Montrose, Alabama Property Taxes
The median property tax rate in Montrose, AL is 0.31%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Montrose, the typical annual property tax bill reaches $1,181, which is well below the national median of $2,690. Property taxes in Montrose 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 Montrose'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 Montrose 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
Montrose, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$1,159
$1,076
Ownwell’s Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Alabama
Property taxes in Montrose, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 0.31%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's 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 Montrose Tax Rate
0.31%
Average Baldwin County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montrose, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36559 | 0.17% | 0.24% | 0.31% | 0.31% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Alabama
In Montrose, 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 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Montrose, the zip code with the highest and lowest median tax bill is 36559, with a median tax bill of $1181.
Average Montrose Assessed Value
$373,900
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 Montrose, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36559 | $71,500 | $170,100 | $373,900 | $686,100 | $1,270,180 |
Source: Ownwell
Property Tax Bills Across Montrose, Alabama
In Montrose, located in Baldwin County, AL, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $373,900, the tax bill can vary significantly. At the 25th percentile, homeowners might expect a tax bill around $513, while those at the 75th percentile could see bills up to $1,887. At the higher end, the 90th percentile tax bill can reach $3,269. Factors influencing these variations include property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Montrose's rates can be relatively modest, offering potential savings for homeowners. However, understanding these factors and their impact on the tax bill is crucial for effective financial planning and property investment. With the highest and lowest median tax bills both at $1,181 in the 36559 zip code, consistency in tax assessments can be observed within this region.
Average Montrose Tax Bill
$1,181
Average Baldwin County Tax Bill
$967
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36559 | $159 | $513 | $1,181 | $1,887 | $3,269 |
Source: Ownwell