Millbrook, Alabama Property Taxes
The median property tax rate in Millbrook, AL 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 Millbrook at $226,900, the typical annual property tax bill reaches $1,023, which is significantly below the national median of $2,690. Property taxes in Millbrook 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 Millbrook'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 Millbrook 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
Millbrook, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$885
Ownwell’s Millbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millbrook 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 Millbrook, Alabama
Property taxes in Millbrook, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millbrook is 0.39%, significantly lower than the U.S. national median of 0.99%. Local government entities within Millbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millbrook 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 Millbrook'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 Jefferson County at 0.63%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Millbrook provides valuable insights into the varying tax landscape across Elmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millbrook 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 Millbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36054 | 0.39% | 0.39% | 0.39% | 0.41% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Millbrook, Alabama
In Millbrook, 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 Millbrook, 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 Millbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,023, found in the 36054 zip code.
Average Millbrook Assessed Value
$226,900
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 Millbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36054 | $46,200 | $100,250 | $226,900 | $262,200 | $262,550 |
Source: Ownwell
Property Tax Bills Across Millbrook, Alabama
In Millbrook, 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 property's market value, determined by the county assessor. Various factors, including the property's location, size, and condition, influence this valuation. Homeowners in Millbrook experience property tax bills ranging from $787 at the 25th percentile to $1,025 at the 75th percentile, with the median tax bill being $1,023. This is notably higher than the national median property tax rate of 0.99%. Such tax bills can significantly impact homeowners, as they contribute to the overall cost of owning a home. Higher property taxes can affect affordability and may influence decisions regarding property improvements or sales. Understanding how these taxes are calculated and what factors are considered can help homeowners better manage their financial planning and property investments.
Average Millbrook Tax Bill
$1,023
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Millbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36054 | $427 | $787 | $1,023 | $1,025 | $1,026 |
Source: Ownwell