Monroeville, Alabama Property Taxes
The median property tax rate in Monroeville, AL is 0.36%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $100,100 in Monroeville, the typical annual property tax bill amounts to $411, well below the national median of $2,690. Property taxes in Monroeville are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Monroeville'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 Monroeville or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Monroeville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$360
Ownwell’s Monroeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroeville 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 Monroeville, Alabama
Property taxes in Monroeville, Alabama, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroeville is 0.36%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Monroeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monroeville 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 Monroeville's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Monroeville provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monroeville Tax Rate
0.36%
Average Monroe County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroeville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36460 | 0.21% | 0.27% | 0.36% | 0.62% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Monroeville, Alabama
In Monroeville, 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 local authorities 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 Monroeville, 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 Monroeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Monroeville are both $411, found in the 36460 zip code.
Average Monroeville Assessed Value
$100,100
Average Monroe County Assessed Value
$87,150
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroeville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36460 | $34,014 | $58,680 | $100,100 | $159,245 | $233,514 |
Source: Ownwell
Property Tax Bills Across Monroeville, Alabama
In Monroeville, Monroe County, AL, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, determined by local tax assessors. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $100,100 in Monroeville, homeowners can expect tax bills that vary significantly. The 25th percentile tax bill is around $230, while the 75th percentile reaches approximately $643, and the 90th percentile can go up to $935. These tax bills impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Monroeville's tax rates can offer some relief, making it potentially more affordable for property owners. However, the variation in tax bills also means that homeowners need to be aware of how their property's assessed value and local tax rates can affect their annual financial obligations.
Average Monroeville Tax Bill
$411
Average Monroe County Tax Bill
$316
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroeville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36460 | $116 | $230 | $411 | $643 | $935 |
Source: Ownwell