Cullman, Alabama Property Taxes
The median property tax rate in Cullman, AL is 0.51%, slightly higher than the state median of 0.47% but still below the national median of 0.99%. With the median home value in Cullman, the typical annual property tax bill amounts to $64, which is significantly lower than the national median of $2,690. Property taxes in Cullman 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 Cullman'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 Cullman 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
Cullman, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$64
$59
Ownwell’s Cullman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cullman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cullman 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 Cullman, Alabama
Property taxes in Cullman, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cullman is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Cullman set these rates annually, and they can vary across different neighborhoods. Each year, Cullman 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 Cullman's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35055 has both the highest and lowest median property tax rate of 0.51%. Understanding how Cullman compares with other regions provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cullman Tax Rate
0.51%
Average Walker County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cullman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35055 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Cullman, Alabama
In Cullman, 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 Cullman, 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. For example, homeowners in the 35055 zip code face the highest tax bills, while those in the 35058 zip code experience the lowest. 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 Cullman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cullman Assessed Value
$12,500
Average Walker County Assessed Value
$97,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cullman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35055 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 |
Source: Ownwell
Property Tax Bills Across Cullman, Alabama
In Cullman, AL, property tax bills are determined based on the assessed value of a property. The assessment process involves evaluating the market value of the home, which is then multiplied by the assessment ratio set by the state. For residential properties, this ratio is typically a percentage of the market value. Once the assessed value is calculated, the local tax rate is applied to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, homeowners may qualify for exemptions that reduce their taxable value, such as homestead exemptions for primary residences. In Cullman, the median home price is $12,500, and tax bills can vary widely. At the 25th, 75th, and 90th percentiles, the tax bill is consistently $64, reflecting a relatively low tax burden compared to the national median property tax rate of 0.99%. This relatively low tax rate can make homeownership more affordable for residents, contributing to the overall appeal of living in Cullman.
Average Cullman Tax Bill
$64
Average Walker County Tax Bill
$298
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Cullman, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35055 | $64 | $64 | $64 | $64 | $64 |
Source: Ownwell