Property Tax in Five Points, Alabama
Based on the latest US Census data, the median home value in Five Points is $202,100, resulting in a median annual property tax bill of $364.
Estimate Your Property Tax in Five Points
Enter your actual or desired home value below to see how much you can expect to pay annually based on Five Points's effective tax rate of 0.18%.
Estimated Annual Tax
Understanding Five Points Real Estate Taxes
Property taxes in Five Points are a major component of local homeownership. Based on recent census data, the effective rate sits at 0.18%. Consequently, securing a home near the $202,100 median value means you should anticipate roughly $364 in annual taxes to support Alabama's local municipal and school district budgets.
It's important to remember that local assessors determine assessed values, which may vary from current market values, altering your exact obligations.
Impact on Mortgages
Most lenders require property taxes to be rolled into your monthly mortgage payment via an escrow account. A 0.18% annual rate on a $500,000 home adds roughly $75 to your monthly overhead in Five Points.
Special Assessments
Your exact tax bill may be influenced by hyper-local municipal bonds, school district levies, and utility assessments in Alabama. Using the effective rate provides a highly accurate historical baseline for budgeting.
How it compares to local earnings
Housing affordability isn't just about property prices—it's about the correlation between your geographic tax obligations and your local income potential.
In Five Points, the median household income is $76,667 annually. This means the median household commits 0.47% of their gross income directly to property taxes. Financial modelers typically recommend keeping total housing costs below 28% of gross income.
Local Tax Burden
0.47%
Of Median Household Gross Income
Frequently Asked Questions
The average effective property tax rate in Five Points is 0.18%.
For a median-priced home of $202,100 in Five Points, homeowners pay an average of $364 annually in property taxes.
While the average tax bill of $364 in Five Points is an annual obligation, most homeowners pay this monthly through an escrow account managed by their mortgage lender.
The effective rate of 0.18% is calculated by dividing the median annual property taxes paid ($364) by the median home value ($202,100) for properties in Five Points.
Yes, your property taxes in Five Points can change based on reassessments of your home's market value by local Alabama authorities or changes in municipal and school district tax levies.