Black, Alabama Property Taxes
The median property tax rate in Black, Alabama is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Black, the typical annual property tax bill amounts to $296, which is well below the national median of $2,690. Property taxes in Black 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 Black'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 Black 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
Black, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$319
$296
Ownwell’s Black Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Black with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Black 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 Black, Alabama
Property taxes in BLACK, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in BLACK is 0.31%, which is significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within BLACK set these rates annually, and they can vary significantly across different neighborhoods. Each year, BLACK 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 BLACK'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 0.66%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with BLACK provides valuable insights into the varying tax landscape across Geneva County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Black Tax Rate
0.31%
Average Geneva County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Black, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36314 | 0.13% | 0.22% | 0.31% | 0.42% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Black, Alabama
In Black, 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 Geneva 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 Black, 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 Black helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Black is $296 in the 36314 zip code, while the lowest is also $296 in the same zip code.
Average Black Assessed Value
$102,800
Average Geneva County Assessed Value
$100,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Black, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36314 | $33,860 | $54,350 | $102,800 | $175,200 | $281,780 |
Source: Ownwell
Property Tax Bills Across Black, Alabama
In BLACK, Geneva County, AL, property tax bills are calculated based on the assessed value of your home, which is a percentage of the market value. The median home price in the area is $102,800. The tax rate applied to this assessed value determines your annual property tax bill. Several factors influence the tax bill, including the property's location, size, and use. Homeowners in BLACK can expect a range of tax bills, with the 25th percentile at $162 and the 75th percentile at $572. The 90th percentile reaches up to $838, indicating a significant variation based on property characteristics. These property taxes fund essential services like schools, emergency services, and infrastructure, directly impacting the community's quality of life. While the median tax bill in Geneva County is $296, this is considerably lower than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Black Tax Bill
$296
Average Geneva County Tax Bill
$373
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Black, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36314 | $76 | $162 | $296 | $572 | $838 |
Source: Ownwell