Pike County, Alabama Property Taxes
The median property tax rate in Pike County is 0.35%, which is significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Pike County at $106,920, the typical annual property tax bill is $420, far below the national median of $2,690. Property taxes in Pike County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Pike County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Troy or another part of Pike County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pike County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$374
$347
Ownwell’s Pike County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Pike County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Pike County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Pike County, Alabama
Property taxes in Pike County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Pike County is 0.35%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Pike County set these rates annually, and they can vary significantly between different areas within the county. Each year, Pike County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Austin has one of the higher property tax rates in Texas at 2.23%, while the city of Houston boasts one of the lowest at 1.82%. Analyzing how Pike County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Pike County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Pike County, Alabama
In Pike County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Pike County Appraisal District. The assessed value, however, 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. Assessment notices in Pike County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the highest median tax bill in the county is $518 in the city of Troy, while the lowest median tax bill is $167 in Ramer. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Pike County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Pike County Assessed Value
$106,920
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pike County, Alabama
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Banks | $29,560 | $56,010 | $97,000 | $159,630 | $250,644 |
| Brundidge | $18,490 | $39,980 | $66,930 | $111,995 | $194,646 |
| Glenwood | $23,000 | $39,305 | $66,140 | $137,770 | $254,522 |
| Goshen | $26,000 | $43,820 | $77,570 | $134,105 | $235,236 |
| Luverne | $19,780 | $29,450 | $81,130 | $125,485 | $259,496 |
| Ramer | $24,540 | $33,100 | $57,720 | $104,315 | $178,286 |
| Troy | $33,394 | $64,475 | $126,430 | $193,745 | $270,920 |
Source: Ownwell
Property Tax Bills Across Pike County, Alabama
In Pike County, AL, property tax bills are determined based on the assessed value of a home, which is a percentage of the market value. The county's tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $106,920, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $191, while the 75th percentile reaches up to $725. At the higher end, the 90th percentile tax bill is $1,071. Several factors influence these tax amounts, including property location, home improvements, and any applicable exemptions. Homeowners in Troy experience the highest median tax bill at $518, whereas those in Ramer enjoy the lowest at $167. Compared to the national median property tax rate of 0.99%, Pike County offers relatively affordable property taxes, which can significantly affect homeowners' annual expenses, making the region an attractive option for those looking to manage their living costs effectively.
Average Pike County Tax Bill
$420
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690