Hollywood, Alabama Property Taxes
The median property tax rate in Hollywood, AL is 0.29%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hollywood, the typical annual property tax bill reaches $338, well below the national median of $2,690. Property taxes in Hollywood 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 Hollywood'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 Hollywood 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
Hollywood, 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 Hollywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hollywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hollywood 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 Hollywood, Alabama
Property taxes in Hollywood, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollywood is 0.36%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Hollywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hollywood 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 Hollywood'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 0.77%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with Hollywood provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hollywood Tax Rate
0.29%
Average Jackson County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hollywood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35752 | 0.21% | 0.26% | 0.29% | 0.37% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Hollywood, Alabama
In Hollywood, 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 Jackson 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 Hollywood, 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 Hollywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 35752 at $338, while the same zip code also holds the lowest median tax bill at $338.
Average Hollywood Assessed Value
$94,600
Average Jackson County Assessed Value
$104,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hollywood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35752 | $29,340 | $55,700 | $94,600 | $181,200 | $301,520 |
Source: Ownwell
Property Tax Bills Across Hollywood, Alabama
In Hollywood, Jackson County, AL, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Factors such as property size, location, and improvements can influence the assessed value. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. For homeowners in Hollywood, the tax bill can vary significantly. The 25th percentile tax bill is around $188, while the 75th percentile reaches approximately $573. At the 90th percentile, homeowners might see tax bills as high as $894. This variability reflects differences in property values and exemptions that may apply. Compared to the national median property tax rate of 0.99%, Hollywood's property tax rates are relatively moderate, offering some relief to homeowners. However, it's essential to stay informed about changes in property assessments and tax rates to manage financial planning effectively.
Average Hollywood Tax Bill
$338
Average Jackson County Tax Bill
$375
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hollywood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35752 | $89 | $188 | $338 | $573 | $894 |
Source: Ownwell