Valley, Alabama Property Taxes
The median property tax rate in Valley, AL is 0.39%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $83,820 in Valley, the typical annual property tax bill is $414, well below the national median of $2,690. Property taxes in Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Valley'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 Valley or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valley, 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 Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley 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 Valley, Alabama
Property taxes in Valley, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley is 0.39%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley 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 Valley's effective property tax rate to other areas in Alabama and the national median. For comparison, the zip code 36801 has the highest median property tax rate of 0.85%, while zip code 36804 has the lowest median tax rate of 0.85%. Understanding how these areas compare with Valley provides valuable insights into the varying tax landscape across Chambers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valley Tax Rate
0.39%
Average Chambers County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36801 | 0.74% | 0.78% | 0.85% | 0.86% | 0.86% |
| 36804 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| 36854 | 0.31% | 0.35% | 0.39% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Valley, Alabama
In Valley, 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 Chambers 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. Assessment notices in Valley 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 Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 36854 at $415, while the lowest is 36804 at $268.
Average Valley Assessed Value
$83,820
Average Chambers County Assessed Value
$84,510
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36801 | $15,666 | $24,750 | $39,890 | $48,705 | $53,994 |
| 36804 | $8,639 | $17,968 | $31,535 | $44,140 | $51,736 |
| 36854 | $32,439 | $54,300 | $83,880 | $132,620 | $193,187 |
Source: Ownwell
Property Tax Bills Across Valley, Alabama
In Valley, located in Chambers County, AL, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. Factors influencing the assessed value include property size, location, and condition. For homeowners in Valley, property taxes can vary significantly. The 25th percentile tax bill is $253, while the 75th percentile tax bill reaches $647. The highest median tax bill in the area is $415 in zip code 36854, whereas the lowest is $268 in zip code 36804. These figures highlight the variability in tax burdens across different neighborhoods. Compared to the national median property tax rate of 0.99%, Valley's rates offer a relatively moderate impact on homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Valley Tax Bill
$414
Average Chambers County Tax Bill
$448
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36801 | $134 | $211 | $340 | $375 | $396 |
| 36804 | $73 | $153 | $268 | $375 | $440 |
| 36854 | $132 | $253 | $415 | $648 | $935 |
Source: Ownwell