Florala, Alabama Property Taxes
The median property tax rate in Florala, Alabama is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Florala at $94,380, the typical annual property tax bill is $337, far below the national median of $2,690. Property taxes in Florala are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Florala'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 Florala or another part of Covington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Florala, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$330
$307
Ownwell’s Florala Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Florala with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florala to provide an accurate estimate of 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 Covington County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Florala, Alabama
Property taxes in Florala, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Florala is 0.35%, which is significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Florala set these rates annually, and they can vary significantly across different neighborhoods. Each year, Florala 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 Florala'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 at 0.43%, while the lowest median tax rate is in Crenshaw County at 0.17%. Understanding how these counties compare with Florala provides valuable insights into the varying tax landscape across Covington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Florala Tax Rate
0.35%
Average Covington County Tax Rate
0.34%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florala, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36442 | 0.18% | 0.24% | 0.35% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Florala, Alabama
In Florala, 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 Covington 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 Florala, 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 Florala 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 36442, with a median tax bill of $337.00, while the same zip code also has the lowest median tax bill of $337.00.
Average Florala Assessed Value
$94,380
Average Covington County Assessed Value
$114,020
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florala, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36442 | $26,768 | $48,980 | $94,380 | $164,700 | $263,908 |
Source: Ownwell
Property Tax Bills Across Florala, Alabama
Property tax bills in Florala, located in Covington County, AL, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Florala is $94,380. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $187 and the 75th percentile at $545. The 90th percentile reaches up to $879. These values indicate that while some homeowners pay relatively low property taxes, others may face higher bills depending on their property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Florala's property tax bills are generally lower, providing some financial relief to homeowners. However, the impact of these taxes can still be significant, especially for those at the higher end of the spectrum. Understanding the factors that influence property tax bills, such as assessed value and local tax rates, is crucial for homeowners looking to manage their expenses effectively.
Average Florala Tax Bill
$337
Average Covington County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Florala, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36442 | $106 | $187 | $337 | $545 | $879 |
Source: Ownwell