Chestnut Hill, Alabama Property Taxes
The median property tax rate in Chestnut Hill, AL 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 Chestnut Hill at $372,350, the typical annual property tax bill amounts to $2,118, which is still below the national median of $2,690. Property taxes in Chestnut Hill 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 Chestnut Hill'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 Chestnut Hill 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
Chestnut Hill, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$1,303
$1,209
Ownwell’s Chestnut Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chestnut Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chestnut Hill 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 Chestnut Hill, Alabama
Property taxes in Chestnut Hill, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chestnut Hill is 0.35%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Chestnut Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chestnut Hill 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 Chestnut Hill'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 zip code 36830 at 0.47%, while the lowest is in zip code 36501 at 0.22%. Understanding how these cities compare with Chestnut Hill provides valuable insights into the varying tax landscape across Dale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chestnut Hill Tax Rate
0.35%
Average Dale County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chestnut Hill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Chestnut Hill, Alabama
In Chestnut Hill, 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 Dale 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 Chestnut Hill, 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 Chestnut Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Zip codes with the highest and lowest tax bills are both at $2,118, reflecting the 25th, 75th, and 90th percentiles.
Average Chestnut Hill Assessed Value
$372,350
Average Dale County Assessed Value
$110,690
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chestnut Hill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Chestnut Hill, Alabama
In Chestnut Hill, located in Dale County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. For homeowners in Chestnut Hill, the median home price is $372,350, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. In Chestnut Hill, the 25th, 75th, and 90th percentile tax bills are all $2,118, indicating a consistent tax rate across different property values. Compared to the national median property tax rate of 0.99%, homeowners in Chestnut Hill experience a relatively moderate tax burden. For homeowners, understanding how property tax bills are calculated is crucial, as it directly impacts their annual expenses and overall financial planning. By knowing the assessed value and applicable tax rates, homeowners can better anticipate their property tax liabilities and explore potential exemptions to reduce their tax burden.
Average Chestnut Hill Tax Bill
$2,118
Average Dale County Tax Bill
$497
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Chestnut Hill, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell