Glencoe, Alabama Property Taxes
The median property tax rate in Glencoe, AL is 0.54%, slightly higher than the Alabama state median of 0.47% but still below the national median of 0.99%. With a median home value of $171,600, the typical annual property tax bill in Glencoe reaches $878, which is significantly lower than the national median of $2,690. Property taxes in Glencoe are calculated based on the assessed value, generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Glencoe'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 Glencoe or another part of Etowah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glencoe, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$927
Ownwell’s Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Alabama
Property taxes in Glencoe, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35905 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Glencoe provides valuable insights into the varying tax landscape across Etowah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glencoe Tax Rate
0.54%
Average Etowah County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35905 | 0.35% | 0.39% | 0.54% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Alabama
In Glencoe, 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 Etowah 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 Glencoe, 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $878, with the zip code 35905 reflecting this value.
Average Glencoe Assessed Value
$171,600
Average Etowah County Assessed Value
$135,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glencoe, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35905 | $77,720 | $121,900 | $171,600 | $235,800 | $297,920 |
Source: Ownwell
Property Tax Bills Across Glencoe, Alabama
In Glencoe, Etowah County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $171,600, homeowners in Glencoe can expect their tax bills to vary significantly. Factors such as property size, location, and any applicable exemptions play a crucial role in determining the final tax bill. The 25th percentile of tax bills in Glencoe is around $600, while the 75th percentile reaches approximately $1,283. Homeowners at the 90th percentile may see tax bills as high as $1,710. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes fund essential services like schools, infrastructure, and emergency services, directly impacting the quality of life for Glencoe residents.
Average Glencoe Tax Bill
$878
Average Etowah County Tax Bill
$625
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35905 | $474 | $600 | $878 | $1,283 | $1,710 |
Source: Ownwell