Verbena, Alabama Property Taxes
The median property tax rate in Verbena, AL is 0.44%, which is lower than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Verbena at $116,500, the typical annual property tax bill comes to $514, significantly below the national median of $2,690. Property taxes in Verbena are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Verbena'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 Verbena or another part of Chilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Verbena, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$513
Ownwell’s Verbena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verbena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verbena 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 Verbena, Alabama
Property taxes in Verbena, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verbena is 0.44%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Verbena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verbena 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 Verbena's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36091 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Verbena provides valuable insights into the varying tax landscape across Chilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Verbena Tax Rate
0.44%
Average Chilton County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | 0.14% | 0.33% | 0.44% | 0.58% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Verbena, Alabama
In Verbena, 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 Chilton 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 Verbena, 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 Verbena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Verbena is $514 in zip code 36091, while the lowest median tax bill is also $514 in the same zip code.
Average Verbena Assessed Value
$116,500
Average Chilton County Assessed Value
$120,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | $37,800 | $61,450 | $116,500 | $205,800 | $360,700 |
Source: Ownwell
Property Tax Bills Across Verbena, Alabama
In Verbena, located in Chilton 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 Verbena is $116,500. To determine the tax bill, the assessed value is multiplied by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Verbena can expect a wide range of tax bills. For instance, the tax bill at the 25th percentile is $222, while at the 75th percentile, it rises to $1,007. At the 90th percentile, the tax bill can reach up to $1,833. The median tax bill in the area is $514, which is significantly lower than the national median property tax rate of 0.99%. These variances can affect homeowners differently, impacting their annual budgets and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Verbena Tax Bill
$514
Average Chilton County Tax Bill
$562
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Verbena, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36091 | $73 | $222 | $514 | $1,007 | $1,833 |
Source: Ownwell