Sycamore, Alabama Property Taxes
The median property tax rate in Sycamore, AL is 0.58%, which is lower than the national median of 0.99% but higher than Alabama's state median of 0.47%. With the median home value in Sycamore at $34,600, the typical annual property tax bill amounts to $166, significantly below the national median of $2,690. Property taxes in Sycamore 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 Sycamore'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 Sycamore 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
Sycamore, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$201
$186
Ownwell’s Sycamore Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Sycamore. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sycamore to provide an accurate estimate of your property tax bill. This helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Sycamore, Alabama
Property taxes in Sycamore, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sycamore is 0.58%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Sycamore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sycamore 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 Sycamore's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35149 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Sycamore provides valuable insights into the varying tax landscape across Talladega County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sycamore Tax Rate
0.58%
Average Talladega County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sycamore, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35149 | 0.21% | 0.27% | 0.58% | 0.80% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Sycamore, Alabama
In Sycamore, 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 Talladega 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 Sycamore, 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 Sycamore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $166 in the 35149 zip code, while the lowest median tax bill is also $166 in the same zip code.
Average Sycamore Assessed Value
$34,600
Average Talladega County Assessed Value
$93,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sycamore, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35149 | $14,040 | $22,100 | $34,600 | $57,900 | $86,480 |
Source: Ownwell
Property Tax Bills Across Sycamore, Alabama
In Sycamore, Talladega County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or abatements. For homeowners in Sycamore, the median home price is $34,600, and property tax bills can vary significantly. The 25th percentile tax bill is $81, while the 75th percentile tax bill is $306, and the 90th percentile tax bill reaches $505. This variability highlights how different factors, such as property value and local tax rates, can impact the final amount owed by homeowners. Compared to the national median property tax rate of 0.99%, Sycamore's tax rates can result in relatively lower tax bills. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Sycamore Tax Bill
$166
Average Talladega County Tax Bill
$396
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Sycamore, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35149 | $28 | $81 | $166 | $306 | $505 |
Source: Ownwell