Tuskegee Institute, Macon County, Alabama Property Taxes
The median property tax rate in Tuskegee Institute, AL is 1.22%, significantly higher than both the national median of 0.99% and Alabama's state median of 0.47%. With the median home value in Tuskegee Institute at $59,400, the typical annual property tax bill amounts to $503, which is notably lower than the national median of $2,690. Property taxes in Tuskegee Institute are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Tuskegee Institute's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Tuskegee Institute or elsewhere in Macon County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tuskegee Institute, Macon County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$725
$672
Ownwell’s TUSKEGEE INSTITUTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TUSKEGEE INSTITUTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TUSKEGEE INSTITUTE 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 Tuskegee Institute, Macon County, Alabama
Property taxes in Tuskegee Institute, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tuskegee Institute is 1.22%, significantly higher than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Tuskegee Institute set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tuskegee Institute 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 Tuskegee Institute's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36088 zip code has the highest median property tax rate of 1.22%, while the same 36088 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Tuskegee Institute provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tuskegee Institute Tax Rate
1.22%
Average Macon County Tax Rate
0.52%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tuskegee Institute, Macon County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36088 | 0.49% | 0.52% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Tuskegee Institute, Macon County, Alabama
In TUSKEGEE INSTITUTE, 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 Macon 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 TUSKEGEE INSTITUTE, 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 TUSKEGEE INSTITUTE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $59,400, with the highest and lowest median tax bills both recorded at $503 in the 36088 zip code.
Property Tax Assessment Values Across Tuskegee Institute, Macon County, Alabama
Source: Ownwell
$39,000
$138,790
$238,580
Average Tuskegee Institute Assessed Value
$59,400
Average Macon County Assessed Value
$64,220
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tuskegee Institute, Macon County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36088 | $28,820 | $43,690 | $59,400 | $87,590 | $122,420 |
Source: Ownwell
Property Tax Bills Across Tuskegee Institute, Macon County, Alabama
In Tuskegee Institute, located in Macon County, AL, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in this area is $59,400. Property tax rates in Tuskegee Institute are influenced by various factors including local government budgets and public service funding needs. The median property tax rate stands at 0.99%, aligning with the national median. Homeowners in this region can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $298, while the 75th percentile reaches around $730. At the 90th percentile, homeowners may see tax bills as high as $1,032. The highest median tax bill recorded in the area is $503, which is also the lowest, indicating a narrow range in median tax bills within the zip code 36088. Understanding these factors helps homeowners anticipate their annual property tax obligations, ensuring they can budget accordingly and avoid unexpected financial strain.
Average Tuskegee Institute Tax Bill
$503
Average Macon County Tax Bill
$408
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tuskegee Institute, Macon County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36088 | $196 | $298 | $503 | $730 | $1,032 |
Source: Ownwell