Mooresville, Alabama Property Taxes
The median property tax rate in Mooresville, AL is 0.49%, slightly higher than the Alabama state median of 0.47% but still below the national median of 0.99%. With a median home value of $326,250 in Mooresville, the typical annual property tax bill amounts to $1,506, which is significantly lower than the national median of $2,690. Property taxes in Mooresville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Mooresville'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 Mooresville 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
Mooresville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,599
$1,483
Ownwell’s Mooresville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mooresville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooresville 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 Mooresville, Alabama
Property taxes in Mooresville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooresville is 0.49%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Mooresville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresville 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 Mooresville's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35649 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Mooresville provides valuable insights into the varying tax landscape across Limestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooresville Tax Rate
0.49%
Average Limestone County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooresville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35649 | 0.40% | 0.43% | 0.49% | 0.53% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Mooresville, Alabama
In Mooresville, 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 Limestone 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 Mooresville, 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. The median home price in Mooresville is $326,250. The median tax bill for the 25th percentile is $864, while the 75th percentile median tax bill is $2,358. 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 Mooresville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mooresville Assessed Value
$326,250
Average Limestone County Assessed Value
$202,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooresville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35649 | $120,010 | $201,750 | $326,250 | $452,750 | $642,400 |
Source: Ownwell
Property Tax Bills Across Mooresville, Alabama
In Mooresville, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is typically a percentage of the market value of the property. For homeowners in Limestone County, the median home price is $326,250. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Mooresville, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $864, while the 75th percentile tax bill rises to $2,358. The 90th percentile tax bill can reach up to $3,557, indicating a wide range of possible tax burdens for homeowners. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, understanding how these taxes are calculated can help homeowners budget effectively and anticipate their financial obligations.
Average Mooresville Tax Bill
$1,506
Average Limestone County Tax Bill
$871
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35649 | $740 | $864 | $1,506 | $2,358 | $3,557 |
Source: Ownwell