Eclectic, Alabama Property Taxes
The median property tax rate in Eclectic, AL is 0.33%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Eclectic at $264,630, the typical annual property tax bill amounts to $849, well below the national median of $2,690. Property taxes in Eclectic are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eclectic'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 Eclectic or another part of Elmore County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eclectic, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$873
$810
Ownwell’s Eclectic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eclectic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eclectic 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 Eclectic, Alabama
Property taxes in Eclectic, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eclectic is 0.33%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Eclectic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eclectic 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 Eclectic'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 Shelby County at 0.43%, while the lowest median tax rate is in Crenshaw County at 0.21%. Understanding how these cities compare with Eclectic 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 Eclectic Tax Rate
0.33%
Average Elmore County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eclectic, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36024 | 0.13% | 0.27% | 0.33% | 0.41% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Eclectic, Alabama
In Eclectic, 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 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. 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. In Eclectic, the zip code 36024 has both the highest and lowest median tax bill, both at $849. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eclectic Assessed Value
$264,630
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 Eclectic, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36024 | $73,100 | $129,830 | $264,630 | $548,250 | $811,250 |
Source: Ownwell
Property Tax Bills Across Eclectic, Alabama
In Eclectic, Elmore County, AL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the market value of the property. Homeowners in Eclectic can expect property tax bills that vary significantly, reflecting differences in property values and applicable exemptions. For instance, the median home price in Eclectic stands at $264,630. Property tax bills range widely, with the 25th percentile at $395 and the 75th percentile at $1,876, indicating that most homeowners fall within this spectrum. At the higher end, the 90th percentile tax bill reaches $3,021. The highest and lowest median tax bills in the area are both recorded at $849, within the zip code 36024. These property taxes play a crucial role in funding local services such as schools, infrastructure, and public safety. Homeowners should be aware of how these taxes are calculated and budget accordingly to manage their financial obligations effectively.
Average Eclectic Tax Bill
$849
Average Elmore County Tax Bill
$602
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Eclectic, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36024 | $88 | $395 | $849 | $1,876 | $3,021 |
Source: Ownwell