Cuba, Alabama Property Taxes
The median property tax rate in Cuba, AL is 0.37%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Cuba, the typical annual property tax bill is $206, well below the national median of $2,690. Property taxes in Cuba are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cuba'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 Cuba 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
Cuba, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$224
Ownwell’s Cuba Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cuba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cuba 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 Cuba, Alabama
Property taxes in Cuba, Alabama, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Cuba is 0.37%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Cuba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cuba 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 Cuba'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 in Shelby County at 0.44%, while the lowest is in Crenshaw County at 0.20%. Understanding how these cities compare with Cuba provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cuba Tax Rate
0.37%
Average Sumter County Tax Rate
0.37%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cuba, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36907 | 0.17% | 0.26% | 0.37% | 0.38% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cuba, Alabama
In Cuba, 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 Sumter 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 Cuba, 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 highest median tax bill in Cuba is $206 in the 36907 zip code, while the lowest median tax bill is also $206 in the same zip code. Being aware of these valuation processes in Cuba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cuba Assessed Value
$60,475
Average Sumter County Assessed Value
$62,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cuba, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36907 | $17,430 | $31,290 | $60,475 | $114,238 | $186,798 |
Source: Ownwell
Property Tax Bills Across Cuba, Alabama
In Cuba, Sumter County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Cuba is $60,475. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the specific tax rate set by local authorities and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Cuba is $91, while the 75th percentile tax bill is $424, and the 90th percentile tax bill reaches $677. These variations highlight how different property values and potential exemptions can impact the tax amount. For homeowners, understanding these factors is crucial, as property taxes represent a significant annual expense. Comparing these figures to the national median property tax rate of 0.99% can provide further context on how property taxes in Cuba, Sumter County, AL, align with broader trends.
Average Cuba Tax Bill
$206
Average Sumter County Tax Bill
$245
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Cuba, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36907 | $47 | $91 | $206 | $424 | $677 |
Source: Ownwell