Taylor, Alabama Property Taxes
The median property tax rate in Taylor, AL is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Taylor at $57,750, the typical annual property tax bill is $182, far below the national median of $2,690. Property taxes in Taylor 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 Taylor'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 Taylor 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
Taylor, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$196
Ownwell’s Taylor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taylor 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 Taylor, Alabama
Property taxes in Taylor, Alabama, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Taylor is 0.34%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Taylor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taylor 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 Taylor's effective property tax rate to other counties in Alabama and the national median. Understanding how these cities compare with Taylor 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 Taylor Tax Rate
0.34%
Average Geneva County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylor, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36301 | 0.30% | 0.32% | 0.34% | 0.37% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Taylor, Alabama
In Taylor, 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 local authorities 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 Taylor, 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 Taylor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Taylor both stand at $182.00, specifically in the 36301 zip code, indicating a relatively uniform tax burden across the area.
Average Taylor Assessed Value
$57,750
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 Taylor, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36301 | $34,350 | $43,125 | $57,750 | $72,375 | $81,150 |
Source: Ownwell
Property Tax Bills Across Taylor, Alabama
Property tax bills in Taylor, located in Geneva County, Alabama, are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value. Homeowners in Taylor can expect their property tax bills to reflect various factors, including the local tax rate and any applicable exemptions. In Taylor, the median home price is $57,750, and the median property tax bill is $182. This figure is relatively low compared to the national median property tax rate of 0.99%. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $147, while the 75th percentile reaches $218, and the 90th percentile is $239. These property tax bills directly impact homeowners by influencing their annual housing costs. Lower property taxes can make homeownership more affordable, but they also affect the funding available for local services like schools and infrastructure. Understanding these factors can help homeowners better anticipate and manage their annual expenses.
Average Taylor Tax Bill
$182
Average Geneva County Tax Bill
$373
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylor, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36301 | $125 | $147 | $182 | $218 | $239 |
Source: Ownwell