Gilbertown, Alabama Property Taxes
The median property tax rate in Gilbertown, AL is 0.26%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $55,780 in Gilbertown, the typical annual property tax bill is $136, far below the national median of $2,690. Property taxes in Gilbertown are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gilbertown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gilbertown 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
Gilbertown, 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 Gilbertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilbertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilbertown 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 Gilbertown, Alabama
Property taxes in Gilbertown, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilbertown is 0.26%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Gilbertown set these rates annually, and they can vary across different neighborhoods. Each year, Gilbertown 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 Gilbertown's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is significantly higher, while the lowest median tax rate is also considerably lower. Understanding how these cities compare with Gilbertown provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilbertown Tax Rate
0.26%
Average Choctaw County Tax Rate
0.29%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilbertown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36908 | 0.14% | 0.20% | 0.26% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Gilbertown, Alabama
In Gilbertown, 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 Choctaw 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 Gilbertown, 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 Gilbertown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gilbertown stands at $55,780, with tax bills ranging significantly. The 25th percentile tax bill is $60, while the 75th percentile tax bill is $263, and the 90th percentile tax bill reaches $426. The zip code 36908 has the highest and lowest median tax bill at $136.
Average Gilbertown Assessed Value
$55,780
Average Choctaw County Assessed Value
$48,430
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilbertown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36908 | $17,682 | $28,160 | $55,780 | $101,100 | $153,478 |
Source: Ownwell
Property Tax Bills Across Gilbertown, Alabama
In Gilbertown, Choctaw County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The median home price in the area is $55,780. The assessed value is typically a percentage of the market value, and then the local tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in Gilbertown can expect a tax bill ranging from $60 at the 25th percentile to $426 at the 90th percentile, depending on their property's assessed value. Several factors influence the tax bill, including property size, location, and any applicable exemptions. The local tax rate in Gilbertown can be compared to the national median property tax rate of 0.99%, providing context for homeowners. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community. For homeowners, understanding how their tax bill is calculated can help in financial planning and ensuring they are not overpaying on their property taxes.
Average Gilbertown Tax Bill
$136
Average Choctaw County Tax Bill
$120
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilbertown, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36908 | $37 | $60 | $136 | $263 | $426 |
Source: Ownwell