Gainesville, Alabama Property Taxes
The median property tax rate in Gainesville, 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 Gainesville at $66,605, the typical annual property tax bill is $259, well below the national median of $2,690. Property taxes in Gainesville 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 Gainesville'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 Gainesville 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
Gainesville, 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 Gainesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gainesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gainesville 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 Gainesville, Alabama
Property taxes in Gainesville, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainesville is 0.37%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Gainesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gainesville 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 Gainesville'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 0.42%, while the lowest median tax rate is in Crenshaw County at 0.29%. Understanding how these cities compare with Gainesville 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 Gainesville 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 Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | 0.19% | 0.29% | 0.37% | 0.42% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Gainesville, Alabama
In Gainesville, 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 Gainesville, 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. The median home price in Gainesville is $66,605, with tax bills varying significantly. For instance, the 25th percentile tax bill is $88, while the 75th percentile tax bill is $521, and the 90th percentile tax bill reaches $899. The highest and lowest median tax bills are both $259, found in the 35464 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gainesville Assessed Value
$66,605
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 Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | $12,750 | $33,500 | $66,605 | $132,862 | $227,600 |
Source: Ownwell
Property Tax Bills Across Gainesville, Alabama
In Gainesville, Sumter County, Alabama, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Gainesville is $66,605. Homeowners here can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $88, while at the 75th percentile, it rises to $521. The 90th percentile tax bill can reach up to $899. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions. The assessed value is determined by the local tax assessor and represents a fraction of the market value. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Compared to the national median property tax rate of 0.99%, Gainesville's property tax rates can be seen as relatively moderate, providing some relief to homeowners. However, understanding these factors is crucial for homeowners to anticipate their financial obligations accurately.
Average Gainesville Tax Bill
$259
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | $50 | $88 | $259 | $521 | $899 |
Source: Ownwell