Graysville, Alabama Property Taxes
The median property tax rate in Graysville, AL is 0.58%, which is lower than the national median of 0.99% but higher than the Alabama state median of 0.47%. With a median home value of $61,300 in Graysville, the typical annual property tax bill amounts to $430, significantly less than the national median of $2,690. Property taxes in Graysville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Graysville'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 Graysville or another part of Jefferson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graysville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$356
Ownwell’s Graysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graysville 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 Graysville, Alabama
Property taxes in Graysville, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graysville is 0.58%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Graysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graysville 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 Graysville's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35073 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Graysville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graysville Tax Rate
0.58%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graysville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35073 | 0.44% | 0.50% | 0.58% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Graysville, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Graysville, Alabama. 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 Jefferson 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. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Graysville, zip code 35073 has the highest median tax bill at $430, while the lowest median tax bill is also in zip code 35073 at $430.
Average Graysville Assessed Value
$61,300
Average Jefferson County Assessed Value
$150,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graysville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35073 | $19,360 | $37,650 | $61,300 | $91,000 | $125,460 |
Source: Ownwell
Property Tax Bills Across Graysville, Alabama
In Graysville, property tax bills are calculated based on the assessed value of the property, which is determined by the Jefferson County tax assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, a tax rate, also known as a millage rate, is applied. The median home price in Graysville is $61,300, and the property tax rate in Jefferson County is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Graysville can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $246, while at the 75th percentile, it rises to $666. The tax bill at the 90th percentile can reach up to $967. These variations are influenced by factors such as property improvements, location, and exemptions for which the homeowner may qualify. Understanding these factors helps homeowners anticipate their tax obligations and manage their financial planning more effectively.
Average Graysville Tax Bill
$430
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Graysville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35073 | $136 | $246 | $430 | $666 | $967 |
Source: Ownwell