Akron, Alabama Property Taxes
The median property tax rate in Akron, Alabama is 0.33%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Akron at $65,300, the typical annual property tax bill is $234, far below the national median of $2,690. Property taxes in Akron 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 Akron'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 Akron 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
Akron, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$215
Ownwell’s Akron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Akron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Akron 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 Akron, Alabama
Property taxes in Akron, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Akron 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 Akron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Akron 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 Akron's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in Shelby County at 0.43%, while the lowest median tax rate is in Bibb County at 0.24%. Understanding how these cities compare with Akron provides valuable insights into the varying tax landscape across Hale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Akron Tax Rate
0.33%
Average Hale County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Akron, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35441 | 0.19% | 0.26% | 0.33% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Akron, Alabama
In Akron, 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 Hale 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 Akron, 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 Akron is $65,300, with tax bills ranging from $114 at the 25th percentile to $909 at the 90th percentile. The highest and lowest median tax bills, both at $234, are found in the 35441 zip code. Being aware of these valuation processes in Akron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Akron Assessed Value
$65,300
Average Hale County Assessed Value
$85,050
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Akron, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35441 | $15,696 | $29,760 | $65,300 | $130,530 | $262,952 |
Source: Ownwell
Property Tax Bills Across Akron, Alabama
In Akron, located in Hale County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Akron is $65,300. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $114, the 75th percentile paying approximately $478, and the 90th percentile reaching up to $909. These figures illustrate the range of property tax burdens within the area. Local property tax rates and the assessed value of the property are key factors in determining the final tax bill. For example, even though the highest and lowest median tax bills in the county are both recorded at $234 in the zip code 35441, individual tax liabilities can differ based on specific property assessments and applicable exemptions. Homeowners in Akron may find their property tax bills to be relatively moderate compared to the national median property tax rate of 0.99%, impacting their overall financial planning and homeownership costs.
Average Akron Tax Bill
$234
Average Hale County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Akron, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35441 | $48 | $114 | $234 | $478 | $909 |
Source: Ownwell