Home Buying in Florence>Question Details

Mary, Home Buyer in Florence, AL

How much are property taxes on a 6000,000.00 home

Asked by Mary, Florence, AL Tue Dec 15, 2009

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Your tax bill is based on millage rates. The amount of taxes to be paid is determined by multiplying the millage rate by the assessed value of the property less the proper exemptions. A mill is one-tenth of one cent (.001). In Florence, the millage rate is 0.0490. You would multiply this by the assessed value of the property. If the assessed value was $525,000, the taxes would be $2,572.50. You would then take into account any other exemptions that might apply such as homestead, etc. to get the final value of the property taxes.
Web Reference: http://judyyoung.net
1 vote Thank Flag Link Tue Dec 15, 2009
I looked at several of the tax records for properties here in Florence , Alabama and the yearly property taxes on those homes ran anywhere from $1800 to $2400 a year. Some of the determining factors were if the homes value was mostly the home itself or if it was a smaller home on a larger tract of land. I would be happy to help you research this question more fully. Just let me know.
Steve Shelton 256-810-4786
0 votes Thank Flag Link Tue Dec 15, 2009
Depends where that home is located?

Are you looking at a specific home or area? If so let us know and we can look up similar homes or that specific home and tell you the annual taxes.

Sean Dawes
0 votes Thank Flag Link Tue Dec 15, 2009
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