Altoona, Alabama Property Taxes
The median property tax rate in Altoona, AL is 0.44%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Altoona, the typical annual property tax bill reaches $1,435, significantly below the national median of $2,690. Property taxes in Altoona 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 Altoona'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 Altoona 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
Altoona, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$993
Ownwell’s Altoona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Altoona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Altoona 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 Altoona, Alabama
Property taxes in Altoona, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Altoona is 0.44%, significantly lower than the U.S. national median of 0.99%. Local government entities within Altoona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Altoona 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 Altoona's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35952 zip code has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Altoona provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Altoona Tax Rate
0.44%
Average Marshall County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Altoona, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35952 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Altoona, Alabama
In Altoona, 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 Marshall 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 Altoona, 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 Altoona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 35952 has the highest and lowest median tax bill at $1,435.
Average Altoona Assessed Value
$225,722
Average Marshall County Assessed Value
$133,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Altoona, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35952 | $142,984 | $174,011 | $225,722 | $277,433 | $308,460 |
Source: Ownwell
Property Tax Bills Across Altoona, Alabama
Property tax bills in Altoona, located in Marshall County, AL, are determined based on the assessed value of a property. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. In Altoona, homeowners can expect a median tax bill of $1,435, which remains consistent across the 25th, 75th, and 90th percentiles. This figure is higher than the national median property tax rate of 0.99%, reflecting the local government's funding needs for public services such as schools, infrastructure, and emergency services. Several factors influence the property tax bill, including the property's location, size, and any applicable exemptions. Homeowners in the 35952 zip code, which includes Altoona, experience uniformity in their property tax bills, making it easier to predict annual expenses. Understanding how these factors interplay can help homeowners better manage their finances and anticipate future tax obligations. This stability in property tax rates can also impact the overall affordability and attractiveness of owning a home in Altoona.
Average Altoona Tax Bill
$1,435
Average Marshall County Tax Bill
$654
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Altoona, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35952 | $1,435 | $1,435 | $1,435 | $1,435 | $1,435 |
Source: Ownwell