Marion, Alabama Property Taxes
The median property tax rate in Marion, AL is 0.33%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Marion at $116,705, the typical annual property tax bill is $406, well below the national median of $2,690. Property taxes in Marion are calculated based on the assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Marion's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marion or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marion, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$385
Ownwell’s Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marion, Alabama
Property taxes in Marion, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Marion's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is 0.66%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
0.33%
Average Hale County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36756 | 0.16% | 0.27% | 0.33% | 0.66% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Marion, Alabama
In Marion, Alabama, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hale County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Marion, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Marion is $116,705, with tax bills ranging significantly. The 25th percentile tax bill is $194, while the 75th percentile tax bill is $756, and the 90th percentile tax bill reaches $1,069. The highest median tax bill in the area is $406, found in zip code 36756. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Marion Assessed Value
$116,705
Average Hale County Assessed Value
$85,050
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36756 | $32,029 | $60,318 | $116,705 | $205,762 | $292,923 |
Source: Ownwell
Property Tax Bills Across Marion, Alabama
In Marion, located in Hale County, AL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. Homeowners in Marion experience property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $194, while the 75th percentile tax bill is $756, and at the 90th percentile, it reaches $1069. The median home price in Marion is $116,705, and the median property tax bill is $406, which is considerably lower than the national median property tax rate of 0.99%. Several factors contribute to the determination of a property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as property taxes can significantly impact their annual expenses and overall financial planning.
Average Marion Tax Bill
$406
Average Hale County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36756 | $80 | $194 | $406 | $756 | $1,069 |
Source: Ownwell