Bay Minette, Alabama Property Taxes
The median property tax rate in Bay Minette, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $133,100 in Bay Minette, the typical annual property tax bill is $447, well below the national median of $2,690. Property taxes in Bay Minette 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 Bay Minette'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 Bay Minette or another part of Baldwin County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bay Minette, 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 Bay Minette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bay Minette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bay Minette 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 Bay Minette, Alabama
Property taxes in Bay Minette, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bay Minette is 0.30%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Bay Minette set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bay Minette 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. Understanding how Bay Minette's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Baldwin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bay Minette Tax Rate
0.30%
Average Baldwin County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bay Minette, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36507 | 0.21% | 0.27% | 0.30% | 0.43% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Bay Minette, Alabama
In Bay Minette, 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 Baldwin 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 Bay Minette 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. Bay Minette has a median home price of $133,100, and the median tax bill ranges from $240 at the 25th percentile to $1,023 at the 90th percentile. The zip code 36507 has both the highest and lowest median tax bill of $447. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bay Minette Assessed Value
$133,100
Average Baldwin County Assessed Value
$254,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bay Minette, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36507 | $38,300 | $68,700 | $133,100 | $204,400 | $303,000 |
Source: Ownwell
Property Tax Bills Across Bay Minette, Alabama
In Bay Minette, Baldwin County, AL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Bay Minette, the median home price is $133,100. Property taxes here are relatively low compared to the national median property tax rate of 0.99%. Homeowners in the 25th percentile can expect to pay around $240 annually, while those in the 75th percentile might see tax bills closer to $700. At the higher end, the 90th percentile tax bill reaches approximately $1,023. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding how these taxes are calculated helps homeowners budget accordingly and appreciate the value they contribute to maintaining and improving their local area.
Average Bay Minette Tax Bill
$447
Average Baldwin County Tax Bill
$967
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Bay Minette, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36507 | $118 | $240 | $447 | $700 | $1,023 |
Source: Ownwell