Lamar County Property Taxes
The median property tax rate in Lamar County is 0.28%, which is significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Lamar County at $83,780, the typical annual property tax bill amounts to $248, far below the national median of $2,690. Property taxes in Lamar County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Lamar County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you live in Vernon or another part of Lamar County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamar County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$235
$218
Ownwell’s Lamar County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamar County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lamar County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lamar County, Alabama
Property taxes in Lamar County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lamar County is 0.28%, which is significantly lower than the Alabama state median and the U.S. national median of 0.99%. Local government entities within Lamar County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lamar County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. Analyzing how Lamar County's tax rates compare with state and national benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lamar County Tax Rate
0.28%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamar County, Alabama
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverton | 0.15% | 0.22% | 0.29% | 0.39% | 0.64% |
| Detroit | 0.10% | 0.22% | 0.28% | 0.37% | 0.63% |
| Fayette | 0.10% | 0.18% | 0.22% | 0.25% | 0.29% |
| Guin | N/A | N/A | N/A | N/A | N/A |
| Hamilton | 0.14% | 0.21% | 0.32% | 0.43% | 0.49% |
| Kennedy | 0.17% | 0.22% | 0.29% | 0.39% | 0.63% |
| Millport | 0.16% | 0.22% | 0.28% | 0.36% | 0.66% |
| Sulligent | 0.14% | 0.22% | 0.27% | 0.34% | 0.63% |
| Vernon | 0.14% | 0.22% | 0.28% | 0.35% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Lamar County, Alabama
In Lamar County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lamar County Appraisal District. The assessed value, however, 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 in Lamar County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Lamar County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Lamar County, Millport has the highest median tax bill at $270, while Beaverton has the lowest at $206.
Average Lamar County Assessed Value
$83,780
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamar County, Alabama
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverton | $22,380 | $37,070 | $74,060 | $127,010 | $205,788 |
| Detroit | $22,412 | $42,870 | $83,620 | $140,745 | $198,006 |
| Fayette | $38,510 | $51,175 | $91,930 | $133,430 | $193,550 |
| Guin | N/A | N/A | N/A | N/A | N/A |
| Hamilton | $39,768 | $48,000 | $61,720 | $75,440 | $83,672 |
| Kennedy | $26,314 | $45,090 | $79,480 | $147,450 | $233,294 |
| Millport | $22,776 | $48,560 | $88,520 | $157,900 | $240,552 |
| Sulligent | $20,050 | $45,075 | $83,820 | $139,680 | $217,820 |
| Vernon | $23,738 | $50,325 | $85,200 | $141,930 | $210,156 |
Source: Ownwell
Property Tax Bills Across Lamar County, Alabama
In Lamar County, Alabama, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the county is $83,780. Homeowners' tax bills are influenced by several factors, including the assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile tax bill is $116, while the 75th percentile is $456, and the 90th percentile is $704. These figures illustrate the range of property tax burdens that homeowners might face. Comparing this to the national median property tax rate of 0.99%, Lamar County's tax bills are relatively modest. The highest median tax bill in the county is $270 in Millport, while the lowest is $206 in Beaverton. These variations can significantly impact homeowners' finances, making it crucial for property owners to understand how their tax bills are determined and to explore any available exemptions to potentially reduce their tax liability.
Average Lamar County Tax Bill
$248
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamar County, Alabama
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverton | $46 | $104 | $206 | $395 | $679 |
| Detroit | $36 | $109 | $233 | $451 | $673 |
| Fayette | $57 | $107 | $215 | $348 | $494 |
| Guin | N/A | N/A | N/A | N/A | N/A |
| Hamilton | $78 | $145 | $256 | $366 | $433 |
| Kennedy | $58 | $110 | $242 | $455 | $743 |
| Millport | $49 | $129 | $270 | $470 | $706 |
| Sulligent | $35 | $104 | $232 | $443 | $706 |
| Vernon | $44 | $125 | $268 | $472 | $723 |
Source: Ownwell