Hackleburg, Alabama Property Taxes
The median property tax rate in Hackleburg, AL is 0.32%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $93,100 in Hackleburg, the typical annual property tax bill is approximately $217, much less than the national median of $2,690. Property taxes in Hackleburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hackleburg'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 Hackleburg or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hackleburg, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$298
$276
Ownwell’s Hackleburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hackleburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hackleburg 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 Hackleburg, Alabama
Property taxes in Hackleburg, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hackleburg is 0.32%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Hackleburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hackleburg 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 Hackleburg's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Hackleburg provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hackleburg Tax Rate
0.32%
Average Franklin County Tax Rate
0.38%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | 0.16% | 0.23% | 0.32% | 0.34% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Hackleburg, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hackleburg, Alabama. 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 Franklin 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 Hackleburg, 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. The median home price in Hackleburg is $93,100, with tax bills ranging from $186 at the 25th percentile to $384 at the 90th percentile. The zip code 35564 has both the highest and lowest median tax bill at $217. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hackleburg Assessed Value
$93,100
Average Franklin County Assessed Value
$95,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | $33,050 | $67,975 | $93,100 | $95,175 | $124,890 |
Source: Ownwell
Property Tax Bills Across Hackleburg, Alabama
In Hackleburg, located in Franklin County, AL, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Hackleburg can expect property tax bills that vary significantly based on their property's value and specific local tax rates. For a median home price of $93,100, property tax bills typically range from $186 at the 25th percentile to $384 at the 90th percentile. This variation highlights how different factors, such as property location, improvements, and exemptions, can influence the final tax bill. The highest and lowest median tax bills in the area are both $217, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Hackleburg anticipate their property tax obligations and plan accordingly. Lower property taxes can make homeownership more affordable, but it's essential to stay informed about local assessments and potential changes in tax rates.
Average Hackleburg Tax Bill
$217
Average Franklin County Tax Bill
$366
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | $122 | $186 | $217 | $314 | $384 |
Source: Ownwell