Alabama’s Property Taxes Structure
Alabama’s real estate market resilience to property taxes Alabama has essentially boomed in real estate to the landlords, tenants, buyers, sellers and other investors in the real estate market for the past few years. Alabama’s low property taxes primarily benefit those who own homes, farms, and timberland whereas Alabama’s taxes are average to that of the U.S. state in the form of a percentage of GDP comparatively smaller share. Apart from this, income taxes are also lower than the national average. Tax System in Alabama State Property taxes in Alabama are based on the value of the property as per the market trends in property which can be applied to the assessed value currently up to 10% of the market value. Every year on Oct.1st Alabama property taxes are due and calculated based on property’s value depending on the factors considered for the use of property in terms of residential property, the assessed value is 10% of the market value which depends on the v...