Collinsville, Alabama Property Taxes
The median property tax rate in Collinsville, AL is 0.33%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Collinsville at $91,540, the typical annual property tax bill is $315, well below the national median of $2,690. Property taxes in Collinsville 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 Collinsville'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 Collinsville or another part of DeKalb County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Collinsville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$302
Ownwell’s Collinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinsville 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 Collinsville, Alabama
Property taxes in Collinsville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinsville is 0.33%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Collinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinsville 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 Collinsville's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Collinsville provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinsville Tax Rate
0.33%
Average Dekalb County Tax Rate
0.36%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | 0.19% | 0.27% | 0.33% | 0.53% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Collinsville, Alabama
In Collinsville, 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 local assessors 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 Collinsville, 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 Collinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $315 in zip code 35961, while the lowest is also $315 in the same zip code.
Average Collinsville Assessed Value
$91,540
Average Dekalb County Assessed Value
$106,260
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | $21,924 | $44,550 | $91,540 | $164,550 | $269,488 |
Source: Ownwell
Property Tax Bills Across Collinsville, Alabama
In Collinsville, located in DeKalb County, Alabama, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Collinsville is $91,540. The tax rate is applied to this assessed value to determine the annual tax bill. Property tax bills can vary significantly, with the 25th percentile at $149, the 75th percentile at $574, and the 90th percentile reaching up to $933. Factors considered in determining the tax bill include the property's market value, any applicable exemptions, and the local tax rate. Homeowners in Collinsville experience relatively moderate property tax bills compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $315, found in the 35961 zip code. These property taxes play a crucial role in funding local services, such as schools and infrastructure, directly impacting the community's quality of life.
Average Collinsville Tax Bill
$315
Average Dekalb County Tax Bill
$412
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinsville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35961 | $60 | $149 | $315 | $574 | $933 |
Source: Ownwell