Gurley, Madison County, Alabama Property Taxes
The median property tax rate in Gurley, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Gurley at $259,300, the typical annual property tax bill is $946, well below the national median of $2,690. Property taxes in Gurley 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 Gurley'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 Gurley 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
Gurley, Madison County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$908
$842
Ownwell’s Gurley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gurley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gurley 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 Gurley, Madison County, Alabama
Property taxes in Gurley, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gurley is 0.35%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Gurley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gurley 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 Gurley's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in Shelby County at 0.47%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these counties compare with Gurley provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gurley Tax Rate
0.35%
Average Madison County Tax Rate
0.56%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gurley, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35748 | 0.28% | 0.32% | 0.35% | 0.57% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Gurley, Madison County, Alabama
In Gurley, 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 Madison 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 Gurley, 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. The median home price in Gurley is $259,300, with tax bills ranging from $469 at the 25th percentile to $3,884 at the 90th percentile. The highest and lowest median tax bills both stand at $946 in the 35748 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gurley, Madison County, Alabama
Source: Ownwell
$97,250
$226,775
$356,300
Average Gurley Assessed Value
$259,300
Average Madison County Assessed Value
$243,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gurley, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35748 | $60,080 | $118,250 | $259,300 | $480,500 | $696,440 |
Source: Ownwell
Property Tax Bills Across Gurley, Madison County, Alabama
In Gurley, Madison County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Gurley, the median home price stands at $259,300. Property tax bills can vary significantly, with the 25th percentile at $469 and the 75th percentile reaching up to $2,144. The 90th percentile even sees tax bills as high as $3,884. Compared to the national median property tax rate of 0.99%, Madison County's rates can be considered relatively moderate, with the highest median tax bill in the area being $946. These tax bills impact homeowners by contributing to the overall cost of homeownership, influencing decisions on buying, selling, or refinancing properties. Understanding these factors helps homeowners in Gurley plan their finances more effectively.
Average Gurley Tax Bill
$946
Average Madison County Tax Bill
$1,321
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gurley, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35748 | $242 | $469 | $946 | $2,144 | $3,884 |
Source: Ownwell