Holly Pond, Alabama Property Taxes
The median property tax rate in Holly Pond, AL is 0.24%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Holly Pond at $148,900, the typical annual property tax bill is $385, well below the national median of $2,690. Property taxes in Holly Pond are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Holly Pond'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 Holly Pond or another part of Cullman County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holly Pond, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$357
Ownwell's HOLLY POND Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in HOLLY POND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOLLY POND to provide an estimate of your property tax bill. This valuable tool helps you gain insight into potential tax liabilities. For those interested in more localized trends, you can find detailed neighborhood-level information by scrolling down. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Holly Pond, Alabama
Property taxes in Holly Pond, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holly Pond is 0.24%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Holly Pond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holly Pond 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 Holly Pond'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, while some areas have rates even lower than Holly Pond's 0.24%. Understanding how these cities compare with Holly Pond provides valuable insights into the varying tax landscape across Cullman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holly Pond Tax Rate
0.24%
Average Cullman County Tax Rate
0.25%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holly Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35083 | 0.16% | 0.20% | 0.24% | 0.26% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Holly Pond, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holly Pond, Alabama. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Cullman 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. Assessment notices in Holly Pond 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 Holly Pond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Holly Pond, the median home price is $148,900. The highest and lowest median tax bills are both $385, found in zip code 35083.
Average Holly Pond Assessed Value
$148,900
Average Cullman County Assessed Value
$169,500
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holly Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35083 | $58,200 | $94,900 | $148,900 | $235,300 | $361,800 |
Source: Ownwell
Property Tax Bills Across Holly Pond, Alabama
In Holly Pond, located in Cullman County, AL, property tax bills are calculated based on the assessed value of a home, which is typically 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, with a median home price of $148,900, homeowners can expect varying tax bills depending on specific assessments and exemptions. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. In Cullman County, the 25th percentile of tax bills is around $238, while the 75th percentile reaches $607. At the 90th percentile, homeowners might see bills up to $931. The median tax bill in Holly Pond is $385, which is relatively low compared to the national median property tax rate of 0.99%. These property tax bills significantly impact homeowners by affecting their annual budgets and long-term financial planning, making it crucial to understand how these taxes are calculated.
Average Holly Pond Tax Bill
$385
Average Cullman County Tax Bill
$503
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Holly Pond, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35083 | $134 | $238 | $385 | $607 | $931 |
Source: Ownwell