Verbena, Alabama Property Taxes
The median property tax rate in Verbena, AL 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 of $86,500 in Verbena, the typical annual property tax bill is $259, which is far below the national median of $2,690. Property taxes in Verbena are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Verbena'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 Verbena or another part of Coosa 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
0.3%
Estimate Property Tax Bill
$260
Ownwell’s Verbena Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Verbena with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Verbena to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities, allowing for better financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by the county for tax purposes, includes any applicable exemptions, ensuring an accurate tax estimate.
Property Tax Rates Across Verbena, Alabama
Property taxes in Verbena, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verbena is 0.30%, 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 highest median property tax rate in Alabama is found in Shelby County, while the lowest median tax rate is in Choctaw County. Understanding how these cities compare with Verbena provides valuable insights into the varying tax landscape across Coosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Verbena Tax Rate
0.30%
Average Coosa County Tax Rate
0.27%
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 | 0.22% | 0.28% | 0.30% | 0.45% | 0.57% |
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 Coosa 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. Interestingly, the zip code 36091 in Verbena has both the highest and lowest median tax bill, recorded at $259.
Average Verbena Assessed Value
$86,500
Average Coosa County Assessed Value
$86,950
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 | $52,880 | $69,800 | $86,500 | $128,050 | $203,460 |
Source: Ownwell
Property Tax Bills Across Verbena, Alabama
In Verbena, located in Coosa 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 $86,500. Property taxes are then determined by applying the local tax rate to this assessed value. For example, homeowners at the 25th percentile can expect a tax bill of around $216, while those at the 75th percentile might see a bill closer to $416. At the 90th percentile, the tax bill can reach up to $542. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community. Compared to the national median property tax rate of 0.99%, Verbena’s property tax bills are relatively moderate, offering some financial relief to homeowners in the area.
Average Verbena Tax Bill
$259
Average Coosa County Tax Bill
$282
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 | $136 | $216 | $259 | $416 | $542 |
Source: Ownwell