Limestone County property tax

Example of Limestone County Property Tax Calculation

Limestone County in Alabama calculates property tax based on the assessed value of the property. To determine the assessed value, the county tax assessor assesses the property at 20% of its fair market value.

For example, if a property is valued at $100,000, the assessed value would be $20,000 (20% of $100,000).

To calculate the property tax, the assessed value is multiplied by the millage rate, which is determined annually by the county commission. A millage rate is expressed in decimal form, and represents the amount per $1,000 of a property’s assessed value that will be taxed.

Assuming a millage rate of 50, the property tax for the example property would be calculated as follows: ($20,000 assessed value / $1,000) x 50 millage rate = $1,000 property tax per year.

It’s important to note that exemptions and deductions may be available to reduce the amount of property tax owed. Property owners should contact the Limestone County Tax Assessor’s Office for more information.

If you want appeal your property tax assessment - contact your local tax assessor.

Limestone County Property Tax Rates

Here is a formatted table of Limestone County Property Tax rates listed in US Dollars per $100 of assessed value:

These rates are subject to change, so be sure to check with the appropriate authorities for the most up-to-date information.

Who sets property tax rates in Limestone County ?

The property tax rates in Limestone County are set by the Limestone County Commission. The commission meets every year to review and set property tax rates for the county. These rates are based on the value of the property and are used to fund local services like schools, roads, and emergency services. The rates are typically set in the fall, and property owners are notified of their new tax rate in the mail. It is important for property owners to review their tax bill each year to ensure that they are being charged the correct amount. If there are any discrepancies or questions about the tax bill, property owners can contact the Limestone County Tax Assessor's Office for assistance.

Homestead exemptions in Limestone County ?

The Limestone County in Texas offers various Homestead exemptions and deductions for its residents. Here is a table highlighting the details of each exemption and deduction:

Please note that the above information is specific to Limestone County in Texas and may differ in other counties or states. It is important for residents to check with their local authorities for the latest updates and eligibility criteria.

When is Limestone County Property Tax due ?

Limestone County Property Tax is typically due on October 1st of each year. However, taxpayers have the option of paying their property taxes in installments. The first installment is due on October 1st and the second installment is due on April 1st of the following year.

There are several payment methods available to taxpayers:

1. In-person: Taxpayers can make their payment in person at the Limestone County Tax Collector's office. The office is located at 100 South Clinton Street, Suite D in Athens, Alabama.

2. By mail: Taxpayers can also mail their payment to the Limestone County Tax Collector's office. The mailing address is P.O. Box 1149, Athens, Alabama 35612.

3. Online: Taxpayers can pay their property taxes online using a credit or debit card. The online payment system is provided by the Limestone County Tax Collector's office and can be accessed through their website.

4. By phone: Taxpayers can also make a payment by phone using a credit or debit card. The phone number for payment by phone is (256) 233-6430.

It is important to note that if property taxes are not paid by December 31st, they become delinquent and subject to interest and penalties. Therefore, taxpayers are encouraged to make their payment on or before the due date to avoid any additional fees.

If you have more questions - contact your local tax collector.

How is Limestone County Property Tax penalty calculated ?

Limestone County Property Tax Penalties

In Limestone County, Alabama, property taxes are levied on real estate and personal property owned by residents. Property tax is a major source of revenue for the county and is used to fund public services, such as schools, parks, and law enforcement. Failure to pay property taxes on time can result in penalties and interest charges being added to the amount owed.

Penalty Calculation

The penalty for late payment is calculated by adding a percentage to the unpaid amount. In Limestone County, the penalty for late payment is 1% of the tax due per month, starting on the first day of the month following the due date. For example, if the property tax is due on January 1 and is not paid until March 1, the penalty will be 2% (1% for February and 1% for March) of the total amount due.

Additionally, interest is charged on the unpaid tax amount starting on the first day following the due date at a rate of 12% per annum. The interest is calculated on a monthly basis and added to the unpaid amount.

Example

Suppose a property owner in Limestone County owes $3,000 in property taxes due on January 1. If the owner fails to pay the taxes until March 1, the penalty for late payment will be $60 (2% of $3,000), and the interest charge will be $72 (12% of $3,000 for two months). Therefore, the total amount owed will be $3,132 ($3,000 + $60 + $72).

In summary, property owners in Limestone County should make sure to pay their property taxes on time to avoid penalties and interest charges. The penalty for late payment is 1% of the tax due per month, and interest is charged at a rate of 12% per annum starting on the first day following the due date.

We recommend contacting the Limestone County Tax Office or a local tax professional for the most up-to-date and accurate information.

Limestone County tax offices:

• Limestone County tax assessor
• Limestone County tax collector
• Limestone County tax commissioner
• Limestone County tax appraiser
• Limestone County tag office