Kennedy, Lamar County, Alabama Property Taxes
Median Kennedy, AL effective property tax rate: 0.29%, significantly lower than the national median of 1.02%, but lower than the Alabama state median of 0.47%.
Median Kennedy, AL home value: $79,480
Median annual Kennedy, AL tax bill: $242, $2,158 lower than the national median property tax bill of $2,400.
How are property taxes in Lamar County calculated?
Property taxes in Kennedy, AL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Kennedy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Kennedy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Kennedy, Lamar County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.29%
Estimate Property Tax Bill
$230
$214
Ownwell’s Kennedy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kennedy with just two data points.
By entering your property's estimated assessed value, our calculator applies Kennedy’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lamar County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Kennedy, Lamar County, Alabama
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Kennedy, located in Lamar County, Alabama, the effective property tax rate is notably lower than the national median. While the national median property tax rate stands at 1.02%, Kennedy's rate is significantly below this average. This lower rate can result in a more affordable property tax bill for homeowners compared to other regions in the country.
Comparing Kennedy's effective property tax rate to other cities in Alabama and the median property tax rates in the state and the U.S. provides valuable insights for potential homeowners and investors. Understanding these differences can be crucial for making informed decisions regarding property investments and financial planning.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Kennedy Tax Rate
0.29%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lamar County Tax Rate
0.28%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Kennedy, Lamar County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | 0.17% | 0.22% | 0.29% | 0.39% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Kennedy, Lamar County, Alabama
When examining property taxes in Kennedy, Alabama, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lamar County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Lamar County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Kennedy. For example, the median home price in Kennedy is $79,480, with tax bills ranging significantly across the county. Zip code 35574 has the highest median home price at $79,480.
Property Tax Assessment Values Across Kennedy, Lamar County, Alabama
Source: Ownwell
$74,060
$82,995
$91,930
Median Kennedy Market Value
$79,480
Median Lamar County Market Value
$83,780
Median Alabama Market Value
$149,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Kennedy, Lamar County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | $26,314 | $45,090 | $79,480 | $147,450 | $233,294 |
Source: Ownwell
Property Tax Bills Across Kennedy, Lamar County, Alabama
Median Kennedy Tax Bill
$242
Median Lamar County Tax Bill
$248
Median Alabama Tax Bill
$717
Median United States Tax Bill
$2,400
Property Tax Bills Across Kennedy, Lamar County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35574 | $58 | $110 | $242 | $455 | $743 |
Source: Ownwell