Hollytree, Alabama Property Taxes
The median property tax rate in Hollytree, AL is 0.26%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hollytree at $112,100, the typical annual property tax bill is approximately $302, well below the national median of $2,690. Property taxes in Hollytree are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hollytree'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 Hollytree or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hollytree, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$291
$270
Ownwell’s HOLLYTREE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOLLYTREE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOLLYTREE 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 Hollytree, Alabama
Property taxes in Hollytree, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollytree 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 Hollytree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hollytree 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 Hollytree's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35764 has the highest median property tax rate of 0.43%, while the zip code 35776 has the lowest median tax rate of 0.20%. Understanding how these cities compare with Hollytree provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hollytree Tax Rate
0.26%
Average Jackson County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hollytree, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35751 | 0.15% | 0.21% | 0.26% | 0.30% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Hollytree, Alabama
In Hollytree, 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 Jackson 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 Hollytree, 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 Hollytree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $302 in the 35751 zip code, while the lowest is also $302, reflecting a consistent tax landscape.
Average Hollytree Assessed Value
$112,100
Average Jackson County Assessed Value
$104,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hollytree, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35751 | $28,400 | $60,300 | $112,100 | $193,100 | $312,080 |
Source: Ownwell
Property Tax Bills Across Hollytree, Alabama
In Hollytree, located in Jackson County, AL, property tax bills are calculated based on the assessed value of a home. The assessment process typically involves determining a percentage of the property's market value. For instance, with a median home price of $112,100, homeowners can expect their property tax bills to reflect this value. Various factors such as property location, size, and condition are considered during assessment. The property tax rate in Hollytree is relatively low compared to the national median property tax rate of 0.99%. Homeowners here experience a range of tax bills, with the 25th percentile paying around $163 and the 75th percentile facing bills up to $501. At the 90th percentile, tax bills can reach as high as $793. This variability in tax bills can significantly impact homeowners, influencing their annual budgeting and long-term financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Hollytree Tax Bill
$302
Average Jackson County Tax Bill
$375
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hollytree, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35751 | $82 | $163 | $302 | $501 | $793 |
Source: Ownwell