Alexander City, Alabama Property Taxes
The median property tax rate in Alexander City, AL is 0.24%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Alexander City at $996,535, the typical annual property tax bill reaches $2,592, which is below the national median of $2,690. Property taxes in Alexander City 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 Alexander City'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 Alexander City 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
Alexander City, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$2,392
$2,219
Ownwell’s Alexander City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Alexander City using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexander City 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 Alexander City, Alabama
Property taxes in Alexander City, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexander City is 0.24%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Alexander City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexander City 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 Alexander City'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 35203 with a rate of 0.66%, while the lowest median tax rate is in 36853 at just 0.16%. Understanding how these cities compare with Alexander City provides valuable insights into the varying tax landscape across Elmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexander City Tax Rate
0.24%
Average Elmore County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexander City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35010 | 0.18% | 0.19% | 0.24% | 0.35% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Alexander City, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alexander City, Alabama. 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 Elmore 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 Alexander City, 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 example, the zip code with the highest median tax bill in Alexander City is 35010, with a median tax bill of $2,592. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Alexander City, Alabama
Source: Ownwell
$65,020
$1,344,125
$2,623,230
Average Alexander City Assessed Value
$996,535
Average Elmore County Assessed Value
$185,990
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexander City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35010 | $564,794 | $691,178 | $996,535 | $1,486,898 | $1,965,770 |
Source: Ownwell
Property Tax Bills Across Alexander City, Alabama
In Alexander City, located in Elmore County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county tax assessor and is a percentage of the property's market value. For homeowners, this means that the higher the market value of their property, the higher their tax bill will be. Factors such as property location, size, and improvements can influence the assessed value. In Elmore County, the median home price is $996,535. Property tax bills in Alexander City vary widely. For instance, the 25th percentile tax bill stands at $1,733, while the 75th percentile tax bill is $3,880. The 90th percentile tax bill can go up to $5,753. The highest median tax bill in the area is $2,592, with the same median value being the lowest as well, suggesting a uniformity in certain neighborhoods. Compared to the national median property tax rate of 0.99%, homeowners in Alexander City may find their tax bills relatively moderate, although individual experiences can vary significantly based on property values and specific assessments.
Average Alexander City Tax Bill
$2,592
Average Elmore County Tax Bill
$602
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexander City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35010 | $1,329 | $1,733 | $2,592 | $3,880 | $5,753 |
Source: Ownwell