Bellwood, Alabama Property Taxes
The median property tax rate in Bellwood, Alabama is 0.64%, which is lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $55,400 in Bellwood, the typical annual property tax bill amounts to $236, significantly below the national median of $2,690. Property taxes in Bellwood 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 Bellwood'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 Bellwood or another part of Geneva County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bellwood, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$355
Ownwell’s Bellwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellwood 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 Bellwood, Alabama
Property taxes in Bellwood, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellwood is 0.64%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bellwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellwood 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 Bellwood's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36313 zip code has the highest median property tax rate of 0.64%, while the 36313 zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Bellwood provides valuable insights into the varying tax landscape across Geneva County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellwood Tax Rate
0.64%
Average Geneva County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36313 | 0.19% | 0.28% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Bellwood, Alabama
In Bellwood, 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 Geneva 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 Bellwood, 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 Bellwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Bellwood is $236.00 in the 36313 zip code, while the lowest is also $236.00 in the same zip code.
Average Bellwood Assessed Value
$55,400
Average Geneva County Assessed Value
$100,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36313 | $14,580 | $31,850 | $55,400 | $101,200 | $163,230 |
Source: Ownwell
Property Tax Bills Across Bellwood, Alabama
In Bellwood, Geneva County, Alabama, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in Bellwood is $55,400, which serves as a baseline for calculating property taxes. The local tax rate is applied to this assessed value, resulting in annual tax bills. For instance, the 25th percentile tax bill is $111, while the 75th percentile tax bill is $362. The 90th percentile tax bill can go up to $1,031, indicating variability based on property values and specific assessments. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Bellwood experience relatively lower tax bills compared to the national median property tax rate of 0.99%, making it more affordable. However, the tax burden can still significantly impact household budgets, especially for those with higher-valued properties or fewer exemptions. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Bellwood Tax Bill
$236
Average Geneva County Tax Bill
$373
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36313 | $71 | $111 | $236 | $362 | $1,031 |
Source: Ownwell