Lapine, Alabama Property Taxes
The median property tax rate in LaPine, Alabama is 0.39%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in LaPine being $98,500, the typical annual property tax bill reaches $464, significantly below the national median of $2,690. Property taxes in LaPine 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 LaPine'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 LaPine 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
Lapine, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$384
$356
Ownwell’s LaPine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LaPine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LaPine 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 Lapine, Alabama
Property taxes in LaPine, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LaPine is 0.33%, which is significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within LaPine set these rates annually, and they can vary significantly across different neighborhoods. Each year, LaPine 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 LaPine'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 found in Shelby County at 0.43%, while the lowest median tax rate is in Crenshaw County at 0.31%. Understanding how these cities compare with LaPine 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 Lapine 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 Lapine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36046 | 0.26% | 0.33% | 0.39% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Lapine, Alabama
In LaPine, 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 LaPine, 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. For instance, the median home price in LaPine is $98,500, with tax bills ranging from $239 at the 25th percentile to $1,356 at the 90th percentile. The highest and lowest median tax bill in the area is $464, both found in zip code 36046. 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 LaPine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lapine Assessed Value
$98,500
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 Lapine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36046 | $24,840 | $48,600 | $98,500 | $188,600 | $317,180 |
Source: Ownwell
Property Tax Bills Across Lapine, Alabama
In LaPine, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Homeowners in LaPine typically see tax bills falling between $239 and $737, with the 90th percentile reaching up to $1,356. The median home price in the area is $98,500, which influences the overall tax burden. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions. For instance, homeowners in Montgomery County, where LaPine is located, experience a median tax bill of $464, which is significantly lower than the national median property tax rate of 0.99%. This relatively lower tax rate can make homeownership more affordable, but it also means that local government services rely on a smaller revenue base. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Lapine Tax Bill
$464
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lapine, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36046 | $95 | $239 | $464 | $737 | $1,356 |
Source: Ownwell