Henagar, Alabama Property Taxes
The median property tax rate in Henagar, Alabama 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 Henagar at $102,500, the typical annual property tax bill amounts to $373, well below the national median of $2,690. Property taxes in Henagar 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 Henagar'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 Henagar or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henagar, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$359
$333
Ownwell’s Henagar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Henagar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henagar 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 Henagar, Alabama
Property taxes in Henagar, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Henagar is 0.35%, which is significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Henagar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henagar 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 Henagar's effective property tax rate to other counties in Alabama and the national median. For comparison, 35203 has the highest median property tax rate of 0.74%, while 36310 has the lowest median tax rate of 0.21%. Understanding how these cities compare with Henagar provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henagar Tax Rate
0.35%
Average Dekalb County Tax Rate
0.36%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henagar, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35978 | 0.22% | 0.30% | 0.35% | 0.56% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Henagar, Alabama
In Henagar, 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 DeKalb 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 Henagar, 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, in Henagar, the median home price is $102,500, with property tax bills ranging from $177 at the 25th percentile to $1,012 at the 90th percentile. The highest and lowest median tax bills, both at $373, are found in the 35978 zip code. By understanding 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 Henagar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henagar Assessed Value
$102,500
Average Dekalb County Assessed Value
$106,260
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henagar, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35978 | $26,184 | $53,830 | $102,500 | $178,126 | $259,000 |
Source: Ownwell
Property Tax Bills Across Henagar, Alabama
In Henagar, located in DeKalb County, AL, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $102,500, the assessed value forms the basis for calculating the property tax. Local tax authorities then apply the county's tax rate to this assessed value to determine the annual tax bill. In Henagar, the median property tax bill is $373, which is significantly lower than the national median property tax rate of 0.99%. Homeowners at the 25th percentile pay around $177, while those at the 75th percentile see bills closer to $679. The top 10% of tax bills can reach up to $1,012. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. Lower property taxes can make homeownership more affordable, but they may also reflect fewer public services or amenities.
Average Henagar Tax Bill
$373
Average Dekalb County Tax Bill
$412
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Henagar, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35978 | $76 | $177 | $373 | $679 | $1,012 |
Source: Ownwell