Opp, Alabama Property Taxes
The median property tax rate in Opp, Alabama is 0.36%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Opp, the typical annual property tax bill reaches $393, well below the national median of $2,690. Property taxes in Opp 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 Opp'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 Opp 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
Opp, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$349
$324
Ownwell’s Opp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Opp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Opp 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 Opp, Alabama
Property taxes in Opp, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Opp is 0.36%, significantly lower than the U.S. national median of 0.99%. Local government entities within Opp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Opp 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. Understanding how Opp's tax rate compares to the national median provides valuable insights into the varying tax landscape across Covington County, helping homeowners gain a clearer picture of their property tax obligations relative to broader benchmarks.
Average Opp Tax Rate
0.36%
Average Covington County Tax Rate
0.34%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Opp, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36467 | 0.21% | 0.27% | 0.36% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Opp, Alabama
In Opp, 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 Opp, 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 Opp 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 36467, with a median tax bill of $393.
Average Opp Assessed Value
$96,860
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 Opp, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36467 | $37,452 | $61,055 | $96,860 | $162,365 | $255,974 |
Source: Ownwell
Property Tax Bills Across Opp, Alabama
In OPP, located in Covington County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For homeowners in OPP, the median home price is $96,860. The property tax bill can vary significantly, with the 25th percentile at $247 and the 75th percentile at $609. At the 90th percentile, homeowners may see tax bills as high as $893. These figures highlight the range of property tax obligations in the area, which can impact household budgets. Comparatively, the national median property tax rate is 0.99%, making OPP's taxes relatively modest. Understanding how these taxes are calculated helps homeowners plan their finances and potentially seek exemptions to reduce their tax burden.
Average Opp Tax Bill
$393
Average Covington County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Opp, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36467 | $159 | $247 | $393 | $609 | $893 |
Source: Ownwell