Selma, Alabama Property Taxes
The median property tax rate in Selma, AL is 0.40%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Selma, the typical annual property tax bill reaches $324, far below the national median of $2,690. Property taxes in Selma 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 Selma'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 Selma 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
Selma, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$389
Ownwell’s Selma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Selma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Selma 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 Selma, Alabama
Property taxes in Selma, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Selma is 0.40%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Selma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Selma 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 Selma's effective property tax rate to other areas in Alabama and the national median. For comparison, the zip code 36701 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Selma provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Selma Tax Rate
0.40%
Average Perry County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | 0.15% | 0.23% | 0.40% | 0.47% | 0.94% |
| 36703 | 0.25% | 0.27% | 0.29% | 0.45% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Selma, Alabama
In Selma, 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 Perry 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 Selma, 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. For example, the highest median tax bill in Selma is $337 in zip code 36701, while the lowest is $232 in zip code 36703. Being aware of these valuation processes in Selma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Selma Assessed Value
$97,365
Average Perry County Assessed Value
$74,720
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | $21,440 | $42,760 | $98,340 | $171,870 | $296,490 |
| 36703 | $27,288 | $30,570 | $70,760 | $78,940 | $90,310 |
Source: Ownwell
Property Tax Bills Across Selma, Alabama
In Selma, 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 Selma is $97,365. Homeowners can expect their property tax bill to fall within a range, with the 25th percentile at $146 and the 75th percentile at $650. For those in the 90th percentile, the tax bill can reach up to $1,130. The highest median tax bill recorded in the area is $337 in the 36701 zip code, while the lowest is $232 in the 36703 zip code. These figures are influenced by various factors, including local tax rates, property values, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Selma’s rates can significantly impact homeowners, making it crucial to understand how these taxes are calculated and how they can vary across different neighborhoods. This variability can affect overall affordability and long-term financial planning for residents.
Average Selma Tax Bill
$324
Average Perry County Tax Bill
$333
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Selma, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36701 | $54 | $146 | $337 | $658 | $1,147 |
| 36703 | $120 | $190 | $232 | $247 | $267 |
Source: Ownwell