Eldridge, Alabama Property Taxes
The median property tax rate in Eldridge, Alabama is 0.24%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Eldridge, the typical annual property tax bill is $287, well below the national median of $2,690. Property taxes in Eldridge 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 Eldridge'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 Eldridge 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
Eldridge, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$232
$215
Ownwell’s Eldridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldridge 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 Eldridge, Alabama
Property taxes in Eldridge, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldridge is 0.33%, which is higher than the Alabama state median of 0.33% but significantly lower than the U.S. national median of 0.99%. Local government entities within Eldridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldridge 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 Eldridge's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the region is 0.65%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Eldridge provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldridge Tax Rate
0.24%
Average Marion County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35554 | 0.17% | 0.21% | 0.24% | 0.31% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Eldridge, Alabama
In Eldridge, 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 Marion 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 Eldridge, 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 Eldridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eldridge are both $287, specifically in the 35554 zip code.
Average Eldridge Assessed Value
$96,540
Average Marion County Assessed Value
$95,335
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35554 | $44,128 | $57,900 | $96,540 | $133,940 | $179,408 |
Source: Ownwell
Property Tax Bills Across Eldridge, Alabama
In Eldridge, located in Marion County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the home's market value, which in Eldridge has a median home price of $96,540. Homeowners can expect their tax bills to vary widely depending on their property's assessed value and the applicable tax rate. For example, tax bills in the 25th percentile are around $148, while those in the 75th percentile reach up to $434, and in the 90th percentile, they can go as high as $637. These values illustrate the range of property tax burdens homeowners might face. The property tax rate in Eldridge is influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Homeowners in Eldridge benefit from relatively lower property tax rates compared to the national median property tax rate of 0.99%, making it an attractive location for those looking to manage their living expenses effectively.
Average Eldridge Tax Bill
$287
Average Marion County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35554 | $71 | $148 | $287 | $434 | $637 |
Source: Ownwell