Gantt, Alabama Property Taxes
The median property tax rate in Gantt, AL is 0.54%, slightly higher than the Alabama state median of 0.47% but lower than the national median of 0.99%. With a median home value of $202,000, the typical annual property tax bill in Gantt reaches $546, significantly below the national median of $2,690. Property taxes in Gantt are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gantt'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 Gantt 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
Gantt, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,091
Ownwell’s Gantt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gantt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gantt 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 Gantt, Alabama
Property taxes in Gantt, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gantt is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Gantt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gantt 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 Gantt's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36038 has both the highest and the lowest median property tax rate of 0.54%. Understanding how these areas compare with Gantt 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 Gantt Tax Rate
0.54%
Average Covington County Tax Rate
0.34%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gantt, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36038 | 0.27% | 0.27% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Gantt, Alabama
In Gantt, 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 Gantt, 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. For instance, the median home price in Gantt is $202,000, with tax bills ranging from $268 at the 25th percentile to $1,248 at the 90th percentile. The highest median tax bill in the area is $546 in the zip code 36038, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Gantt Assessed Value
$202,000
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 Gantt, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36038 | $35,672 | $60,840 | $202,000 | $238,040 | $297,848 |
Source: Ownwell
Property Tax Bills Across Gantt, Alabama
In Gantt, located in Covington County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. In Gantt, the property tax rate is significantly lower than the national median of 0.99%, resulting in relatively affordable tax bills for homeowners. For instance, the median home price in Gantt is $202,000, and the tax bills can range widely. At the 25th percentile, homeowners might pay around $268, while those at the 75th percentile could see bills as high as $1003. Even at the 90th percentile, the tax bill remains comparatively low at $1248. These factors ensure that property taxes in Gantt remain manageable, making it an attractive place for homeowners. The highest and lowest median tax bills in the area are both $546, indicating a consistency in tax rates across different properties.
Average Gantt Tax Bill
$546
Average Covington County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gantt, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36038 | $120 | $268 | $546 | $1,003 | $1,248 |
Source: Ownwell