Knoxville, Alabama Property Taxes
The median property tax rate in Knoxville, AL is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Knoxville at $198,400, the typical annual property tax bill amounts to $545, well below the national median of $2,690. Property taxes in Knoxville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Knoxville'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 Knoxville 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
Knoxville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$615
Ownwell’s Knoxville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knoxville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knoxville 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 Knoxville, Alabama
Property taxes in Knoxville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knoxville is 0.31%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Knoxville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knoxville 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 Knoxville'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 Jefferson County at 0.66%, while the lowest median tax rate is in Choctaw County at 0.16%. Understanding how these cities compare with Knoxville provides valuable insights into the varying tax landscape across Tuscaloosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knoxville Tax Rate
0.31%
Average Tuscaloosa County Tax Rate
0.46%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | 0.25% | 0.27% | 0.31% | 0.37% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Knoxville, Alabama
In Knoxville, 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 local 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 Knoxville, 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 Knoxville 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 in zip code 35469 at $545, while the lowest is also in zip code 35469 at $545.
Average Knoxville Assessed Value
$198,400
Average Tuscaloosa County Assessed Value
$160,600
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | $42,360 | $92,700 | $198,400 | $258,350 | $408,960 |
Source: Ownwell
Property Tax Bills Across Knoxville, Alabama
In Knoxville, property tax bills are calculated based on the assessed value of your home. The local tax authority assesses your property's value, which is then multiplied by the tax rate set by the county. The median home price in Knoxville is $198,400, and the property tax rate is used to determine your annual tax bill. Several factors influence your tax bill, including the assessed value of your home and the specific tax rate applied in your area. For instance, the tax bill for homes in the 25th percentile is around $285, while those in the 75th percentile pay approximately $771. Homeowners at the 90th percentile see tax bills as high as $1,156. Compared to the national median property tax rate of 0.99%, Knoxville's rates are relatively moderate. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring a well-maintained community.
Average Knoxville Tax Bill
$545
Average Tuscaloosa County Tax Bill
$736
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Knoxville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35469 | $115 | $285 | $545 | $771 | $1,156 |
Source: Ownwell