Lenox, Alabama Property Taxes
The median property tax rate in Lenox, Alabama is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value in Lenox, the typical annual property tax bill is $346, which is far below the national median of $2,690. Property taxes in Lenox are calculated based on the tax-assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lenox'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 Lenox or another part of Conecuh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lenox, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$416
$386
Ownwell’s Lenox Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenox with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenox 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 Lenox, Alabama
Property taxes in Lenox, Alabama, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lenox is 0.30%, which is below both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Lenox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenox 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 Lenox'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 than Lenox’s 0.30%, while the lowest median tax rate is also below the national median. Understanding how these cities compare with Lenox provides valuable insights into the varying tax landscape across Conecuh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenox Tax Rate
0.30%
Average Conecuh County Tax Rate
0.34%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenox, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36454 | 0.19% | 0.25% | 0.30% | 0.35% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Lenox, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lenox, Alabama. The market value represents 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 Conecuh 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. Assessment notices in Lenox 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 Lenox helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 36454 at $346, which is also the lowest median tax bill in the area.
Average Lenox Assessed Value
$138,560
Average Conecuh County Assessed Value
$80,780
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenox, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36454 | $45,806 | $94,870 | $138,560 | $183,265 | $220,148 |
Source: Ownwell
Property Tax Bills Across Lenox, Alabama
In Lenox, property tax bills are determined by assessing the value of your home and applying the local tax rate. The tax bill calculation starts with the assessed value of your property, which is typically a percentage of its market value. For instance, with a median home price of $138,560, the assessed value forms the foundation for the tax bill. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions. In Lenox, the tax bills can vary significantly, with the 25th percentile tax bill at $248 and the 75th percentile at $504. For those in the 90th percentile, the tax bill can go as high as $701. This variability means that homeowners can experience different financial impacts based on their property's assessed value and the prevailing tax rate. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Lenox Tax Bill
$346
Average Conecuh County Tax Bill
$297
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenox, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36454 | $168 | $248 | $346 | $504 | $701 |
Source: Ownwell