Grady, Alabama Property Taxes
The median property tax rate in Grady, AL, is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Grady at $57,560, the typical annual property tax bill is $208, which is well below the national median of $2,690. Property taxes in Grady 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 Grady'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 Grady or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grady, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$196
$182
Ownwell’s Grady Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grady with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grady 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 Grady, Alabama
Property taxes in Grady, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grady is 0.33%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Grady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grady 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 Grady's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35203 has the highest median property tax rate of 0.66%, while zip code 35010 has the lowest median tax rate of 0.31%. Understanding how these cities compare with Grady provides valuable insights into the varying tax landscape across Crenshaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grady Tax Rate
0.34%
Average Crenshaw County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | 0.16% | 0.23% | 0.34% | 0.58% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Grady, Alabama
In Grady, 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 local 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 Grady, 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 Grady helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $57,560, with tax bills ranging from $104 at the 25th percentile to $617 at the 90th percentile.
Average Grady Assessed Value
$57,560
Average Crenshaw County Assessed Value
$88,920
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | $23,204 | $32,555 | $57,560 | $106,915 | $185,318 |
Source: Ownwell
Property Tax Bills Across Grady, Alabama
In Grady, located in Crenshaw County, AL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Grady is $57,560. To determine the tax bill, local tax rates are applied to the assessed value. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Grady can expect a range of property tax bills. For instance, the 25th percentile tax bill is $104, while the 75th percentile tax bill is $349. At the higher end, the 90th percentile tax bill reaches $617. Comparatively, these figures are quite modest when contrasted with the national median property tax rate of 0.99%. The highest and lowest median tax bills in Grady both stand at $208, which is significantly lower than the national average. This relatively low property tax burden can be advantageous for homeowners, potentially making homeownership more affordable in this region.
Average Grady Tax Bill
$208
Average Crenshaw County Tax Bill
$341
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | $51 | $104 | $208 | $349 | $617 |
Source: Ownwell