Newell, Alabama Property Taxes
The median property tax rate in Newell, AL is 0.28%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Newell at $91,950, the typical annual property tax bill reaches $267, significantly below the national median of $2,690. Property taxes in Newell 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 Newell'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 Newell or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newell, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$257
Ownwell’s Newell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newell 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 Newell, Alabama
Property taxes in Newell, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newell is 0.28%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Newell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newell 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 Newell'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 found in Jefferson County with a rate of 0.66%, while the lowest median tax rate is in Choctaw County at 0.18%. Understanding how these cities compare with Newell provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newell Tax Rate
0.28%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | 0.15% | 0.23% | 0.28% | 0.32% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Newell, Alabama
In Newell, 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 Randolph 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 Newell, 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 example, the highest median tax bill in Newell is $267 in the 36280 zip code. 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 Newell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newell Assessed Value
$91,950
Average Randolph County Assessed Value
$99,646
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | $33,821 | $54,481 | $91,950 | $164,643 | $262,911 |
Source: Ownwell
Property Tax Bills Across Newell, Alabama
In Newell, Randolph County, Alabama, 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 Newell is $91,950. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Newell, the 25th percentile of property tax bills is around $157, while the 75th percentile is approximately $484. The 90th percentile reaches up to $814, reflecting higher-valued properties. Compared to the national median property tax rate of 0.99%, Newell's rates can be considered relatively moderate. The consistency in tax bills, with the highest and lowest median tax bills both at $267 in the 36280 zip code, indicates a level of predictability for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Newell Tax Bill
$267
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Newell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | $90 | $157 | $267 | $484 | $814 |
Source: Ownwell