New Castle, Alabama Property Taxes
The median property tax rate in New Castle, AL is 0.77%, 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 $52,550 in New Castle, the typical annual property tax bill amounts to $433, significantly below the national median of $2,690. Property taxes in New Castle are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New Castle'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 New Castle 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
New Castle, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$405
$375
Ownwell’s New Castle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Castle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Castle 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 New Castle, Alabama
Property taxes in New Castle, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Castle is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within New Castle set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Castle 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 New Castle's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35119 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with New Castle 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 New Castle Tax Rate
0.77%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Castle, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35119 | 0.48% | 0.51% | 0.77% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across New Castle, Alabama
In New Castle, 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 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. In New Castle, 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. The highest median tax bill in New Castle is $433.00, found in the 35119 zip code, while the lowest median tax bill is also $433.00 in the same zip code. The median home price in the area stands at $52,550. Being aware of these valuation processes in New Castle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Castle Assessed Value
$52,550
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 New Castle, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35119 | $34,770 | $42,375 | $52,550 | $75,950 | $91,870 |
Source: Ownwell
Property Tax Bills Across New Castle, Alabama
In New Castle, property tax bills are calculated based on the assessed value of the property, which is determined by the county's tax assessor. The assessed value is a percentage of the property's market value. Various factors such as property size, location, and condition are considered during the assessment process. Homeowners in New Castle, Jefferson County, experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is approximately $287, while the 75th percentile tax bill reaches $631, and the 90th percentile tax bill is around $984. Compared to the national median property tax rate of 0.99%, New Castle's rates can be quite competitive, especially considering the median home price of $52,550. This can be advantageous for homeowners, providing a relatively lower tax burden. However, it's essential for homeowners to stay informed about their property's assessed value and the factors influencing it to manage their tax liabilities effectively.
Average New Castle Tax Bill
$433
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across New Castle, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35119 | $211 | $287 | $433 | $631 | $984 |
Source: Ownwell