Cherokee Ridge, Alabama Property Taxes
The median property tax rate in Cherokee Ridge, AL is 0.41%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Cherokee Ridge at $386,200, the typical annual property tax bill reaches $1,540, which is well below the national median of $2,690. Property taxes in Cherokee Ridge are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cherokee Ridge'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 Cherokee Ridge 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
Cherokee Ridge, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,583
Ownwell’s Cherokee Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherokee Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherokee Ridge 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 Cherokee Ridge, Alabama
Property taxes in Cherokee Ridge, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cherokee Ridge is 0.41%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Cherokee Ridge set these rates annually, and they can vary across different neighborhoods. Each year, Cherokee Ridge 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 Cherokee Ridge's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35175 has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these areas compare with Cherokee Ridge 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 Cherokee Ridge Tax Rate
0.41%
Average Marshall County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherokee Ridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35175 | 0.32% | 0.36% | 0.41% | 0.42% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Cherokee Ridge, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cherokee Ridge, Alabama. 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. Assessment notices in Cherokee Ridge 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 Cherokee Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cherokee Ridge are both $1,540, found in the zip code 35175.
Average Cherokee Ridge Assessed Value
$386,200
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 Cherokee Ridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35175 | $222,880 | $296,050 | $386,200 | $486,300 | $653,560 |
Source: Ownwell
Property Tax Bills Across Cherokee Ridge, Alabama
In Cherokee Ridge, Marshall County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county's tax assessor. Several factors influence this assessed value, including the property's location, size, and condition. Homeowners in Cherokee Ridge can expect property tax bills to vary significantly, with the 25th percentile tax bill around $1,100 and the 75th percentile reaching approximately $2,201. The highest median tax bill in the area is $1,540, located in ZIP code 35175. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Cherokee Ridge's property tax rates are relatively moderate. Understanding how these taxes are calculated and what factors are considered can help homeowners better anticipate and manage their annual property tax expenses.
Average Cherokee Ridge Tax Bill
$1,540
Average Marshall County Tax Bill
$654
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherokee Ridge, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35175 | $708 | $1,100 | $1,540 | $2,201 | $3,681 |
Source: Ownwell