Silverhill, Alabama Property Taxes
The median property tax rate in Silverhill, 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 $216,300 in Silverhill, the typical annual property tax bill is around $654, well below the national median of $2,690. Property taxes in Silverhill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Silverhill'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 Silverhill 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
Silverhill, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$649
$602
Ownwell’s Silverhill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silverhill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silverhill 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 Silverhill, Alabama
Property taxes in Silverhill, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverhill is 0.30%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Silverhill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silverhill 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 Silverhill's effective property tax rate compares to other areas in Baldwin County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Silverhill 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 Silverhill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36576 | 0.22% | 0.28% | 0.30% | 0.39% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Silverhill, Alabama
In Silverhill, 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 in Silverhill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 36576 has the highest and lowest median tax bill at $654.
Average Silverhill Assessed Value
$216,300
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 Silverhill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36576 | $83,400 | $150,850 | $216,300 | $272,300 | $392,900 |
Source: Ownwell
Property Tax Bills Across Silverhill, Alabama
In Silverhill, located in Baldwin County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Silverhill is $216,300. Homeowners can expect their tax bills to fall within a range, with the 25th percentile at $452, the 75th percentile at $900, and the 90th percentile reaching up to $1,378. These tax bills are influenced by various factors, including the assessed value of the property and the local tax rate. The highest and lowest median tax bills in the area are both recorded at $654, indicating a relatively consistent tax rate across different properties. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners by reflecting the economic value of their property in their annual tax obligations. Compared to the national median property tax rate of 0.99%, Silverhill's property taxes provide a balanced approach to funding local services while considering property values.
Average Silverhill Tax Bill
$654
Average Baldwin County Tax Bill
$967
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverhill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36576 | $253 | $452 | $654 | $900 | $1,378 |
Source: Ownwell