Little River, Alabama Property Taxes
The median property tax rate in Little River, AL is 0.26%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $124,200 in Little River, the typical annual property tax bill amounts to $284, well below the national median of $2,690. Property taxes in Little River are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Little River'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 Little River 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
Little River, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$323
Ownwell’s Little River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little River 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 Little River, Alabama
Property taxes in Little River, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little River is 0.26%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Little River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little River 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 Little River'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 0.41%, while the lowest median tax rate is in Crenshaw County at 0.18%. Understanding how these cities compare with Little River 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 Little River Tax Rate
0.26%
Average Baldwin County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little River, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36550 | 0.11% | 0.17% | 0.26% | 0.31% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Little River, Alabama
In Little River, 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. In Little River, 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 Little River is $124,200, with tax bills ranging from $126 at the 25th percentile to $929 at the 90th percentile. The highest and lowest median tax bills in the area are both $284, found in the 36550 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Little River Assessed Value
$124,200
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 Little River, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36550 | $32,360 | $63,550 | $124,200 | $205,600 | $340,560 |
Source: Ownwell
Property Tax Bills Across Little River, Alabama
In Little River, 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 median home price in Little River is $124,200. Property taxes are then determined by applying the local tax rate to the assessed value. In this area, the tax bills can vary significantly. For instance, the 25th percentile tax bill is $126, while the 75th percentile tax bill is $509, and the 90th percentile tax bill reaches $929. This variance is influenced by factors such as property size, location, and any applicable exemptions or deductions. Homeowners in Little River might find their tax bills to be relatively reasonable compared to the national median property tax rate of 0.99%. However, understanding these factors is crucial for budgeting and financial planning, as property taxes directly impact the overall cost of homeownership.
Average Little River Tax Bill
$284
Average Baldwin County Tax Bill
$967
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Little River, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36550 | $65 | $126 | $284 | $509 | $929 |
Source: Ownwell