Oxford, Alabama Property Taxes
The median property tax rate in Oxford, AL is 0.47%, which aligns with the Alabama state median but is significantly lower than the national median of 0.99%. Given the median home value in Oxford, the typical annual property tax bill amounts to $718, which is well below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Oxford's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in Oxford or another part of Calhoun County, familiarizing yourself with the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Oxford, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$644
$598
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Oxford, Alabama
Property taxes in Oxford, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 0.47%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36203 zip code has the highest median property tax rate of 0.47%, while the 36203 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Oxford 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 Oxford Tax Rate
0.47%
Average Calhoun County Tax Rate
0.44%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36203 | 0.39% | 0.44% | 0.47% | 0.89% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Alabama
In Oxford, 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 Oxford, 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. For instance, the median home price in Oxford is $137,120, with tax bills ranging from $495 at the 25th percentile to $1,446 at the 90th percentile. The highest and lowest median tax bill, both at $718, are found in zip code 36203. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oxford Assessed Value
$137,120
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 Oxford, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36203 | $56,644 | $96,820 | $137,120 | $192,560 | $273,324 |
Source: Ownwell
Property Tax Bills Across Oxford, Alabama
In Oxford, located in Calhoun County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For example, a home with a median price of $137,120 will have its assessed value calculated accordingly. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. Several factors influence the final tax bill, including property location, size, and any applicable exemptions. For instance, in Oxford, the 25th percentile tax bill is around $495, while the 75th percentile tax bill reaches $1,055. At the 90th percentile, homeowners might see tax bills as high as $1,446. Compared to the national median property tax rate of 0.99%, Oxford's tax rates can vary significantly, affecting homeowners differently depending on their property's valuation and the specific tax rate applied. This variability underscores the importance of understanding local property tax dynamics for effective financial planning.
Average Oxford Tax Bill
$718
Average Calhoun County Tax Bill
$571
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36203 | $317 | $495 | $718 | $1,055 | $1,446 |
Source: Ownwell