Fort Payne, Alabama Property Taxes
The median property tax rate in Fort Payne, 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 $103,600 in Fort Payne, the typical annual property tax bill is $491, which is well below the national median of $2,690. Property taxes in Fort Payne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fort Payne'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 Fort Payne or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Payne, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$435
$404
Ownwell’s FORT PAYNE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT PAYNE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT PAYNE 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 Fort Payne, Alabama
Property taxes in Fort Payne, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Payne is 0.42%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Fort Payne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Payne 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 Fort Payne's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35967 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Fort Payne provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Payne 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 Fort Payne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35967 | 0.28% | 0.35% | 0.42% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Fort Payne, Alabama
In Fort Payne, 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 Fort Payne, 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. The highest median tax bill in Fort Payne is $491 in the 35967 zip code, and the lowest median tax bill is also $491 in the same zip code. Being aware of these valuation processes in Fort Payne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Payne Assessed Value
$103,600
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 Fort Payne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35967 | $17,440 | $37,952 | $103,600 | $180,800 | $344,740 |
Source: Ownwell
Property Tax Bills Across Fort Payne, Alabama
In Fort Payne, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, a median home price in Fort Payne is $103,600. Homeowners in the 25th percentile pay around $242 annually, while those in the 75th percentile pay about $855. At the 90th percentile, the tax bill can reach up to $1,448. The highest and lowest median tax bills in the area are both $491, found in the 35967 zip code. These taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Fort Payne's property taxes are relatively affordable, which can make homeownership more accessible and less financially burdensome for residents. Understanding these factors helps homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Fort Payne Tax Bill
$491
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Payne, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35967 | $99 | $242 | $491 | $855 | $1,448 |
Source: Ownwell