Pike Road, Alabama Property Taxes
The median property tax rate in Pike Road, AL is 0.68%, which is lower than the national median of 0.99% but higher than Alabama's state median of 0.47%. With a median home value of $359,900 in Pike Road, the typical annual property tax bill amounts to $2,530, which is below the national median of $2,690. Property taxes in Pike Road are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Pike Road'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 Pike Road 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
Pike Road, 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 Pike Road Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pike Road with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pike Road 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 Montgomery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pike Road, Alabama
Property taxes in Pike Road, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pike Road is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Pike Road set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pike Road 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. Understanding how Pike Road's effective property tax rate compares to the national median provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to other areas.
Average Pike Road Tax Rate
0.68%
Average Montgomery County Tax Rate
0.48%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pike Road, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36064 | 0.47% | 0.67% | 0.68% | 0.68% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Pike Road, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pike Road, Alabama. The market value represents 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 Pike Road, 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. For instance, the median home price in Pike Road is $359,900, with tax bills ranging from $1,854 at the 25th percentile to $4,462 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pike Road Assessed Value
$359,900
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 Pike Road, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36064 | $170,380 | $271,000 | $359,900 | $462,700 | $576,720 |
Source: Ownwell
Property Tax Bills Across Pike Road, Alabama
In Pike Road, Montgomery County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the home's market value, the assessment ratio set by the county, and any applicable exemptions or deductions. For example, in Pike Road, the median home price is $359,900. Homeowners in the 25th percentile can expect a tax bill around $1,854, while those in the 75th percentile might see a bill of approximately $3,353. At the 90th percentile, the tax bill can reach up to $4,462. The highest median tax bill in the area is $2,530, found in the 36064 zip code. These property taxes play a significant role in homeowners' annual expenses, impacting their overall financial planning and the affordability of homeownership in the region. Compared to the national median property tax rate of 0.99%, Pike Road’s property tax rates can vary, affecting how much homeowners ultimately pay.
Average Pike Road Tax Bill
$2,530
Average Montgomery County Tax Bill
$782
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Pike Road, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36064 | $1,095 | $1,854 | $2,530 | $3,353 | $4,462 |
Source: Ownwell