Mathews, Alabama Property Taxes
The median property tax rate in Mathews, Alabama 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 Mathews, the typical annual property tax bill reaches $1,514, well below the national median of $2,690. Property taxes in Mathews are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mathews' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mathews 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
Mathews, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Mathews Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mathews with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mathews 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 Mathews, Alabama
Property taxes in Mathews, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mathews is 0.33%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Mathews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mathews 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 Mathews' 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 36703 zip code has the lowest median tax rate of 0.31%. Understanding how these cities compare with Mathews provides valuable insights into the varying tax landscape across Montgomery, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mathews 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 Mathews, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36052 | 0.21% | 0.34% | 0.39% | 0.41% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Mathews, Alabama
In Mathews, 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 Mathews, 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 Mathews helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 36052 has the highest and lowest median tax bill, both at $1,514.
Average Mathews Assessed Value
$409,100
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 Mathews, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36052 | $114,600 | $251,150 | $409,100 | $563,650 | $813,300 |
Source: Ownwell
Property Tax Bills Across Mathews, Alabama
In Mathews, located in Montgomery County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Mathews is $409,100. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $878 and the 75th percentile at $2,120. For those in the 90th percentile, the tax bill can reach up to $3,423. The highest and lowest median tax bills in the area both stand at $1,514, specifically in the zip code 36052. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These tax bills directly impact homeowners by affecting their annual expenses. While the national median property tax rate is 0.99%, homeowners in Mathews may find their rates and bills vary based on local assessments and policies. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Mathews Tax Bill
$1,514
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Mathews, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36052 | $390 | $878 | $1,514 | $2,120 | $3,423 |
Source: Ownwell