Tanner, Alabama Property Taxes
The median property tax rate in Tanner, AL is 0.43%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Tanner at $154,500, the typical annual property tax bill is $646, which is far below the national median of $2,690. Property taxes in Tanner are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tanner'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 Tanner 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
Tanner, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$664
Ownwell’s Tanner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tanner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tanner 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 Tanner, Alabama
Property taxes in Tanner, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tanner is 0.43%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Tanner set these rates annually, and they can vary across different neighborhoods. Each year, Tanner 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 Tanner's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35671 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Tanner 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 Tanner Tax Rate
0.43%
Average Limestone County Tax Rate
0.42%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tanner, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35671 | 0.19% | 0.35% | 0.43% | 0.67% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Tanner, Alabama
In Tanner, 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 Tanner, 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 Tanner is $154,500, with tax bills ranging significantly. The 25th percentile tax bill is $344, while the 75th percentile tax bill is $1,271, and the 90th percentile tax bill reaches $2,099. The zip code 35671 has the highest and lowest median tax bill at $646. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tanner Assessed Value
$154,500
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 Tanner, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35671 | $42,740 | $82,300 | $154,500 | $300,900 | $458,840 |
Source: Ownwell
Property Tax Bills Across Tanner, Alabama
In Tanner, located in Limestone County, AL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value and, consequently, the tax bill. For instance, with a median home price of $154,500, homeowners in Tanner might see varying tax bills. At the 25th percentile, tax bills are around $344, while those at the 75th percentile reach approximately $1271. The 90th percentile tax bills can go as high as $2099. Comparatively, the national median property tax rate is 0.99%, which means homeowners in Tanner may experience relatively lower tax burdens. This variability in tax bills can significantly affect homeowners' financial planning and long-term investment decisions, making it crucial to understand the local property tax landscape.
Average Tanner Tax Bill
$646
Average Limestone County Tax Bill
$871
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tanner, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35671 | $168 | $344 | $646 | $1,271 | $2,099 |
Source: Ownwell