Minter, Alabama Property Taxes
The median property tax rate in Minter, Alabama is 0.40%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Minter at $114,760, the typical annual property tax bill reaches $518, significantly below the national median of $2,690. Property taxes in Minter 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 Minter'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 Minter 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
Minter, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$459
$426
Ownwell’s Minter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minter 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 Minter, Alabama
Property taxes in Minter, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minter is 0.40%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Minter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minter 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 Minter's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 36761 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Minter 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 Minter Tax Rate
0.40%
Average Lowndes County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minter, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36761 | 0.23% | 0.31% | 0.40% | 0.45% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Minter, Alabama
In Minter, 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 Lowndes 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 Minter, 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 Minter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $518, which falls in the zip code 36761.
Average Minter Assessed Value
$114,760
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 Minter, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36761 | $50,289 | $59,515 | $114,760 | $224,888 | $294,174 |
Source: Ownwell
Property Tax Bills Across Minter, Alabama
In Minter, Lowndes County, AL, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $114,760, homeowners can expect varying tax bills depending on their property's specific assessed value and the applicable tax rate. Factors such as property location within the county, property type, and any applicable exemptions can influence the final tax amount. In Lowndes County, the 25th percentile of tax bills is around $250, while the 75th percentile reaches up to $943. The top 10% of tax bills can go as high as $1,442. Compared to the national median property tax rate of 0.99%, the rates in Minter can significantly impact homeowners, especially those with higher-valued properties or fewer exemptions. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Minter Tax Bill
$518
Average Lowndes County Tax Bill
$581
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Minter, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36761 | $156 | $250 | $518 | $943 | $1,442 |
Source: Ownwell