New Hope, Madison County, Alabama Property Taxes
Median New Hope, AL effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, but lower than the Alabama state median of 0.47%.
Median New Hope, AL home value: $139,400
Median annual New Hope, AL tax bill: $587, $1,813 lower than the national median property tax bill of $2,400.
How are property taxes in Madison County calculated?
Property taxes in New Hope, 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 New Hope’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Hope, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Hope, Madison County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$516
$479
Property Tax Rates Across New Hope, Madison County, Alabama
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In New Hope, located in Madison County, Alabama, the effective property tax rate is a reflection of this process. With a median property tax rate of 0.37%, Alabama is known for having one of the lowest property tax rates in the nation, significantly below the national median of 1.02%. This low rate can be appealing to homeowners looking to minimize their tax burden. Compared to other cities in Alabama, New Hope's effective property tax rate is consistent with the state’s overall trend of maintaining lower rates. This can be particularly advantageous for property owners seeking affordability in property taxes, making New Hope an attractive option for both current and prospective homeowners.
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 New Hope Tax Rate
0.37%
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 Madison County Tax Rate
0.56%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Hope, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | 0.27% | 0.32% | 0.37% | 0.72% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across New Hope, Madison County, Alabama
When examining property taxes in New Hope, 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 Madison 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 Madison 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 New Hope. For example, the median home price in New Hope is $139,400, with tax bills ranging significantly across the county. 35760 has the highest median home price at $139,400.
Property Tax Assessment Values Across New Hope, Madison County, Alabama
Source: Ownwell
$97,250
$226,775
$356,300
Median New Hope Market Value
$139,400
Median Madison County Market Value
$243,200
Median Alabama Market Value
$149,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Hope, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | $37,100 | $73,600 | $139,400 | $220,275 | $344,900 |
Source: Ownwell
Property Tax Bills Across New Hope, Madison County, Alabama
In New Hope, Madison County, AL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the local tax assessor. Factors such as location, home size, and property condition can influence the assessed value. Homeowners in New Hope typically face a median property tax bill of $587, significantly lower than the national median of $2,400. Tax bills can range from $322 at the 25th percentile to $1,426 at the 90th percentile, indicating some variability based on property specifics.
While the tax burden in New Hope is relatively low, homeowners can still benefit from appealing their property tax assessments to ensure they are fair and accurate. Ownwell offers expert property tax appeal services, helping homeowners identify potential savings and reduce their tax bills. By leveraging local market insights and legal expertise, Ownwell ensures homeowners pay only their fair share, maximizing potential savings and providing peace of mind.
Median New Hope Tax Bill
$587
Median Madison County Tax Bill
$1,321
Median Alabama Tax Bill
$717
Median United States Tax Bill
$2,400
Property Tax Bills Across New Hope, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | $168 | $322 | $587 | $916 | $1,426 |
Source: Ownwell