Randolph, Alabama Property Taxes
The median property tax rate in Randolph, Alabama is 0.24%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Randolph at $85,600, the typical annual property tax bill is $187, far below the national median of $2,690. Property taxes in Randolph 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 Randolph'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 Randolph 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
Randolph, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Alabama
Property taxes in Randolph, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 0.24%, which is significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph'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 found in Shelby County at 0.44%, while the lowest is in Crenshaw County at 0.16%. Understanding how these cities compare with Randolph 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 Randolph Tax Rate
0.24%
Average Bibb County Tax Rate
0.26%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36792 | 0.15% | 0.19% | 0.24% | 0.27% | 0.29% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Randolph, Bibb County, Alabama. 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 local 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 Randolph, 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 instance, the median home price in Randolph is $85,600, with tax bills ranging from $105 at the 25th percentile to $561 at the 90th percentile. 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Randolph Assessed Value
$85,600
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 Randolph, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36792 | $24,920 | $51,500 | $85,600 | $156,525 | $232,780 |
Source: Ownwell
Property Tax Bills Across Randolph, Alabama
In Randolph, located in Bibb 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 Randolph is $85,600. Homeowners can expect their tax bill to fall within a range, with the 25th percentile at $105 and the 75th percentile at $353. For those in the 90th percentile, the tax bill can reach up to $561. The highest and lowest median tax bills in the area are both $187, indicating a relatively uniform tax rate across different properties. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. This system ensures that tax obligations are proportionate to property values, impacting homeowners by tying tax expenses directly to their property's market worth. Compared to the national median property tax rate of 0.99%, Randolph's property tax rates are relatively modest, providing homeowners with a more manageable tax burden.
Average Randolph Tax Bill
$187
Average Bibb County Tax Bill
$224
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36792 | $48 | $105 | $187 | $353 | $561 |
Source: Ownwell