Bessemer, Alabama Property Taxes
The median property tax rate in Bessemer, AL is 0.23%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Bessemer at $34,000, the typical annual property tax bill reaches just $78, far below the national median of $2,690. Property taxes in Bessemer are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Bessemer’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 Bessemer or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bessemer, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.23%
Estimate Property Tax Bill
$78
Ownwell’s Bessemer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bessemer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bessemer 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 Bessemer, Alabama
Property taxes in Bessemer, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bessemer is 0.23%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bessemer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bessemer 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 Bessemer'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 Shelby County at 0.33%, while the lowest median tax rate is in Crenshaw County at 0.18%. Understanding how these cities compare with Bessemer provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bessemer Tax Rate
0.23%
Average St. Clair County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35023 | 0.23% | 0.23% | 0.23% | 0.23% | 0.23% |
Source: Ownwell
Property Tax Assessment Values Across Bessemer, Alabama
In Bessemer, 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 St. Clair 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 Bessemer, 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 Bessemer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bessemer is $34,000, with tax bills ranging from $78 at the 25th percentile to $78 at the 90th percentile.
Average Bessemer Assessed Value
$34,000
Average St. Clair County Assessed Value
$169,020
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35023 | $34,000 | $34,000 | $34,000 | $34,000 | $34,000 |
Source: Ownwell
Property Tax Bills Across Bessemer, Alabama
In Bessemer, located in St. Clair County, Alabama, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is determined by the county tax assessor and typically reflects a fraction of the property's market value. For homeowners in Bessemer, the median home price is $34,000. Property taxes are then calculated by applying the local tax rate to the assessed value. In this region, the median property tax bill is notably lower than the national median property tax rate of 0.99%. Specifically, tax bills at the 25th, 75th, and 90th percentiles are all $78, indicating a relatively consistent and low tax burden for homeowners. This lower tax rate can make homeownership more affordable, but it's essential for homeowners to understand that the assessed value and corresponding tax bill can fluctuate based on changes in the property's market value and any adjustments in the local tax rate.
Average Bessemer Tax Bill
$78
Average St. Clair County Tax Bill
$648
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bessemer, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35023 | $78 | $78 | $78 | $78 | $78 |
Source: Ownwell