Grady, Alabama Property Taxes
The median property tax rate in Grady, AL is 0.38%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Grady, the typical annual property tax bill reaches $484, significantly below the national median of $2,690. Property taxes in Grady 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 Grady'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 Grady 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
Grady, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$434
$403
Ownwell’s Grady Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Grady with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Grady to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Grady, Alabama
Property taxes in Grady, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grady is 0.31%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Grady set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grady 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 Grady'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 0.41%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Grady provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grady Tax Rate
0.38%
Average Montgomery County Tax Rate
0.48%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | 0.24% | 0.34% | 0.38% | 0.42% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Grady, Alabama
In Grady, 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 Montgomery 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 Grady, 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 Grady helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Grady is $114,300, with the highest median tax bill being $484.00 in zip code 36036.
Average Grady Assessed Value
$114,300
Average Montgomery County Assessed Value
$131,500
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | $40,260 | $71,000 | $114,300 | $218,000 | $355,100 |
Source: Ownwell
Property Tax Bills Across Grady, Alabama
In Grady, property tax bills are calculated by assessing the value of the property and then applying the local tax rate. The assessed value is determined by the local assessor's office, which considers factors like the property's market value, location, and any improvements made. Once the assessed value is established, the local tax rate is applied to determine the tax bill. For example, with a median home price of $114,300, homeowners in Grady might see a variety of tax bills. The 25th percentile tax bill is $288, while the 75th percentile tax bill is $853, and the 90th percentile tax bill reaches $1,371. This variability can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners in Grady better anticipate their annual tax obligations and plan accordingly.
Average Grady Tax Bill
$484
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Grady, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36036 | $157 | $288 | $484 | $853 | $1,371 |
Source: Ownwell