Tuscumbia, Alabama Property Taxes
The median property tax rate in Tuscumbia, AL is 0.40%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Tuscumbia at $295,400, the typical annual property tax bill is $1,112, which is well below the national median of $2,690. Property taxes in Tuscumbia are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Tuscumbia'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 Tuscumbia or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tuscumbia, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,182
$1,096
Ownwell’s Tuscumbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tuscumbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tuscumbia 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 Tuscumbia, Alabama
Property taxes in Tuscumbia, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Tuscumbia is 0.40%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Tuscumbia set these rates annually, and they can vary across different neighborhoods. Each year, Tuscumbia 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 Tuscumbia's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35674 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Tuscumbia 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 Tuscumbia Tax Rate
0.40%
Average Franklin County Tax Rate
0.38%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tuscumbia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35674 | 0.18% | 0.34% | 0.40% | 0.41% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Tuscumbia, Alabama
In Tuscumbia, 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 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. 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. In Tuscumbia, the median home price is $295,400, and the median tax bill is $1,112, which is notably lower than the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tuscumbia Assessed Value
$295,400
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 Tuscumbia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35674 | $191,170 | $244,525 | $295,400 | $351,375 | $366,250 |
Source: Ownwell
Property Tax Bills Across Tuscumbia, Alabama
In Tuscumbia, located in Franklin County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by 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 instance, with a median home price of $295,400, homeowners can expect their tax bills to vary. At the 25th percentile, tax bills are around $910, while at the 75th percentile, they reach approximately $1378. The 90th percentile sees tax bills as high as $1860. Several factors influence these calculations, including the home's market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Tuscumbia's rates can be considered relatively moderate. These taxes fund essential community services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the overall quality of life and local amenities.
Average Tuscumbia Tax Bill
$1,112
Average Franklin County Tax Bill
$366
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tuscumbia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35674 | $407 | $910 | $1,112 | $1,378 | $1,860 |
Source: Ownwell