Honoraville, Alabama Property Taxes
The median property tax rate in Honoraville, AL is 0.28%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $87,900 in Honoraville, the typical annual property tax bill amounts to $233, which is well below the national median of $2,690. Property taxes in Honoraville are calculated based on the assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Honoraville'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 Honoraville 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
Honoraville, 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 Honoraville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honoraville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honoraville 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 Honoraville, Alabama
Property taxes in Honoraville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honoraville is 0.28%, significantly lower than the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Honoraville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honoraville 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 Honoraville'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 0.43%, while the lowest is in Crenshaw County at 0.16%. Understanding how these cities compare with Honoraville 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 Honoraville Tax Rate
0.28%
Average Butler County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | 0.17% | 0.21% | 0.28% | 0.30% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Honoraville, Alabama
In Honoraville, 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 Honoraville, 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 Honoraville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 36042 has both the highest and lowest median tax bill at $233.
Average Honoraville Assessed Value
$87,900
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 Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | $32,600 | $54,775 | $87,900 | $142,375 | $209,250 |
Source: Ownwell
Property Tax Bills Across Honoraville, Alabama
In Honoraville, located in Butler County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value of the property, which is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Honoraville is $87,900. Tax bills can vary significantly, with the 25th percentile at $152 and the 75th percentile at $393, indicating that most homeowners pay within this range. At the higher end, the 90th percentile tax bill reaches $614. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Honoraville benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. However, even within this small community, tax bills can vary based on the assessed value of individual properties, making it crucial for homeowners to understand how their tax bill is determined and to explore potential exemptions or appeals if they believe their assessment is incorrect.
Average Honoraville Tax Bill
$233
Average Butler County Tax Bill
$283
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Honoraville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36042 | $72 | $152 | $233 | $393 | $614 |
Source: Ownwell