Centre, Alabama Property Taxes
The median property tax rate in Centre, AL is 0.42%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $132,400 in Centre, the typical annual property tax bill amounts to $664, well below the national median of $2,690. Property taxes in Centre 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 Centre'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 Centre or another part of Cherokee County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Centre, 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 Centre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centre 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 Centre, Alabama
Property taxes in Centre, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centre is 0.42%, significantly lower than the U.S. national median of 0.99%. Local government entities within Centre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centre 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 Centre's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35960 has both the highest and lowest median property tax rate of 0.42%, matching Centre's rate. Understanding how these cities compare with Centre provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centre Tax Rate
0.42%
Average Cherokee County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centre, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35960 | 0.34% | 0.39% | 0.42% | 0.84% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Centre, Alabama
In Centre, 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 Cherokee 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 Centre, 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. For instance, the median home price in Centre is $132,400, with tax bills ranging from the 25th percentile at $348 to the 90th percentile at $1,739. 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 Centre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centre Assessed Value
$132,400
Average Cherokee County Assessed Value
$121,000
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centre, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35960 | $25,400 | $64,400 | $132,400 | $215,500 | $336,340 |
Source: Ownwell
Property Tax Bills Across Centre, Alabama
In Centre, Cherokee County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this region is $132,400. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $348 and the 75th percentile reaching $1,116. The highest median tax bill recorded in the area is $664, specifically in the 35960 zip code. These figures illustrate the broad range of property tax liabilities that residents might face. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. For homeowners, these taxes can impact their overall housing costs and affordability. Compared to the national median property tax rate of 0.99%, the rates in Centre, Cherokee County, may offer some relief or additional burden depending on individual circumstances and property values. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Centre Tax Bill
$664
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Centre, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35960 | $148 | $348 | $664 | $1,116 | $1,739 |
Source: Ownwell