Jacksons Gap, Alabama Property Taxes
The median property tax rate in Jacksons Gap, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Jacksons Gap, the typical annual property tax bill reaches $876, well below the national median of $2,690. Property taxes in Jacksons Gap 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 Jacksons Gap'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 Jacksons Gap 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
Jacksons Gap, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$796
$739
Ownwell’s Jacksons Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jacksons Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jacksons Gap 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 Jacksons Gap, Alabama
Property taxes in Jacksons Gap, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacksons Gap is 0.30%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Jacksons Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacksons Gap 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 Jacksons Gap's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the county is found in the neighboring area with a rate of 0.50%, while the lowest median tax rate in another nearby area stands at 0.20%. Understanding how these cities compare with Jacksons Gap provides valuable insights into the varying tax landscape across Tallapoosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jacksons Gap Tax Rate
0.30%
Average Tallapoosa County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jacksons Gap, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36861 | 0.23% | 0.29% | 0.30% | 0.38% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Jacksons Gap, Alabama
In Jacksons Gap, 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 Tallapoosa 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 Jacksons Gap, 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 Jacksons Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jacksons Gap, the zip code with the highest median tax bill is 36861, with a median tax bill of $876. Conversely, the same zip code also records the lowest median tax bill, highlighting the uniformity in property tax assessments within this area.
Average Jacksons Gap Assessed Value
$265,300
Average Tallapoosa County Assessed Value
$120,950
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jacksons Gap, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36861 | $45,950 | $88,800 | $265,300 | $424,950 | $641,850 |
Source: Ownwell
Property Tax Bills Across Jacksons Gap, Alabama
In Jacksons Gap, Tallapoosa County, AL, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. Homeowners in this area experience a range of tax bills, influenced by factors such as property size, location, and market conditions. The median home price in Jacksons Gap is $265,300, and the property tax rates can vary significantly. For instance, the 25th percentile of tax bills stands at $322, while the 75th percentile reaches $1,511. At the higher end, the 90th percentile of tax bills is $2,609. The highest and lowest median tax bills within the zip code 36861 are both $876, reflecting some consistency in the area. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Jacksons Gap offers a relatively moderate tax burden, making it an appealing option for those looking to manage their annual expenses.
Average Jacksons Gap Tax Bill
$876
Average Tallapoosa County Tax Bill
$472
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Jacksons Gap, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36861 | $152 | $322 | $876 | $1,511 | $2,609 |
Source: Ownwell