Highland Home, Alabama Property Taxes
The median property tax rate in Highland Home, AL is 0.39%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Highland Home at $134,200, the typical annual property tax bill is $823, which is well below the national median of $2,690. Property taxes in Highland Home are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Highland Home'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 Highland Home 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
Highland Home, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$523
$486
Ownwell’s Highland Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Highland Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highland Home 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 Highland Home, Alabama
Property taxes in Highland Home, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highland Home is 0.23%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Highland Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highland Home 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 Highland Home's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35203 zip code has the highest median property tax rate of 0.66%, while the 36862 zip code has the lowest median tax rate of 0.21%. Understanding how these cities compare with Highland Home provides valuable insights into the varying tax landscape across Crenshaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highland Home Tax Rate
0.39%
Average Montgomery County Tax Rate
0.48%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | 0.38% | 0.38% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Highland Home, Alabama
In Highland Home, 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 Highland Home, 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. The highest median tax bill in Highland Home is $823 in the 36041 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Highland Home Assessed Value
$134,200
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 Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | $91,720 | $106,300 | $134,200 | $191,900 | $217,400 |
Source: Ownwell
Property Tax Bills Across Highland Home, Alabama
In Highland Home, located in Montgomery County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. For homeowners in Highland Home, the median home price is $134,200. The property tax rate in this area is relatively low compared to the national median property tax rate of 0.99%. Homeowners can expect a tax bill ranging from $780 at the 25th percentile to $893 at the 90th percentile. The highest median tax bill recorded in the area is $823, which is consistent across the zip code 36041. This consistent tax rate ensures that homeowners have a predictable expense, aiding in financial planning. Property taxes in Highland Home are an important consideration for homeowners, influencing both the affordability and overall cost of owning a home in this region.
Average Highland Home Tax Bill
$823
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Highland Home, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36041 | $754 | $780 | $823 | $867 | $893 |
Source: Ownwell