Valley, Alabama Property Taxes
The median property tax rate in Valley, AL is 0.38%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $216,120 in Valley, the typical annual property tax bill is approximately $752, well below the national median of $2,690. Property taxes in Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Valley'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 Valley or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valley, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$821
Ownwell’s Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley 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 Valley, Alabama
Property taxes in Valley, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley is 0.32%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley 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 Valley's effective property tax rate to other counties in Alabama and the national median. For comparison, 36854 has the highest median property tax rate of 0.33%, while 36863 has the lowest median tax rate of 0.32%. Understanding how these cities compare with Valley provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valley Tax Rate
0.38%
Average Lee County Tax Rate
0.52%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36854 | 0.17% | 0.28% | 0.38% | 0.41% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Valley, Alabama
In Valley, 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 Lee 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 Valley, 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 Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Valley is $752 in the 36854 zip code, while the lowest is also $752 in the same zip code.
Average Valley Assessed Value
$216,120
Average Lee County Assessed Value
$237,000
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36854 | $63,440 | $134,700 | $216,120 | $308,420 | $438,208 |
Source: Ownwell
Property Tax Bills Across Valley, Alabama
In Valley, located in Lee 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 Valley is $216,120. Property taxes are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions. Homeowners in Valley can expect tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $392, while those at the 75th percentile reach $1,169. The highest median tax bill in the area is $752, found in the zip code 36854. These figures are considerably lower than the national median property tax rate of 0.99%, offering some financial relief to homeowners in Valley. The variability in tax bills means that homeowners need to be aware of how their property's assessed value and applicable exemptions impact their tax obligations, ensuring they are not overpaying and can budget accordingly.
Average Valley Tax Bill
$752
Average Lee County Tax Bill
$1,329
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36854 | $182 | $392 | $752 | $1,169 | $1,843 |
Source: Ownwell