Millport, Alabama Property Taxes
The median property tax rate in Millport, Alabama is 0.32%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $83,440 in Millport, the typical annual property tax bill amounts to $253, which is well below the national median of $2,690. Property taxes in Millport are calculated based on the tax assessed value, generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Millport'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 Millport or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millport, 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 Millport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millport 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 Millport, Alabama
Property taxes in Millport, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millport is 0.32%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Millport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millport 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 Millport'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 Shelby County at 0.43%, while the lowest median tax rate is in Crenshaw County at 0.16%. Understanding how these cities compare with Millport 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 Millport Tax Rate
0.32%
Average Pickens County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millport, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35576 | 0.22% | 0.27% | 0.32% | 0.46% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Millport, Alabama
In Millport, 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 Millport, 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 Millport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Millport are both $253, found in the zip code 35576, offering a consistent perspective on property tax expectations within the area.
Average Millport Assessed Value
$83,440
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 Millport, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35576 | $28,960 | $48,915 | $83,440 | $121,040 | $195,654 |
Source: Ownwell
Property Tax Bills Across Millport, Alabama
In Millport, 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 local tax rate is then applied to this assessed value to determine the tax bill. For example, if a property has a median home price of $83,440, the assessed value would be a fraction of this amount, and the tax rate would be applied accordingly. Several factors influence the final tax bill, including property improvements, location, and local government budgets. Homeowners in Millport can expect their tax bills to fall within a range, with the 25th percentile at $170 and the 75th percentile at $447. The 90th percentile tax bill reaches up to $666, indicating that higher-value properties or those with significant improvements will face higher taxes. Compared to the national median property tax rate of 0.99%, Millport's property taxes are relatively moderate. Understanding these factors helps homeowners budget effectively and anticipate their annual property tax obligations.
Average Millport Tax Bill
$253
Average Pickens County Tax Bill
$403
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Millport, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35576 | $120 | $170 | $253 | $447 | $666 |
Source: Ownwell