Roanoke, Alabama Property Taxes
The median property tax rate in Roanoke, AL is 0.38%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value in Roanoke of $68,911, the typical annual property tax bill is $286, far below the national median of $2,690. Property taxes in Roanoke are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Roanoke'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 Roanoke 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
Roanoke, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$262
$243
Ownwell’s Roanoke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roanoke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roanoke 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 Roanoke, Alabama
Property taxes in Roanoke, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roanoke is 0.33%, which is significantly lower than the Alabama state median of 0.39% and the U.S. national median of 0.99%. Local government entities within Roanoke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roanoke 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. Understanding how Roanoke's effective property tax rate compares to other areas in Alabama and the national median 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 Roanoke Tax Rate
0.38%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roanoke, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36274 | 0.22% | 0.29% | 0.38% | 0.64% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Roanoke, Alabama
In Roanoke, 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 Roanoke, 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 Roanoke 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 36274, with a tax bill of $286, while the lowest is also in zip code 36274, indicating a consistent tax environment across the region.
Average Roanoke Assessed Value
$68,911
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 Roanoke, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36274 | $21,796 | $40,186 | $68,911 | $122,434 | $199,202 |
Source: Ownwell
Property Tax Bills Across Roanoke, Alabama
In Roanoke, located in Randolph County, AL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including the home's market value, local tax rates, and applicable exemptions. For homeowners in Roanoke, the median home price is $68,911. Property tax bills can vary significantly, with the 25th percentile at $159 and the 75th percentile at $486. At the 90th percentile, homeowners might see tax bills around $763. Comparatively, the highest and lowest median tax bills in the area are both $286, indicating a relatively consistent tax rate within specific zip codes. Understanding these calculations is crucial for homeowners, as property taxes can impact overall housing costs and financial planning. While the national median property tax rate is 0.99%, Roanoke's rates offer a unique perspective on how local factors influence tax obligations.
Average Roanoke Tax Bill
$286
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Roanoke, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36274 | $89 | $159 | $286 | $486 | $763 |
Source: Ownwell