Banks, Barbour County, Alabama Property Taxes

Name: Property Tax Bills Across Banks, Barbour County, Alabama
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Banks, AL effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but higher than the Alabama state median of 0.47%.
Median Banks, AL home value: $50,800
Median annual Banks, AL tax bill: $215, $2,185 lower than the national median property tax bill of $2,400.

How are property taxes in Barbour calculated?

Property taxes in Banks, AL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Banks’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Banks, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Banks, Barbour County, Alabama Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.59%

Estimate Property Tax Bill

$300

$278

Ownwell’s Banks Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Banks with just two data points. By entering your property's estimated assessed value, our calculator applies Banks’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Barbour County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Banks, Barbour County, Alabama

Local government entities set tax rates, which can vary widely within a state. Why? Each year, counties estimate their required budget to provide services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Banks, located in Barbour County, Alabama, the effective property tax rate is notably lower than the national median, reflecting Alabama's overall trend of lower property tax rates. The median property tax rate in Alabama is significantly below the national median of 1.02%. This comparison highlights the variance in property tax burdens across different regions. While residents in Banks benefit from a lower tax rate, it's essential to consider the services funded by these taxes, which can differ significantly from those in regions with higher rates. By understanding these dynamics, property owners can make informed decisions and potentially explore property tax appeals or exemptions to ensure they are not overpaying.

Property Tax Rates Across Banks, Barbour County, Alabama

Source: Ownwell

0.23%

0.32%

0.41%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Banks Taxx Rate

0.59%

Median Effective Barbour County Taxx Rate

0.40%

Median Effective Alabama Tax Rate

0.47%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Banks, Barbour County, Alabama

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
36005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Banks, Barbour County, Alabama

When examining property taxes in Banks, Alabama, understanding the distinction between "market value" and "assessed value" is crucial. The market value represents what a willing buyer would pay to a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. The Barbour County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. This assessed value is then used to calculate your property taxes, essentially the amount multiplied by your tax rate to determine your tax bill. In Barbour County, assessment notices are sent in the spring each year, typically reaching your mailbox by mid-April. Each property owner receives an assessment notice containing both the market and assessed values, along with an estimate of the property tax bill. The median home price in Banks is $50,800, with tax bills ranging significantly across the county. Understanding these values helps property owners navigate their tax responsibilities and comprehend the valuation processes affecting their property taxes in Banks.

Property Tax Assessment Values Across Banks, Barbour County, Alabama

Source: Ownwell

$61,300

$86,775

$112,250

Median Banks Market Value

$50,800

Median Barbour County Market Value

$82,600

Median Alabama Market Value

$149,600

Median United States Market Value

$244,900

Property Tax Assessment Values Across Banks, Barbour County, Alabama

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
36005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Banks, Barbour County, Alabama

In Banks, Alabama, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in Barbour County experience a range in tax bills, with the 25th percentile at $94, the 75th percentile at $357, and the 90th percentile reaching $410. With a median home price of $50,800, these figures illustrate the variability in tax burdens across the area. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, homeowners in Banks generally face lower tax bills. However, understanding the factors that influence these assessments, such as property improvements or neighborhood changes, can be complex. This is where Ownwell steps in, offering expertise in property tax appeals and exemptions. By analyzing your property’s assessed value and ensuring it aligns with market conditions, we help homeowners potentially reduce their tax obligations. Our services aim to make the property tax process less daunting and more financially manageable for residents.

Property Tax Bills Across Banks, Barbour County, Alabama

Source: Ownwell

$178

$330

$481

Median Banks Tax Bill

$215

Median Barbour County Tax Bill

$360

Median Alabama Tax Bill

$717

Median United States Tax Bill

$2,690

Property Tax Bills Across Banks, Barbour County, Alabama

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
36005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell