Arab, Alabama Property Taxes
The median property tax rate in Arab, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $326,450 in Arab, the typical annual property tax bill amounts to $1,289, which is well below the national median of $2,690. Property taxes in Arab are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Arab'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 Arab or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arab, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$1,143
Ownwell’s Arab Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in Arab with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arab 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 Arab, Alabama
Property taxes in Arab, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arab is 0.35%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Arab set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arab 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 Arab'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 found in Jefferson County at 0.66%, while the lowest is in Crenshaw County at 0.31%. Understanding how these cities compare with Arab provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arab Tax Rate
0.35%
Average Morgan County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arab, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35016 | 0.30% | 0.33% | 0.35% | 0.37% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Arab, Alabama
In Arab, 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 local 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 Arab, 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 Arab 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 35016, with a median tax bill of $1,289.
Average Arab Assessed Value
$326,450
Average Morgan County Assessed Value
$149,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arab, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35016 | $102,130 | $144,350 | $326,450 | $544,625 | $812,550 |
Source: Ownwell
Property Tax Bills Across Arab, Alabama
In Arab, Morgan 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 Arab is $326,450. Property tax rates vary, but the national median rate is 0.99%. Factors such as the home's size, location, and condition are considered when determining its market value, which in turn affects the assessed value used for tax purposes. Homeowners in Arab can expect a wide range of property tax bills. For instance, the tax bill at the 25th percentile is $584, while at the 75th percentile, it rises to $1,879. At the higher end, the 90th percentile tax bill can reach up to $4,185. The median tax bill in Arab's 35016 ZIP code stands at $1,289. These property taxes fund local services such as schools, roads, and emergency services, directly impacting the community's quality of life. Therefore, understanding how property tax bills are calculated helps homeowners anticipate their financial obligations better.
Average Arab Tax Bill
$1,289
Average Morgan County Tax Bill
$697
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Arab, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35016 | $425 | $584 | $1,289 | $1,879 | $4,185 |
Source: Ownwell