Fosters, Alabama Property Taxes
The median property tax rate in Fosters, AL is 0.49%, slightly higher than the Alabama state median of 0.47% but significantly lower than the national median of 0.99%. With a median home value of $53,600 in Fosters, the typical annual property tax bill is $206, far below the national median of $2,690. Property taxes in Fosters are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Fosters' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fosters or another part of Greene County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fosters, 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 Fosters Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fosters with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fosters 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 Fosters, Alabama
Property taxes in Fosters, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fosters is 0.49%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Fosters set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fosters 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 Fosters' effective property tax rate to other areas in Alabama and the national median. For comparison, the zip code 35463 has both the highest and lowest median property tax rate of 0.49%. Understanding how these areas compare with Fosters provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fosters Tax Rate
0.49%
Average Greene County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fosters, Alabama
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
35463 | 0.30% | 0.41% | 0.49% | 0.58% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Fosters, Alabama
In Fosters, 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 Greene 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 Fosters, 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 Fosters helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $206, are found in the 35463 zip code.
Average Fosters Assessed Value
$53,600
Average Greene County Assessed Value
$64,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fosters, Alabama
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
35463 | $14,000 | $25,175 | $53,600 | $73,975 | $92,170 |
Source: Ownwell
Property Tax Bills Across Fosters, Alabama
In Fosters, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is a percentage of your property's market value. The tax rate applied in Greene County is specific to the area and can vary significantly. For instance, the median home price in Fosters is $53,600. Homeowners in Fosters experience a range of property tax bills, with the 25th percentile at $123 and the 75th percentile at $344. The 90th percentile tax bill can go up to $532. These figures highlight the variability in tax burdens based on property values and other local factors. Compared to the national median property tax rate of 0.99%, the property tax rates in Fosters are relatively modest. Understanding these factors can help homeowners better anticipate their annual property tax obligations, ensuring they are financially prepared for these local government levies.
Average Fosters Tax Bill
$206
Average Greene County Tax Bill
$290
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Fosters, Alabama
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
35463 | $63 | $123 | $206 | $344 | $532 |
Source: Ownwell