Coatopa, Alabama Property Taxes
The median property tax rate in Coatopa, Alabama is 0.37%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $41,600 in Coatopa, the typical annual property tax bill amounts to $213, which is well below the national median of $2,690. Property taxes in Coatopa are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Coatopa'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 Coatopa or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coatopa, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$154
Ownwell’s COATOPA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COATOPA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COATOPA 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 Coatopa, Alabama
Property taxes in Coatopa, Alabama, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Coatopa is 0.37%, which is significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Coatopa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coatopa 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 Coatopa's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the region is found in ZIP code 35203 at 0.54%, while the lowest median tax rate is in ZIP code 36728 at 0.18%. Understanding how these cities compare with Coatopa 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 Coatopa 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 Coatopa, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35470 | 0.27% | 0.34% | 0.37% | 0.38% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Coatopa, Alabama
In Coatopa, 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. In Coatopa, 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 Coatopa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Coatopa, both at $213, are found in the 35470 zip code, reflecting a relatively consistent tax burden across the area.
Average Coatopa Assessed Value
$41,600
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 Coatopa, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35470 | $23,020 | $30,850 | $41,600 | $93,100 | $105,520 |
Source: Ownwell
Property Tax Bills Across Coatopa, Alabama
In Coatopa, located in Sumter County, AL, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. For homeowners in Coatopa, the median home price is $41,600. Property tax bills can vary significantly, with the 25th percentile tax bill being $164 and the 75th percentile reaching $327. The 90th percentile tax bill stands at $373, indicating that most homeowners pay within this range. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Coatopa experience relatively lower tax bills, which can be beneficial for managing household budgets. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Coatopa Tax Bill
$213
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Coatopa, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35470 | $102 | $164 | $213 | $327 | $373 |
Source: Ownwell