Louisville, Alabama Property Taxes
The median property tax rate in Louisville, Alabama 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 $65,600 in Louisville, the typical annual property tax bill is $263, well below the national median of $2,690. Property taxes in Louisville 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 Louisville'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 Louisville or another part of Barbour County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$197
$183
Ownwell’s Louisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Louisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisville 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 Louisville, Alabama
Property taxes in Louisville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisville is 0.30%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Louisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisville 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 Louisville'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 0.66%, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Louisville provides valuable insights into the varying tax landscape across Barbour County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisville Tax Rate
0.30%
Average Barbour County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36048 | 0.19% | 0.24% | 0.30% | 0.59% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Alabama
In Louisville, 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 Barbour 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 Louisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Louisville, the median home price is $65,600. The 25th percentile tax bill is $134, while the 75th percentile tax bill is $441. The 90th percentile tax bill can reach up to $705. The highest median tax bill is $263 in the 36048 zip code, which is also the lowest median tax bill.
Average Louisville Assessed Value
$65,600
Average Barbour County Assessed Value
$82,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36048 | $21,790 | $41,125 | $65,600 | $128,575 | $201,780 |
Source: Ownwell
Property Tax Bills Across Louisville, Alabama
In Louisville, Barbour County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Louisville is $65,600. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill being $134 and the 75th percentile reaching $441. Some homeowners may even see tax bills as high as $705, which falls in the 90th percentile. Several factors influence these tax bills, including the home's assessed value and the local tax rate. The assessed value is determined by the county assessor and is typically a fraction of the market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. High property taxes can pose a financial burden on homeowners, particularly those on fixed incomes or with limited financial resources. Comparing this to the national median property tax rate of 0.99%, homeowners in Louisville might find their tax bills more manageable, depending on the assessed value of their property.
Average Louisville Tax Bill
$263
Average Barbour County Tax Bill
$360
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36048 | $77 | $134 | $263 | $441 | $705 |
Source: Ownwell