Lisman, Alabama Property Taxes
The median property tax rate in Lisman, AL is 0.25%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $69,000 in Lisman, the typical annual property tax bill is $184, far below the national median of $2,690. Property taxes in Lisman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lisman'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 Lisman 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
Lisman, 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 Lisman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lisman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lisman 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 Lisman, Alabama
Property taxes in Lisman, Alabama, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisman is 0.25%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Lisman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisman 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 Lisman's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Lisman 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 Lisman Tax Rate
0.25%
Average Sumter County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | 0.14% | 0.19% | 0.25% | 0.29% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Lisman, Alabama
In Lisman, 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 Lisman, 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. The median home price in Lisman is $69,000, with tax bills ranging from the 25th percentile at $126 to the 90th percentile at $562. The zip code 36912 has both the highest and lowest median tax bills at $184. Being aware of these valuation processes in Lisman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lisman Assessed Value
$69,000
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 Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | $47,390 | $58,600 | $69,000 | $114,200 | $209,080 |
Source: Ownwell
Property Tax Bills Across Lisman, Alabama
In Lisman, Sumter County, AL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $69,000, homeowners can expect varying tax bills. The tax bill for the 25th percentile is around $126, while the 75th percentile sees bills closer to $374, and the 90th percentile reaches up to $562. The highest and lowest median tax bills in the area are both $184, occurring in the 36912 zip code. These tax bills can significantly impact homeowners, influencing their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Lisman's rates are relatively moderate, offering some financial relief to property owners. Understanding these calculations helps homeowners anticipate their expenses and manage their finances effectively.
Average Lisman Tax Bill
$184
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lisman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36912 | $93 | $126 | $184 | $374 | $562 |
Source: Ownwell