Montevallo, Alabama Property Taxes
The median property tax rate in Montevallo, AL is 0.22%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Montevallo at $38,000, the typical annual property tax bill is just $93, far below the national median of $2,690. Property taxes in Montevallo are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Montevallo'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 Montevallo 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
Montevallo, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$84
$78
Ownwell’s Montevallo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montevallo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montevallo 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 Montevallo, Alabama
Property taxes in Montevallo, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montevallo is 0.22%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Montevallo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montevallo 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 Montevallo's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the state is significantly higher, while some areas have rates even lower than Montevallo's 0.22%. Understanding how these cities compare with Montevallo provides valuable insights into the varying tax landscape across Bibb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montevallo Tax Rate
0.22%
Average Bibb County Tax Rate
0.26%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montevallo, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35115 | 0.11% | 0.17% | 0.22% | 0.29% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Montevallo, Alabama
In Montevallo, 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 Bibb 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 Montevallo, 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. For example, the 25th percentile of tax bills is $39, while the 75th percentile is $160, and the 90th percentile reaches $287. 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 Montevallo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montevallo Assessed Value
$38,000
Average Bibb County Assessed Value
$88,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montevallo, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35115 | $5,780 | $22,800 | $38,000 | $79,050 | $95,760 |
Source: Ownwell
Property Tax Bills Across Montevallo, Alabama
In Montevallo, located in Bibb County, AL, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in this area is $38,000, and the property tax rate is applied to this assessed value to determine your annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax amount. Homeowners in Montevallo can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $39, while at the 75th percentile, it rises to $160. At the 90th percentile, homeowners might see a tax bill of up to $287. These figures suggest that while some homeowners pay relatively low property taxes, others pay considerably more, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Montevallo's property taxes can be quite manageable for many residents, offering a more affordable living option.
Average Montevallo Tax Bill
$93
Average Bibb County Tax Bill
$224
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Montevallo, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35115 | $18 | $39 | $93 | $160 | $287 |
Source: Ownwell