Trinity, Lawrence County, Alabama Property Taxes
The median property tax rate in Trinity, AL is 0.29%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Trinity at $148,400, the typical annual property tax bill is $492, well below the national median of $2,690. Property taxes in Trinity are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Trinity'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 Trinity 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
Trinity, Lawrence County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$430
$399
Ownwell’s Trinity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trinity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trinity 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 Trinity, Lawrence County, Alabama
Property taxes in Trinity, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trinity is 0.29%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Trinity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trinity 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 Trinity's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in Shelby County at 0.54%, while the lowest median tax rate is in Crenshaw County at 0.17%. Understanding how these cities compare with Trinity provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trinity Tax Rate
0.29%
Average Lawrence County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trinity, Lawrence County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35673 | 0.23% | 0.28% | 0.29% | 0.56% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Trinity, Lawrence County, Alabama
In Trinity, 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 Lawrence 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 Trinity, 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 Trinity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 35673 has the highest and lowest median tax bill, both at $492.
Property Tax Assessment Values Across Trinity, Lawrence County, Alabama
Source: Ownwell
$73,200
$224,875
$376,550
Average Trinity Assessed Value
$148,400
Average Lawrence County Assessed Value
$132,500
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trinity, Lawrence County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35673 | $40,980 | $79,450 | $148,400 | $217,800 | $297,469 |
Source: Ownwell
Property Tax Bills Across Trinity, Lawrence County, Alabama
In Trinity, Lawrence County, AL, 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 Trinity is $148,400. Homeowners in this area typically see property tax bills ranging from $287 at the 25th percentile to $1,012 at the 90th percentile. The median property tax bill is $492, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. Property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Lower property tax bills in Trinity can make homeownership more affordable, but they also mean less revenue for local services compared to areas with higher property taxes. Understanding these factors can help homeowners anticipate their annual expenses and plan accordingly.
Average Trinity Tax Bill
$492
Average Lawrence County Tax Bill
$474
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Trinity, Lawrence County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35673 | $154 | $287 | $492 | $720 | $1,012 |
Source: Ownwell