Ozark, Alabama Property Taxes
The median property tax rate in Ozark, AL is 0.28%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Ozark, the typical annual property tax bill is $675, far below the national median of $2,690. Property taxes in Ozark are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ozark'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 Ozark or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ozark, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$522
$485
Ownwell’s Ozark Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ozark with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ozark 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 Ozark, Alabama
Property taxes in Ozark, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ozark is 0.28%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Ozark set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ozark 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. For comparison, the highest median property tax rate within Coffee County is 0.35%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with Ozark provides valuable insights into the varying tax landscape across Coffee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ozark Tax Rate
0.28%
Average Coffee County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ozark, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36360 | 0.26% | 0.27% | 0.28% | 0.30% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Ozark, Alabama
In Ozark, 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 Coffee 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 Ozark, 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 Ozark helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ozark is $675 in zip code 36360, while the lowest median tax bill is also $675 in the same zip code.
Average Ozark Assessed Value
$186,525
Average Coffee County Assessed Value
$139,450
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ozark, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36360 | $96,831 | $126,998 | $186,525 | $263,745 | $325,122 |
Source: Ownwell
Property Tax Bills Across Ozark, Alabama
In Ozark, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Coffee County, the median home price is $186,525. The tax bill is determined by applying the local property tax rate to the assessed value of the property. Several factors, such as property improvements, neighborhood developments, and changes in market conditions, can influence this assessed value. Homeowners in Ozark can expect a range in their property tax bills. At the 25th percentile, the tax bill is around $466, while at the 75th percentile, it rises to approximately $948. The 90th percentile sees tax bills reaching up to $1,073. These figures are relatively modest compared to the national median property tax rate of 0.99%. Understanding how property tax bills are calculated helps homeowners anticipate their annual expenses and plan accordingly. It also highlights the importance of keeping up with local property assessments and any potential exemptions they might qualify for.
Average Ozark Tax Bill
$675
Average Coffee County Tax Bill
$551
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Ozark, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36360 | $269 | $466 | $675 | $948 | $1,073 |
Source: Ownwell