Kennedy, Pickens County, Alabama Property Taxes
The median property tax rate in Kennedy, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $95,140 in Kennedy, the typical annual property tax bill is $295, well below the national median of $2,690. Property taxes in Kennedy are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kennedy's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kennedy or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kennedy, Pickens County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$285
$265
Ownwell’s Kennedy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kennedy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kennedy 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 Kennedy, Pickens County, Alabama
Property taxes in Kennedy, Alabama, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennedy stands at 0.30%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Kennedy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennedy 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 Kennedy's effective property tax rate compares to other regions and the national median provides valuable insights into the varying tax landscape across Pickens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kennedy Tax Rate
0.30%
Average Pickens County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennedy, Pickens County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | 0.20% | 0.26% | 0.30% | 0.34% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Kennedy, Pickens County, Alabama
In Kennedy, 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 Pickens 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 Kennedy, 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 Kennedy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $295.00 in zip code 35574, which is also the lowest, providing a consistent point of reference for homeowners.
Property Tax Assessment Values Across Kennedy, Pickens County, Alabama
Source: Ownwell
$36,220
$86,130
$136,040
Average Kennedy Assessed Value
$95,140
Average Pickens County Assessed Value
$97,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kennedy, Pickens County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | $36,740 | $58,020 | $95,140 | $142,120 | $231,444 |
Source: Ownwell
Property Tax Bills Across Kennedy, Pickens County, Alabama
In Kennedy, Pickens County, AL, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Kennedy is $95,140, and property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as local tax rates, property exemptions, and any applicable deductions are considered in the calculation. Homeowners in Kennedy can expect their tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $197, while those at the 75th percentile reach about $463. The 90th percentile tax bill can go up to $703. Compared to the national median property tax rate of 0.99%, Kennedy's tax rates are relatively modest, providing some financial relief to homeowners. This variability in tax bills affects homeowners differently, with higher-valued properties incurring higher taxes, potentially impacting their annual budget.
Average Kennedy Tax Bill
$295
Average Pickens County Tax Bill
$403
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennedy, Pickens County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | $125 | $197 | $295 | $463 | $703 |
Source: Ownwell