Bellamy, Alabama Property Taxes
The median property tax rate in Bellamy, Alabama is 0.37%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Bellamy, the typical annual property tax bill is $46, far below the national median of $2,690. Property taxes in Bellamy 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 Bellamy'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 Bellamy 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
Bellamy, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$61
Ownwell’s Bellamy Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Bellamy. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Bellamy to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities and plan accordingly. For those keen on exploring trends at a more granular level, additional localized information is available just a scroll away. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Bellamy, Alabama
Property taxes in Bellamy, Alabama, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellamy is 0.37%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bellamy set these rates annually, and they can vary considerably across different neighborhoods. Each year, Bellamy 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 Bellamy's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36907 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Bellamy provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellamy Tax Rate
0.37%
Average Sumter County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellamy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36901 | 0.14% | 0.28% | 0.37% | 0.38% | 0.75% |
| 36907 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| 36925 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Bellamy, Alabama
In Bellamy, 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 Sumter 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 in Bellamy 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. The highest median tax bill in Bellamy is $236.00 in the 36907 zip code, while the lowest is also $236.00 in the same zip code. Being aware of these valuation processes in Bellamy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bellamy Assessed Value
$16,550
Average Sumter County Assessed Value
$62,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellamy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36901 | $4,550 | $8,450 | $16,500 | $28,075 | $61,575 |
| 36907 | $31,600 | $31,600 | $31,600 | $31,600 | $31,600 |
| 36925 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Bellamy, Alabama
In Bellamy, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents a percentage of the home's market value. Homeowners in Bellamy can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $26, while at the 75th percentile, it rises to $107. At the 90th percentile, it can reach up to $200. The median home price in Bellamy is $16,550, which is considerably lower than the national median. This lower home value contributes to the relatively modest property tax bills compared to national averages. However, even within Bellamy, there can be variations, as seen in the highest median tax bill of $236 in the 36907 zip code. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners.
Average Bellamy Tax Bill
$46
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellamy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36901 | $13 | $26 | $46 | $105 | $196 |
| 36907 | $236 | $236 | $236 | $236 | $236 |
| 36925 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell