Alabama
property taxes among nation's lowest
(housingeconomics.com)According to a study posted by Housingeconomics.com on residential real estate tax rates, Alabama has the second-lowest property taxes in the nation and the third-lowest effective property tax rates in the nation.
The study uses data from the 2009 American Community Survey to estimate tax rates for US states and metropolitan areas.
The state of Alabama has a median effective property tax rate of 3.33 (i.e. $3.33 per $1,000 of property value), well below the national median of 10.35. Alabama's median value of real estate tax is $398, whereas the national median is $1,917.
Major metropolitan areas in Alabama present the following property tax statistics:
|
Metropolitan Area |
Median Real Estate Taxes |
Median Home Value |
Median Real Estate Taxes per $1,000 |
|||
|
Value |
Rank |
Value |
Rank |
Value |
Rank |
|
|
Birmingham-Hoover |
599 |
356 |
142,000 |
226 |
4.2 |
359 |
|
Huntsville |
603 |
355 |
153,400 |
197 |
3.9 |
363 |
|
Mobile |
515 |
364 |
122,100 |
295 |
4.2 |
360 |
|
Montgomery |
395 |
371 |
127,200 |
270 |
3.1 |
374 |
|
Tuscaloosa |
367 |
373 |
139,900 |
235 |
2.6 |
377 |
|
USA |
1,917 |
− |
185,000 |
− |
10.35 |
− |
The states with the lowest effective property tax rates are Louisiana (which also has the nation's lowest property tax values) and Hawaii, which have median effective property tax rates of 1.79 and 2.56, respectively. New Jersey has the highest median effective property tax rate of 18.89. Overall, the southern and western regions of the country have relatively low property tax rates, whereas the Midwestern and northeastern regions of the country have relatively high property tax rates.
View the current monthly Alabama Residential Report here.
For other Alabama real estate resources & news, please visit our website and our ACRE blog.
Brittain Mandy, MBA '12 candidate concentrating in real estate and ACRE intern, contributed to this article.
