Meadowbrook, Alabama Property Taxes
The median property tax rate in Meadowbrook, AL is 0.44%, 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 Meadowbrook at $452,505, the typical annual property tax bill reaches $1,971, well below the national median of $2,690. Property taxes in Meadowbrook 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 Meadowbrook'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 Meadowbrook 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
Meadowbrook, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,991
$1,848
Ownwell’s Meadowbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadowbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadowbrook 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 Meadowbrook, Alabama
Property taxes in Meadowbrook, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadowbrook is 0.44%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Meadowbrook set these rates annually, and they can vary across different neighborhoods. Each year, Meadowbrook 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 Meadowbrook's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35242 zip code has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Meadowbrook 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 Meadowbrook Tax Rate
0.44%
Average Shelby County Tax Rate
0.48%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadowbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35242 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Meadowbrook, Alabama
In Meadowbrook, 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 Shelby 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 Meadowbrook, 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 Meadowbrook is $452,505. Homeowners in the 35242 zip code experience the highest median tax bill at $1,971, while the lowest median tax bill is also $1,971 in the same zip code. 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 Meadowbrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meadowbrook Assessed Value
$452,505
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 Meadowbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35242 | $233,373 | $315,548 | $452,505 | $589,462 | $671,637 |
Source: Ownwell
Property Tax Bills Across Meadowbrook, Alabama
In Meadowbrook, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $452,505. Local tax authorities apply the property tax rate to the assessed value to determine the annual tax bill. In Shelby County, the tax rate can vary, but it generally reflects the value of services provided by the local government, such as schools, infrastructure, and emergency services. Homeowners in Meadowbrook experience varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,378, while the 75th percentile tax bill is approximately $2,563. At the higher end, the 90th percentile tax bill reaches up to $2,919. Comparing these figures to the national median property tax rate of 0.99%, Meadowbrook's tax rates are competitive and reflect the area's property values and local government services. This calculation method ensures that homeowners contribute fairly to the community's upkeep and development.
Average Meadowbrook Tax Bill
$1,971
Average Shelby County Tax Bill
$1,229
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadowbrook, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35242 | $1,023 | $1,378 | $1,971 | $2,563 | $2,919 |
Source: Ownwell