Property Taxes in Banks, Alabama
Median Banks, Alabama effective property tax rate: 0.26%, significantly lower than the national median of 1.02%, and lower than the Alabama state median of 0.47%.
Median Banks, Alabama home value: $115,700
Median annual Banks, Alabama tax bill: $295, $2,105 lower than the national median property tax bill of $2,400.
How are property taxes in Pike calculated?
Property taxes in Banks, Alabama 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 Banks's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Banks, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Banks Property Tax Calculator Work?
Use this Banks property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Banks's median effective tax rate of 0.26% — based on actual property records in Pike County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Banks's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Banks: rates range from 0.26% in 36005 to 0.26% in 36005, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Banks.
About Banks Property Taxes
About Property Taxes in Banks, Pike, Alabama
Banks’s median effective property tax rate of 0.26% is lower than the Alabama state median of 0.47% and lower than the national median of 1.02%. This rate reflects the Pike County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Banks. Homeowners in the 36005 ZIP code carry a median effective rate of 0.26%, while those in the same ZIP code pay 0.26%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Pike County. Understanding which part of Banks you live in can make a meaningful difference to your annual tax bill.
Banks homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Banks, Pike County, Alabama
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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.
Below, you can compare Banks's effective property tax rate to other cities in Alabama and the median property tax rates in Alabama and the U.S.
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 Banks Tax Rate
0.26%
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 Pike County Tax Rate
0.33%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Banks, Pike County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36005 | 0.11% | 0.19% | 0.26% | 0.29% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Banks, Pike County, Alabama
When examining property taxes in Banks, 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 Pike 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.
Assessment notices:
In Pike County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Banks.
For example, the median home price in Banks is $115,700, with tax bills ranging significantly across the county. 36005 has the highest median home price at $115,700.
Property Tax Assessment Values Across Banks, Pike County, Alabama
Source: Ownwell
$82,540
$131,170
$179,800
Median Banks Market Value
$115,700
Median Pike County Market Value
$126,430
Median Alabama Market Value
$169,700
Median United States Market Value
$274,101
Property Tax Assessment Values Across Banks, Pike County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36005 | $34,634 | $65,765 | $115,700 | $194,300 | $329,640 |
Source: Ownwell
Property Tax Bills Across Banks, Pike County, Alabama
Banks property tax bills are based on the assessed value of a home, not its market price alone. Local tax rates are then applied to that assessed value to determine the annual bill. For homeowners in Pike County, the amount owed can vary depending on the home’s assessed value and any local taxing authorities that apply.
The median home price in Banks is $115,700, and the median property tax bill is $295.00, which is well below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills in the area range from $159 at the 25th percentile to $495 at the 75th percentile, with the 90th percentile reaching $772. That means two homes with similar market values can still have different tax bills if their assessed values or tax rates differ.
For homeowners, property taxes are a recurring cost that can affect monthly budgeting and long-term affordability.
Median Banks Tax Bill
$295
Median Pike County Tax Bill
$447
Median Alabama Tax Bill
$813
Median United States Tax Bill
$3,209
Property Tax Bills Across Banks, Pike County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36005 | $78 | $159 | $295 | $495 | $772 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 1 |
Links | |
|---|---|
| Pike Tax Assessor | |
| Website | pikeil.devnetwedge.com |