Choccolocco, Alabama Property Taxes
The median property tax rate in Choccolocco, Alabama is 0.40%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Choccolocco at $162,720, the typical annual property tax bill is $468, well below the national median of $2,690. Property taxes in Choccolocco are calculated based on the assessed value, which often falls below market value due to exemptions such as those for primary residences and agricultural properties. Understanding Choccolocco'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 Choccolocco or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Choccolocco, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$651
Ownwell’s Choccolocco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Choccolocco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Choccolocco 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 Choccolocco, Alabama
Property taxes in Choccolocco, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Choccolocco is 0.40%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Choccolocco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Choccolocco 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 Choccolocco'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 median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Choccolocco provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Choccolocco Tax Rate
0.40%
Average Calhoun County Tax Rate
0.44%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Choccolocco, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36254 | 0.25% | 0.28% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Choccolocco, Alabama
In Choccolocco, 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 Calhoun 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 Choccolocco, 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. The median home price in Choccolocco is $162,720, with tax bills ranging from $378 at the 25th percentile to $1,460 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 Choccolocco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Choccolocco Assessed Value
$162,720
Average Calhoun County Assessed Value
$121,640
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Choccolocco, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36254 | $101,440 | $156,280 | $162,720 | $168,380 | $369,728 |
Source: Ownwell
Property Tax Bills Across Choccolocco, Alabama
In Choccolocco, property tax bills are calculated based on the assessed value of a home, which is determined by the Calhoun County tax assessor. The assessed value is a percentage of the market value of the property. For example, with a median home price of $162,720, the tax bill can vary significantly. Homeowners in the 25th percentile might see tax bills around $378, while those in the 75th percentile could face bills up to $625. At the 90th percentile, tax bills can reach as high as $1,460. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the median tax bill in Choccolocco, at $468, suggests a relatively moderate rate. This variation in tax bills affects homeowners by impacting their annual housing costs, influencing decisions on home purchases, and potentially affecting the local real estate market.
Average Choccolocco Tax Bill
$468
Average Calhoun County Tax Bill
$571
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Choccolocco, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36254 | $307 | $378 | $468 | $625 | $1,460 |
Source: Ownwell