Waverly, Alabama Property Taxes
The median property tax rate in Waverly, AL is 0.47%, aligning with the state median but significantly lower than the national median of 0.99%. With a median home value of $91,015, the typical annual property tax bill in Waverly amounts to $616, which is considerably less than the national median of $2,690. Property taxes in Waverly are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Waverly's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of Waverly or another part of Chambers County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waverly, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$428
Ownwell’s WAVERLY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WAVERLY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WAVERLY 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 Waverly, Alabama
Property taxes in Waverly, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waverly is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Waverly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waverly 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 Waverly's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36879 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Waverly 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 Waverly Tax Rate
0.47%
Average Chambers County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waverly, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36879 | 0.25% | 0.35% | 0.47% | 0.95% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Waverly, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waverly, Alabama. 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. In Waverly, 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 highest and lowest median tax bills are both $616, found in the 36879 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waverly Assessed Value
$91,015
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 Waverly, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36879 | $20,816 | $42,798 | $91,015 | $216,252 | $332,573 |
Source: Ownwell
Property Tax Bills Across Waverly, Alabama
In Waverly, located in Chambers County, AL, property tax bills are determined by a combination of the assessed value of the property and the applicable tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Waverly, the median home price stands at $91,015. The property tax rate in this area is relatively low compared to the national median of 0.99%. Consequently, homeowners can expect varying tax bills based on their property's assessed value. For instance, tax bills range from the 25th percentile at $219 to the 75th percentile at $758, with the 90th percentile reaching up to $1,154. This range indicates that while some homeowners may pay a modest amount, others could see higher bills depending on their property's value. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Waverly Tax Bill
$616
Average Chambers County Tax Bill
$448
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Waverly, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36879 | $131 | $219 | $616 | $758 | $1,154 |
Source: Ownwell