Gadsden, Alabama Property Taxes
The median property tax rate in Gadsden, AL is 0.42%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Gadsden at $87,450, the typical annual property tax bill is $551, well below the national median of $2,690. Property taxes in Gadsden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gadsden'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 Gadsden or another part of the city, knowing the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gadsden, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$367
$341
Ownwell’s Gadsden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gadsden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gadsden 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 Gadsden, Alabama
Property taxes in Gadsden, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gadsden is 0.42%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Gadsden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gadsden 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 Gadsden's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35903 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Gadsden 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 Gadsden 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 Gadsden, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35901 | N/A | N/A | N/A | N/A | N/A |
| 35903 | 0.29% | 0.35% | 0.41% | 0.77% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Gadsden, Alabama
In Gadsden, 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 Gadsden, 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. Being aware of these valuation processes in Gadsden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $360.00, found in zip code 35903, which is the same as the lowest median tax bill.
Average Gadsden Assessed Value
$87,450
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 Gadsden, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35901 | N/A | N/A | N/A | N/A | N/A |
| 35903 | $12,500 | $35,500 | $86,100 | $134,325 | $299,400 |
Source: Ownwell
Property Tax Bills Across Gadsden, Alabama
Property tax bills in Gadsden, Cherokee County, AL, are calculated based on the assessed value of a property, which is a percentage of its market value. In this region, the median home price stands at $87,450. The property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market trends can influence the assessed value, thereby affecting the tax bill. Homeowners in Gadsden typically see a range of tax bills. At the 25th percentile, the tax bill is $230, while at the 75th percentile, it reaches $757. For those in the 90th percentile, the tax bill can be as high as $1,400. Interestingly, the highest and lowest median tax bills in the area are both $360, found in the 35903 zip code. Compared to the national median property tax rate of 0.99%, Gadsden's property tax rates can significantly impact homeowners, making it essential for them to understand how their tax bills are determined.
Average Gadsden Tax Bill
$551
Average Cherokee County Tax Bill
$617
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gadsden, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35901 | N/A | N/A | N/A | N/A | N/A |
| 35903 | $40 | $160 | $360 | $738 | $1,423 |
Source: Ownwell