Fairhope, Alabama Property Taxes
The median property tax rate in Fairhope, AL is 0.44%, which is significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $338,600 in Fairhope, the typical annual property tax bill comes to $1,428, well below the national median of $2,690. Property taxes in Fairhope 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 Fairhope'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 Fairhope or another part of Baldwin County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairhope, 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 Fairhope Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairhope with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairhope 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 Baldwin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fairhope, Alabama
Property taxes in Fairhope, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairhope is 0.44%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Fairhope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairhope 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 Fairhope's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36532 has both the highest and the lowest median property tax rate of 0.44%. Understanding how these cities compare with Fairhope 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 Fairhope Tax Rate
0.44%
Average Baldwin County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairhope, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36532 | 0.24% | 0.30% | 0.44% | 0.46% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Fairhope, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairhope, Alabama. 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. In Fairhope, 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 Fairhope helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 36532 has both the highest and lowest median tax bills, with the median bill at $1,428.
Average Fairhope Assessed Value
$338,600
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 Fairhope, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36532 | $169,900 | $239,600 | $338,500 | $492,850 | $718,120 |
Source: Ownwell
Property Tax Bills Across Fairhope, Alabama
In Fairhope, located in Baldwin County, AL, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors influencing the tax bill include the home's market value, which in Fairhope has a median price of $338,600, and the specific tax rate applied in Baldwin County. Homeowners in Fairhope can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is around $906, while the 75th percentile reaches approximately $2,155. For those at the 90th percentile, the tax bill can go up to $3,279. These figures illustrate the range of property tax burdens homeowners might face. Compared to the national median property tax rate of 0.99%, Fairhope's property tax rate offers a practical perspective on how local property taxes can impact homeowners financially.
Average Fairhope Tax Bill
$1,428
Average Baldwin County Tax Bill
$967
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairhope, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36532 | $563 | $906 | $1,428 | $2,156 | $3,280 |
Source: Ownwell