Burnwell, Alabama Property Taxes
The median property tax rate in Burnwell, Alabama is 0.34%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Burnwell, the typical annual property tax bill is $246, significantly lower than the national median of $2,690. Property taxes in Burnwell are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burnwell'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 Burnwell or another part of Walker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burnwell, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$233
Ownwell’s Burnwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnwell 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 Burnwell, Alabama
Property taxes in Burnwell, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnwell is 0.34%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Burnwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnwell 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 Burnwell'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 0.66%, while the lowest median tax rate is 0.29%. Understanding how these cities compare with Burnwell provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnwell Tax Rate
0.34%
Average Walker County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnwell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35038 | 0.16% | 0.26% | 0.34% | 0.49% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Burnwell, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Burnwell, Alabama. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Walker 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 Burnwell, 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 Burnwell is $68,550, with tax bills ranging from $156 at the 25th percentile to $766 at the 90th percentile. The zip code with the highest median tax bill is 35038, at $246. 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 their tax burden.
Average Burnwell Assessed Value
$68,550
Average Walker County Assessed Value
$97,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnwell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35038 | $21,640 | $52,750 | $68,550 | $121,500 | $268,820 |
Source: Ownwell
Property Tax Bills Across Burnwell, Alabama
In Burnwell, Walker County, AL, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For example, with a median home price of $68,550, homeowners can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $156, while at the 75th percentile, they rise to approximately $464. The highest tax bills, at the 90th percentile, can reach up to $766. These variations are influenced by factors such as property location, improvements, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Burnwell's tax rates are relatively modest, offering some financial relief to homeowners. However, understanding these calculations is crucial for effective financial planning and ensuring compliance with local tax laws.
Average Burnwell Tax Bill
$246
Average Walker County Tax Bill
$298
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnwell, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35038 | $53 | $156 | $246 | $464 | $766 |
Source: Ownwell