Vinemont, Alabama Property Taxes
The median property tax rate in Vinemont, Alabama is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $87,150 in Vinemont, the typical annual property tax bill amounts to $333, well below the national median of $2,690. Property taxes in Vinemont 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 Vinemont'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 Vinemont 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
Vinemont, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$296
Ownwell’s Vinemont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vinemont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vinemont 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 Vinemont, Alabama
Property taxes in Vinemont, Alabama, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vinemont is 0.34%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Vinemont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vinemont 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 Vinemont's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the county has a rate of 0.53%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Vinemont 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 Vinemont Tax Rate
0.34%
Average Morgan County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vinemont, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35179 | 0.28% | 0.31% | 0.34% | 0.64% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Vinemont, Alabama
In Vinemont, 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 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 Vinemont, 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 Vinemont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Vinemont is $87,150, with tax bills ranging from $229 at the 25th percentile to $1,160 at the 90th percentile. The highest and lowest median tax bills are both $333, found in the 35179 zip code.
Average Vinemont Assessed Value
$87,150
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 Vinemont, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35179 | $36,420 | $57,350 | $87,150 | $164,450 | $272,810 |
Source: Ownwell
Property Tax Bills Across Vinemont, Alabama
In Vinemont, located in Morgan County, AL, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor's office. For homeowners in Vinemont, the median home price is $87,150. The property tax rate in this area can lead to varying tax bills, with the 25th percentile at $229 and the 75th percentile at $688. For those at the higher end, the 90th percentile tax bill reaches $1,160. The tax bill is influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These factors combine to determine the final amount homeowners are required to pay. Compared to the national median property tax rate of 0.99%, Vinemont's rates reflect a relatively moderate tax burden. This calculation impacts homeowners by affecting their annual housing costs, which in turn can influence decisions related to property investments and long-term financial planning.
Average Vinemont Tax Bill
$333
Average Morgan County Tax Bill
$697
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Vinemont, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35179 | $157 | $229 | $333 | $688 | $1,160 |
Source: Ownwell