Red Level, Alabama Property Taxes
The median property tax rate in Red Level, AL is 0.25%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Red Level, the typical annual property tax bill amounts to $306, far below the national median of $2,690. Property taxes in Red Level 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 Red Level'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 Red Level 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
Red Level, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$272
$252
Ownwell’s Red Level Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Red Level with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Red Level 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 Red Level, Alabama
Property taxes in Red Level, Alabama, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Red Level is 0.25%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Red Level set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Level 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 Red Level'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, while the lowest median tax rate is notably lower. Understanding how these cities compare with Red Level 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 Red Level Tax Rate
0.25%
Average Covington County Tax Rate
0.34%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Level, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36474 | 0.15% | 0.20% | 0.25% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Red Level, Alabama
In Red Level, 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 Red Level, 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 Red Level helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Red Level is $108,650, with tax bills ranging from $175 at the 25th percentile to $718 at the 90th percentile. The highest and lowest median tax bills, both at $306, are found in the 36474 zip code.
Average Red Level Assessed Value
$108,650
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 Red Level, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36474 | $39,372 | $64,065 | $108,650 | $182,715 | $267,940 |
Source: Ownwell
Property Tax Bills Across Red Level, Alabama
In Red Level, located in Covington County, AL, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Red Level typically see tax bills that vary significantly. For instance, the 25th percentile tax bill is around $175, while the 75th percentile tax bill can reach $485. At the higher end, the 90th percentile tax bill is $718. The median home price in Red Level stands at $108,650, which is relatively modest compared to national averages. For homeowners, understanding these factors is crucial as property taxes can impact overall housing costs. Compared to the national median property tax rate of 0.99%, Red Level offers a more affordable tax environment, making it an attractive option for budget-conscious homeowners.
Average Red Level Tax Bill
$306
Average Covington County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Level, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36474 | $97 | $175 | $306 | $485 | $718 |
Source: Ownwell