Lincoln, Alabama Property Taxes
The median property tax rate in Lincoln, Alabama is 0.43%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Lincoln at $146,400, the typical annual property tax bill reaches $641, significantly below the national median of $2,690. Property taxes in Lincoln are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lincoln's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lincoln 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
Lincoln, 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 Lincoln Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln 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 Lincoln, Alabama
Property taxes in Lincoln, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 0.43%, lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35096 zip code has the highest median property tax rate of 0.43%, while the 35096 zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Lincoln provides valuable insights into the varying tax landscape across Talladega County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln Tax Rate
0.43%
Average Talladega County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | 0.21% | 0.36% | 0.43% | 0.77% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Alabama
In Lincoln, 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 Talladega 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 Lincoln, 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 Lincoln helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lincoln are both $641.00, found in the 35096 zip code.
Average Lincoln Assessed Value
$146,400
Average Talladega County Assessed Value
$93,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | $33,600 | $70,000 | $146,400 | $212,600 | $299,380 |
Source: Ownwell
Property Tax Bills Across Lincoln, Alabama
In Lincoln, Talladega County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $146,400, the tax bill can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $250, while those at the 75th percentile might see a bill closer to $1,058. At the 90th percentile, the tax bill can reach up to $1,582. These tax bills are influenced by several factors, including local tax rates and the specific assessed value of the property. Talladega County's tax rate is a key component in determining the final amount due. Compared to the national median property tax rate of 0.99%, Lincoln's property tax rates can vary but generally remain competitive. This variability in tax bills can significantly impact homeowners, affecting their annual expenses and financial planning.
Average Lincoln Tax Bill
$641
Average Talladega County Tax Bill
$396
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35096 | $33 | $250 | $641 | $1,058 | $1,582 |
Source: Ownwell