Fort Deposit, Alabama Property Taxes
The median property tax rate in Fort Deposit, Alabama is 0.27%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Fort Deposit at $93,700, the typical annual property tax bill is $260, far below the national median of $2,690. Property taxes in Fort Deposit are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fort Deposit'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 Fort Deposit or another part of Butler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Deposit, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$253
$235
Ownwell’s Fort Deposit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Deposit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Deposit 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 Fort Deposit, Alabama
Property taxes in Fort Deposit, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Deposit is 0.27%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Fort Deposit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Deposit 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 Fort Deposit'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 0.33%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Fort Deposit provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Deposit Tax Rate
0.27%
Average Butler County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Deposit, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36032 | 0.16% | 0.21% | 0.27% | 0.30% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Fort Deposit, Alabama
In Fort Deposit, 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 Butler 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 Fort Deposit, 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 Fort Deposit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the 36032 zip code, the median tax bill is $260, reflecting the typical property tax scenario in the area.
Average Fort Deposit Assessed Value
$93,700
Average Butler County Assessed Value
$82,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Deposit, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36032 | $32,250 | $54,675 | $93,700 | $181,875 | $278,300 |
Source: Ownwell
Property Tax Bills Across Fort Deposit, Alabama
In Fort Deposit, property tax bills are calculated based on the assessed value of the home, which is a percentage of the property's market value. For instance, if the median home price is $93,700, a specific assessment ratio is applied to determine the assessed value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and any applicable exemptions also play a role in determining the final amount. Homeowners in Fort Deposit can expect tax bills that vary significantly. The tax bill at the 25th percentile is $137, while at the 75th percentile, it rises to $489. For those at the 90th percentile, the tax bill can reach up to $718. Compared to the national median property tax rate of 0.99%, Fort Deposit's rates may offer a relatively lower burden, potentially making homeownership more affordable. This variability in tax bills can influence decisions on buying or retaining property in the area.
Average Fort Deposit Tax Bill
$260
Average Butler County Tax Bill
$283
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Deposit, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36032 | $61 | $137 | $260 | $489 | $718 |
Source: Ownwell