Indian Springs, Shelby County, Alabama Property Taxes
The median property tax rate in Indian Springs, AL is 0.43%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Indian Springs at $468,480, the typical annual property tax bill reaches $1,928, significantly below the national median of $2,690. Property taxes in Indian Springs are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Indian Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Indian Springs 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
Indian Springs, Shelby County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$2,014
$1,869
Ownwell’s Indian Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Indian Springs with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Indian Springs to project your property tax bill. This valuable tool helps you comprehend potential tax liabilities. For those interested in more granular trends at the neighborhood level, further localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Indian Springs, Shelby County, Alabama
Property taxes in Indian Springs, Alabama, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Indian Springs is 0.43%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Indian Springs set these rates annually, and they can vary across different neighborhoods. Each year, Indian Springs 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 Indian Springs' effective property tax rate to other counties in Alabama and the national median. For comparison, the 35124 zip code has the highest median property tax rate of 0.43%, while the 35124 zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Indian Springs provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Indian Springs Tax Rate
0.43%
Average Shelby County Tax Rate
0.48%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indian Springs, Shelby County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35124 | 0.18% | 0.37% | 0.43% | 0.43% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Indian Springs, Shelby County, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Indian Springs, 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 local 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 Indian Springs, 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. The median home price in the area is $468,480, with tax bills ranging from $1,407 at the 25th percentile to $3,915 at the 90th percentile. The highest median tax bill in the region is $1,928 in zip code 35124. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Indian Springs, Shelby County, Alabama
Source: Ownwell
$175,500
$572,468
$969,435
Average Indian Springs Assessed Value
$468,480
Average Shelby County Assessed Value
$249,060
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Indian Springs, Shelby County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35124 | $277,360 | $361,610 | $468,480 | $632,035 | $920,570 |
Source: Ownwell
Property Tax Bills Across Indian Springs, Shelby County, Alabama
In Indian Springs, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. This assessed value is a percentage of the property's market value. Shelby County, where Indian Springs is located, uses this assessed value to determine the tax bill by applying the local tax rate. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Indian Springs can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $1,407, while the 75th percentile tax bill is $2,609, and the 90th percentile tax bill can reach up to $3,915. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Homeowners should be aware that their tax obligations can fluctuate based on changes in property values and local tax rates, potentially impacting their annual financial planning.
Average Indian Springs Tax Bill
$1,928
Average Shelby County Tax Bill
$1,229
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Indian Springs, Shelby County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35124 | $676 | $1,407 | $1,928 | $2,609 | $3,915 |
Source: Ownwell