Tibbie, Alabama Property Taxes
The median property tax rate in Tibbie, AL is 0.27%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Tibbie at $94,500, the typical annual property tax bill is $237, far below the national median of $2,690. Property taxes in Tibbie are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tibbie'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 Tibbie 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
Tibbie, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$255
Ownwell’s Tibbie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tibbie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tibbie 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 Tibbie, Alabama
Property taxes in Tibbie, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tibbie is 0.29%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Tibbie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tibbie 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 Tibbie's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35203 zip code has the highest median property tax rate of 0.66%, while the 36502 zip code has the lowest median tax rate of 0.18%. Understanding how these cities compare with Tibbie 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 Tibbie Tax Rate
0.27%
Average Washington County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tibbie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36583 | 0.16% | 0.21% | 0.27% | 0.30% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Tibbie, Alabama
In Tibbie, 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 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 Tibbie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tibbie, both at $237, are found in the 36583 zip code.
Average Tibbie Assessed Value
$94,500
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 Tibbie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36583 | $32,700 | $53,100 | $94,500 | $176,000 | $231,400 |
Source: Ownwell
Property Tax Bills Across Tibbie, Alabama
In Tibbie, Washington County, AL, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $94,500, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $122, while the 75th percentile reaches approximately $391, and the 90th percentile can be as high as $542. These figures indicate a range of tax burdens depending on the specific valuation and applicable exemptions. Compared to the national median property tax rate of 0.99%, Tibbie's tax rate results in relatively moderate tax bills, aiding homeowners in managing their annual expenses. Understanding these factors helps residents anticipate their financial responsibilities and plan accordingly.
Average Tibbie Tax Bill
$237
Average Washington County Tax Bill
$215
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Tibbie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36583 | $75 | $122 | $237 | $391 | $542 |
Source: Ownwell