Glenwood, Alabama Property Taxes
The median property tax rate in Glenwood, Alabama is 0.27%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Glenwood, the typical annual property tax bill is $218, far below the national median of $2,690. Property taxes in Glenwood 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 Glenwood'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 Glenwood 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
Glenwood, 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 Glenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood 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 Glenwood, Alabama
Property taxes in Glenwood, Alabama, play an essential role in funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Glenwood is 0.27%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Glenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood 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 Glenwood'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 Jefferson County at 0.66%, while the lowest median tax rate is in Perry County at 0.23%. Understanding how these cities compare with Glenwood provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Tax Rate
0.27%
Average Pike County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36034 | 0.14% | 0.20% | 0.27% | 0.34% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, Alabama
In Glenwood, 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 Pike 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 Glenwood, 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. The median home price in Glenwood is $66,140, with tax bills varying significantly. The 25th percentile tax bill is $95, while the 75th percentile tax bill is $470, and the 90th percentile tax bill reaches $724. 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 Glenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glenwood Assessed Value
$66,140
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 Glenwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36034 | $23,000 | $39,305 | $66,140 | $137,770 | $254,522 |
Source: Ownwell
Property Tax Bills Across Glenwood, Alabama
In Glenwood, located in Pike County, AL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Glenwood, the median home price is $66,140. Property tax bills can vary significantly, with the 25th percentile bill at $95 and the 75th percentile bill at $470. At the 90th percentile, homeowners might see tax bills as high as $724. Factors influencing these tax bills include property location, market trends, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Glenwood’s rates can offer substantial savings for homeowners. However, even within Glenwood, there are variations, with the highest median tax bill recorded at $218 in the zip code 36034, which also happens to be the lowest. This variability underscores the importance of understanding local property tax assessments and potential savings.
Average Glenwood Tax Bill
$218
Average Pike County Tax Bill
$420
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36034 | $53 | $95 | $218 | $470 | $724 |
Source: Ownwell