Knoxville, Alabama Property Taxes
The median property tax rate in Knoxville, Alabama is 0.37%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Knoxville, the typical annual property tax bill reaches $315, significantly below the national median of $2,690. Property taxes in Knoxville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Knoxville'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 Knoxville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Knoxville, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Knoxville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knoxville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knoxville 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 Knoxville, Alabama
Property taxes in Knoxville, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knoxville is 0.37%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Knoxville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knoxville 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 Knoxville's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the state is 0.66%, while the lowest median tax rate is 0.21%. Understanding how these cities compare with Knoxville provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knoxville Tax Rate
0.37%
Average Greene County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | 0.24% | 0.28% | 0.37% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Knoxville, Alabama
In Knoxville, 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 Greene 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 Knoxville, 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 Knoxville is $73,150, and the median tax bill in the zip code 35469 is $315. Being aware of these valuation processes in Knoxville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Knoxville Assessed Value
$73,150
Average Greene County Assessed Value
$64,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | $19,150 | $32,900 | $73,150 | $145,700 | $227,800 |
Source: Ownwell
Property Tax Bills Across Knoxville, Alabama
In Knoxville, Alabama, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The median home price in Knoxville is $73,150. The local tax authorities then apply the county's tax rate to this assessed value to determine the annual tax bill. For homeowners in Knoxville, the tax bill can vary significantly. The 25th percentile tax bill is $166, while the 75th percentile tax bill is $538. At the 90th percentile, homeowners can expect to pay around $871. Several factors influence these variations, including property size, location, and any applicable exemptions. Homeowners in Knoxville benefit from relatively lower property taxes compared to the national median property tax rate of 0.99%. However, the highest median tax bill in Greene County is $315, indicating some variability within the region. Understanding these factors helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Knoxville Tax Bill
$315
Average Greene County Tax Bill
$290
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | $74 | $166 | $315 | $538 | $871 |
Source: Ownwell