Gainesville, Alabama Property Taxes
The median property tax rate in Gainesville, Alabama is 0.45%, which is lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $31,800 in Gainesville, the typical annual property tax bill is $142, significantly below the national median of $2,690. Property taxes in Gainesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gainesville'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 Gainesville 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
Gainesville, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Gainesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gainesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gainesville 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 Gainesville, Alabama
Property taxes in Gainesville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainesville is 0.45%, which is lower than the U.S. national median of 0.99%. Local government entities within Gainesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gainesville 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 Gainesville's effective property tax rate to other areas in Greene County and the national median. For comparison, the zip code 35464 has the same median property tax rate of 0.45%. Understanding how these cities compare with Gainesville provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gainesville Tax Rate
0.45%
Average Greene County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Gainesville, Alabama
In Gainesville, 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 Greene 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 Gainesville, 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 Gainesville 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 $142.00, found in the 35464 zip code.
Average Gainesville Assessed Value
$31,800
Average Greene County Assessed Value
$64,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | $12,340 | $16,250 | $31,800 | $40,800 | $51,820 |
Source: Ownwell
Property Tax Bills Across Gainesville, Alabama
In Gainesville, Greene County, AL, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence your property tax bill, including the median home price, which stands at $31,800 in the area. Homeowners in Gainesville can expect their tax bills to vary, with the 25th percentile at $89 and the 75th percentile at $144. The highest median tax bill recorded in the region is $142, which aligns with the lowest median tax bill, indicating a relatively uniform tax distribution within the county. Compared to the national median property tax rate of 0.99%, homeowners in Gainesville generally experience lower tax bills, which can be beneficial for budgeting and financial planning. Understanding these factors helps homeowners anticipate their annual obligations and manage their finances more effectively.
Average Gainesville Tax Bill
$142
Average Greene County Tax Bill
$290
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gainesville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35464 | $56 | $89 | $142 | $144 | $145 |
Source: Ownwell