0.37% | 0.55% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Luverne, Alabama
In Luverne, 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 Luverne, 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 Luverne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $392.00, found in the 36049 zip code.
Average Luverne Assessed Value
$97,690
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 Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | $32,896 | $55,280 | $97,690 | $177,910 | $281,560 |
Source: Ownwell
Property Tax Bills Across Luverne, Alabama
In Luverne, located in Crenshaw County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, the median home price in Luverne is $97,690. Property tax bills can vary significantly, with the 25th percentile at $221, the 75th percentile at $703, and the 90th percentile reaching $1,100. The highest median tax bill in the area is $392, which is notably lower than the national median property tax rate of 0.99%. Various factors, such as property location, improvements, and exemptions, influence the final tax bill. For homeowners, understanding these calculations is crucial as property taxes can impact monthly mortgage payments and overall housing affordability. Lower property tax rates in Luverne can make homeownership more accessible compared to regions with higher tax rates.
Average Luverne Tax Bill
$392
Average Crenshaw County Tax Bill
$341
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Luverne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36049 | $119 | $221 | $392 | $703 | $1,100 |
Source: Ownwell