Hope Hull, Alabama Property Taxes
The median property tax rate in Hope Hull, AL is 0.42%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hope Hull, the typical annual property tax bill reaches $850, well below the national median of $2,690. Property taxes in Hope Hull are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hope Hull'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 Hope Hull 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
Hope Hull, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$878
$814
Ownwell’s Hope Hull Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hope Hull with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hope Hull 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 Hope Hull, Alabama
Property taxes in Hope Hull, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hope Hull is 0.42%, significantly lower than the U.S. national median of 0.99%. Local government entities within Hope Hull set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hope Hull 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 Hope Hull's effective property tax rate to other areas in Alabama and the national median. For comparison, the 36043 zip code has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Hope Hull provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hope Hull Tax Rate
0.42%
Average Lowndes County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hope Hull, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36043 | 0.28% | 0.37% | 0.42% | 0.45% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Hope Hull, Alabama
In Hope Hull, 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 local 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 Hope Hull, 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 Hope Hull helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $850 in zip code 36043, indicating a uniformity in property tax burdens across different properties.
Average Hope Hull Assessed Value
$208,980
Average Lowndes County Assessed Value
$118,330
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hope Hull, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36043 | $93,790 | $135,510 | $208,980 | $291,070 | $458,680 |
Source: Ownwell
Property Tax Bills Across Hope Hull, Alabama
In Hope Hull, Lowndes County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For homeowners in Hope Hull, the median home price is $208,980. Property tax bills can vary significantly, with the 25th percentile tax bill at $534 and the 75th percentile at $1,207. For those at the 90th percentile, tax bills can reach up to $1,890. The highest and lowest median tax bills in the area are both $850, reflecting a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, homeowners in Hope Hull may find their property tax bills to be quite manageable. Understanding these factors helps homeowners anticipate their annual property tax expenses and budget accordingly.
Average Hope Hull Tax Bill
$850
Average Lowndes County Tax Bill
$581
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hope Hull, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36043 | $342 | $534 | $850 | $1,207 | $1,890 |
Source: Ownwell