Leroy, Alabama Property Taxes
The median property tax rate in Leroy, Alabama is 0.28%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $91,450 in Leroy, the typical annual property tax bill amounts to $240, well below the national median of $2,690. Property taxes in Leroy are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Leroy'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 Leroy 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
Leroy, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$256
Ownwell’s Leroy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leroy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leroy 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 Leroy, Alabama
Property taxes in Leroy, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leroy is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Leroy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leroy 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 Leroy's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36613 zip code has the highest median property tax rate of 0.41%, while the 36545 zip code has the lowest median tax rate of 0.30%. Understanding how these cities compare with Leroy provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leroy Tax Rate
0.28%
Average Washington County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leroy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36548 | 0.19% | 0.24% | 0.28% | 0.30% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Leroy, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leroy, Alabama. 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 Washington 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. 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 Leroy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 36548, with a median tax bill of $240, which is significantly lower than the national median property tax rate of 0.99%.
Average Leroy Assessed Value
$91,450
Average Washington County Assessed Value
$82,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leroy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36548 | $30,290 | $50,825 | $91,450 | $143,900 | $200,450 |
Source: Ownwell
Property Tax Bills Across Leroy, Alabama
In Leroy, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value determined by local assessors. The median home price in Leroy is $91,450, and the property tax rate in Washington County is significantly lower than the national median of 0.99%. Homeowners in Leroy can expect their tax bills to vary widely, with the 25th percentile tax bill at $143 and the 75th percentile reaching $403. For those at the 90th percentile, tax bills can go up to $574. The highest and lowest median tax bills in Washington County both stand at $240, specifically in the 36548 zip code. These tax bills are influenced by factors such as property size, location, and any applicable exemptions. Lower property taxes can make homeownership more affordable, but it's essential for homeowners to stay informed about their assessed values and potential changes in tax rates to manage their financial planning effectively.
Average Leroy Tax Bill
$240
Average Washington County Tax Bill
$215
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Leroy, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36548 | $85 | $143 | $240 | $403 | $574 |
Source: Ownwell