Tarrant, Alabama Property Taxes
The median property tax rate in Tarrant, Alabama is 1.13%, considerably higher than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Tarrant at $47,100, the typical annual property tax bill reaches $473, which is below the national median of $2,690. Property taxes in Tarrant are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tarrant'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 Tarrant 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
Tarrant, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$532
$494
Ownwell’s Tarrant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tarrant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tarrant 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 Tarrant, Alabama
Property taxes in Tarrant, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tarrant is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tarrant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tarrant 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 Tarrant's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35217 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Tarrant 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 Tarrant Tax Rate
1.13%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tarrant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35217 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Tarrant, Alabama
In Tarrant, 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 local 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 Tarrant, 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. For example, the median home price in Tarrant is $47,100, with tax bills ranging from the 25th percentile at $438 to the 75th percentile at $564. The highest and lowest median tax bills are both $473, found in zip code 35217. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tarrant Assessed Value
$47,100
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 Tarrant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35217 | $34,480 | $40,350 | $47,100 | $51,250 | $1,400,300 |
Source: Ownwell
Property Tax Bills Across Tarrant, Alabama
In Tarrant, Jefferson County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For homeowners in Tarrant, the median home price is $47,100. The property tax rate in Tarrant is crucial in determining the final tax bill. This rate is applied to the assessed value to calculate the annual property tax owed. For example, homeowners here can expect tax bills ranging from $438 at the 25th percentile to $581 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, making Tarrant's property tax rates relatively modest. This can be a financial relief for homeowners, especially when considering the national context. However, the exact amount each homeowner pays can vary based on property value and specific local tax rates, impacting household budgets accordingly.
Average Tarrant Tax Bill
$473
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tarrant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35217 | $365 | $438 | $473 | $564 | $581 |
Source: Ownwell