Hatchechubbee, Alabama Property Taxes
The median property tax rate in Hatchechubbee, AL is 0.39%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $98,971, the typical annual property tax bill in Hatchechubbee is $449, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Understanding Hatchechubbee'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 Hatchechubbee or another part of Russell County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hatchechubbee, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Hatchechubbee Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Hatchechubbee with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hatchechubbee to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Hatchechubbee, Alabama
Property taxes in Hatchechubbee, Alabama, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Hatchechubbee is 0.39%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Hatchechubbee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatchechubbee 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 Hatchechubbee'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 one of its zip codes at 0.66%, while the lowest median tax rate in another zip code stands at 0.33%. Understanding how these cities compare with Hatchechubbee provides valuable insights into the varying tax landscape across Russell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hatchechubbee Tax Rate
0.39%
Average Russell County Tax Rate
0.55%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatchechubbee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36858 | 0.22% | 0.36% | 0.39% | 0.77% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Hatchechubbee, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hatchechubbee, Russell County, Alabama. 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 Russell 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. 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. In Hatchechubbee, the median home price is $98,971, with tax bills ranging from $243 at the 25th percentile to $1,068 at the 90th percentile. The zip code 36858 has the highest and lowest median tax bill at $449. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hatchechubbee Assessed Value
$98,971
Average Russell County Assessed Value
$115,149
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hatchechubbee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36858 | $28,419 | $49,881 | $98,971 | $192,601 | $322,081 |
Source: Ownwell
Property Tax Bills Across Hatchechubbee, Alabama
In Hatchechubbee, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $98,971, the tax bill can vary significantly. Factors such as the property’s location within Russell County, local tax rates, and any applicable exemptions play crucial roles in determining the final amount. Homeowners in the 25th percentile can expect a tax bill around $243, while those in the 75th percentile might see a bill closer to $755. For properties in the 90th percentile, tax bills can reach up to $1,068. The highest median tax bill in the area is $449, which is notably lower than the national median property tax rate of 0.99%. These variations can significantly impact homeowners, influencing both their monthly budgets and long-term financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Hatchechubbee Tax Bill
$449
Average Russell County Tax Bill
$625
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatchechubbee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36858 | $111 | $243 | $449 | $755 | $1,068 |
Source: Ownwell