How Much Does Property Taxes Cost in Lake Martin & Pro Advice

What are property taxes at Lake Martin? How much does it cost annually for property tax here in Lake Martin Alabama? It’s a good question, but the first thing you need to know is that Lake Martin is actually made up of three different counties. It is made up of Tallapoosa County, Coosa County, and Elmore County. Based on shoreline, Tallapoosa is the largest of the three counties on Lake Martin. 

Lake Martin Property Examples of Property Tax

When looking at Lake Martin properties, you need to know that you will be in one of those three counties. The good news is that the property taxes on each different county are pretty much the same.

In this section of the blog, I will give examples of what it costs to pay property taxes on a lot, a condominium, a cabin style home, and a castle style home. Therefore, I can lay out what you might pay if you’re going to own property here at Lake Martin.

Example #1: Condominium Property Taxes on Lake Martin

For this example, I have taken a couple of condos that are sold on different sides of the lake. The first condo is located in Dadeville, AL, at Crown Pointe Condominium in Tallapoosa County. This was a two bed and two bath condo, and it sold for about $439,000. The assessment was about $375,000. In 2023, the tax bill was about $1,200. 

Our second condo example comes from Harbor Pointe, and it’s also in Tallapoosa County. This was a two bed condo that sold for about $600,000. At the time, its tax assessment was about $406,000. In 2023, its tax bill was about $1,217. As you can see, it’s pretty similar assessments and taxes for that year. 

Example #2: Taxes on Waterfront Lots in Lake Martin Alabama

Here is what an example of a lot around Lake Martin in different counties would cost you per year if you just held them. A lot that sold in 2023 was located in Coosa County, which is on the Parker Creek side of Lake Martin. This lot sold for $235,000, and the assessment was also $235,000. In 2023, the tax bill for that lot was $611.

Example #3: Home Taxes in Lake Martin Alabama

For homes, let’s compare cabin style homes and castle style homes. The first example I have is a cabin style home that sold in Elmore County in the Kowaliga Bay area. It sold for about $615,000 last year, and its assessment was $525,000 at the time. Its property tax bill for last year was $1,270.

Our last example also comes from the Elmore County in Kowaliga Bay. This was one of the higher sales in this area last year, and is what I consider to be a castle style home. This house sold for about $2.8 million. However, it’s assessment at the time was around a million. In 2023, its property tax bill was $5,246. 

Rule of Thumb for Property taxes at Lake Martin Alabama

It doesn’t really matter what part of Lake Martin you’re on or what county it is. A very general rule of thumb is for every $100,000 of your real estate value you can expect about $300 to $400 per year in property tax. 

Conclusion of Property Taxes in Lake Martin Alabama

I hope this has helped you out, because hey property tax is part of owning real estate anywhere. Lake Martin is not any different, but we are here in Alabama and are blessed with lower property taxes than other vacation areas say in like Florida or certainly California.

My name is John Coley, and if I can help you out with Lake Martin real estate give me a call at the number on the top of this page. You can also reach me through our Lake Martin Voice Realty Contact Page. 

For more blogs about what’s happening around Lake Martin, visit the links listed below:

Lake Martin’s Property Tax Increase

What It is Like to Live at Lake Martin