Bear Creek, Alabama Property Taxes
The median property tax rate in Bear Creek, Alabama is 0.32%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $71,390 in Bear Creek, the typical annual property tax bill is $247, which is well below the national median of $2,690. Property taxes in Bear Creek 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 Bear Creek'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 Bear Creek 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
Bear Creek, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$228
Ownwell’s Bear Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bear Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bear Creek 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 Bear Creek, Alabama
Property taxes in Bear Creek, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bear Creek is 0.32%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bear Creek set these rates annually, and they can vary across different neighborhoods. Each year, Bear Creek 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 Bear Creek'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 0.66%, while the lowest median tax rate is 0.24%. Understanding how these cities compare with Bear Creek provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bear Creek Tax Rate
0.32%
Average Marion County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bear Creek, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35543 | 0.20% | 0.25% | 0.32% | 0.55% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Bear Creek, Alabama
In Bear Creek, 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 Marion 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 Bear Creek, 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. For instance, the median home price in Bear Creek is $71,390, with tax bills ranging significantly. The 25th percentile tax bill is $152, while the 75th percentile is $417, and the 90th percentile reaches $721. The highest median tax bill, $247, is found in the 35543 zip code, which also has the lowest median tax bill of $247. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bear Creek Assessed Value
$71,390
Average Marion County Assessed Value
$95,335
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bear Creek, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35543 | $25,890 | $41,320 | $71,390 | $114,160 | $181,170 |
Source: Ownwell
Property Tax Bills Across Bear Creek, Alabama
In Bear Creek, 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 Bear Creek is $71,390. Homeowners in this city can expect their property tax bills to vary significantly, with the 25th percentile paying around $152 and the 75th percentile seeing bills of approximately $417. The highest median tax bill in the area is $247, which is consistent across the zip code 35543. Property tax rates in Bear Creek are influenced by several factors, including local government budgets, school funding needs, and public services. These taxes are essential for maintaining community infrastructure and services, but they also represent a significant expense for homeowners. Compared to the national median property tax rate of 0.99%, Bear Creek's property tax rates can be considered modest, potentially making it a more affordable option for potential homeowners. Understanding these factors helps residents anticipate their annual expenses and plan their finances accordingly.
Average Bear Creek Tax Bill
$247
Average Marion County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bear Creek, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35543 | $83 | $152 | $247 | $417 | $721 |
Source: Ownwell