Graham, Alabama Property Taxes
The median property tax rate in Graham, AL is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $119,635 in Graham, the typical annual property tax bill amounts to $375, well below the national median of $2,690. Property taxes in Graham are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Graham'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 Graham or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graham, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$371
Ownwell’s Graham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graham 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 Graham, Alabama
Property taxes in Graham, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graham is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Graham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graham 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 Graham's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35209 zip code has the highest median property tax rate of 0.77%, while the 36530 zip code has the lowest median tax rate of 0.20%. Understanding how these cities compare with Graham provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graham Tax Rate
0.31%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graham, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36263 | 0.20% | 0.24% | 0.31% | 0.42% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Graham, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Graham, Alabama. 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 Randolph 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 Graham, 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 Graham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 36263 has both the highest and lowest median tax bills at $375.
Average Graham Assessed Value
$119,635
Average Randolph County Assessed Value
$99,646
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graham, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36263 | $36,816 | $62,162 | $119,635 | $211,918 | $344,386 |
Source: Ownwell
Property Tax Bills Across Graham, Alabama
In Graham, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For example, if the market value of a home is $119,635, this value is used as a base to determine the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Graham can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is around $215, while at the 75th percentile, it rises to approximately $621. For those at the higher end, the 90th percentile tax bill can reach up to $1,022. Compared to the national median property tax rate of 0.99%, Graham's property tax rates can significantly impact household budgets, especially for those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Graham Tax Bill
$375
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Graham, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36263 | $116 | $215 | $375 | $621 | $1,022 |
Source: Ownwell