Valhermoso Springs, Alabama Property Taxes
The median property tax rate in Valhermoso Springs, AL is 0.36%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $99,100 in Valhermoso Springs, the typical annual property tax bill is $447, which is well below the national median of $2,690. Property taxes in Valhermoso Springs 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 Valhermoso Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Valhermoso Springs 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
Valhermoso Springs, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$357
$331
Ownwell’s Valhermoso Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valhermoso Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valhermoso Springs 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 Valhermoso Springs, Alabama
Property taxes in Valhermoso Springs, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valhermoso Springs is 0.36%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Valhermoso Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valhermoso Springs 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 Valhermoso Springs' property tax rates compare with other areas provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valhermoso Springs Tax Rate
0.36%
Average Morgan County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valhermoso Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35775 | 0.22% | 0.31% | 0.36% | 0.53% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Valhermoso Springs, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Valhermoso Springs, Alabama. 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 Morgan 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 Valhermoso Springs, 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 Valhermoso Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 35775 has the highest and lowest median tax bill at $447, reflecting the local property tax landscape.
Property Tax Assessment Values Across Valhermoso Springs, Alabama
Source: Ownwell
$87,150
$206,800
$326,450
Average Valhermoso Springs Assessed Value
$99,100
Average Morgan County Assessed Value
$149,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valhermoso Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35775 | $33,960 | $54,900 | $99,100 | $199,600 | $307,680 |
Source: Ownwell
Property Tax Bills Across Valhermoso Springs, Alabama
In Valhermoso Springs, located in Morgan County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. Homeowners in Valhermoso Springs experience a range of property tax bills, with the 25th percentile at $224 and the 75th percentile reaching $747, while the 90th percentile can go up to $1,229. The median home price in this area is $99,100, which influences the overall tax bill. Factors such as property size, location, and any applicable exemptions play a significant role in determining the final tax amount. For instance, the highest and lowest median tax bills in the region are both $447, indicating a level of consistency in valuations. Compared to the national median property tax rate of 0.99%, homeowners in Valhermoso Springs may find their property tax rates relatively manageable. These taxes directly affect homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby impacting the community's quality of life.
Average Valhermoso Springs Tax Bill
$447
Average Morgan County Tax Bill
$697
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Valhermoso Springs, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35775 | $109 | $224 | $447 | $747 | $1,229 |
Source: Ownwell