Harvest, Alabama Property Taxes
The median property tax rate in Harvest, AL is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Harvest at $247,400, the typical annual property tax bill is $931, well below the national median of $2,690. Property taxes in Harvest are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Harvest's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Harvest or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harvest, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$841
$781
Ownwell’s Harvest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harvest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harvest 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 Harvest, Alabama
Property taxes in Harvest, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harvest is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Harvest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harvest 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 Harvest's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35801 zip code has the highest median property tax rate of 0.56%, while the 35203 zip code has the lowest median tax rate of 0.26%. Understanding how these cities compare with Harvest 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 Harvest Tax Rate
0.34%
Average Madison County Tax Rate
0.56%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harvest, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35749 | 0.29% | 0.34% | 0.34% | 0.36% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Harvest, Alabama
In Harvest, 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 Harvest, 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 instance, the highest median tax bill in Harvest is $931 in the zip code 35749, which is also the lowest median tax bill in the area. 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 Harvest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harvest Assessed Value
$247,400
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 Harvest, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35749 | $137,720 | $192,200 | $247,400 | $320,300 | $439,890 |
Source: Ownwell
Property Tax Bills Across Harvest, Alabama
In Harvest, Madison County, AL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For example, with a median home price of $247,400, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $702, while those in the 75th percentile might see bills as high as $1,357. The 90th percentile tax bill reaches up to $1,828. These property tax bills are influenced by various factors, including the property's size, location, and any applicable exemptions. The local tax rate in Harvest is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means that local governments may have less revenue for public services. Homeowners should be aware of these factors as they directly impact their annual tax obligations and overall cost of living.
Average Harvest Tax Bill
$931
Average Madison County Tax Bill
$1,321
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Harvest, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35749 | $513 | $702 | $931 | $1,357 | $1,828 |
Source: Ownwell