Tallassee, Alabama Property Taxes
The median property tax rate in Tallassee, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $66,350 in Tallassee, the typical annual property tax bill amounts to $282, far below the national median of $2,690. Property taxes in Tallassee 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 Tallassee'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 Tallassee 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
Tallassee, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Tallassee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tallassee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tallassee 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 Tallassee, Alabama
Property taxes in Tallassee, Alabama, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Tallassee is 0.35%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Tallassee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tallassee 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 Tallassee'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 found in Shelby County, with a rate of 0.66%, while the lowest median tax rate is in Crenshaw County at 0.22%. Understanding how these counties compare with Tallassee 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 Tallassee Tax Rate
0.35%
Average Tallapoosa County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | 0.24% | 0.30% | 0.35% | 0.67% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Tallassee, Alabama
In Tallassee, 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 Tallassee, 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 Tallassee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tallassee is $66,350, with annual tax bills ranging from $184 at the 25th percentile to $703 at the 90th percentile. The highest and lowest median tax bills, both at $282, are found in the 36078 zip code.
Average Tallassee Assessed Value
$66,350
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 Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | $29,170 | $41,875 | $66,350 | $119,025 | $215,990 |
Source: Ownwell
Property Tax Bills Across Tallassee, Alabama
In Tallassee, located in Tallapoosa County, AL, 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 Tallassee is $66,350. Tax bills in this area vary significantly depending on the valuation and specific tax rates applied. For example, the tax bill at the 25th percentile is $184, while at the 75th percentile, it rises to $433, and at the 90th percentile, it reaches $703. Several factors influence these calculations, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Tallassee may seem lower, but they still impact homeowners significantly. These taxes fund essential local services such as schools, infrastructure, and public safety, thereby affecting the overall quality of life. Homeowners need to be aware of these costs as they can significantly influence their annual budgets and long-term financial planning.
Average Tallassee Tax Bill
$282
Average Tallapoosa County Tax Bill
$472
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tallassee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36078 | $124 | $184 | $282 | $433 | $703 |
Source: Ownwell