Thomaston, Alabama Property Taxes
The median property tax rate in Thomaston, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Thomaston at $80,780, the typical annual property tax bill amounts to $305, which is substantially less than the national median of $2,690. Property taxes in Thomaston are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Thomaston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Thomaston or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thomaston, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$283
Ownwell’s Thomaston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thomaston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thomaston 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 Thomaston, Alabama
Property taxes in Thomaston, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thomaston is 0.35%, which is notably lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Thomaston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thomaston 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 Thomaston'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 found in some areas at 0.55%, while the lowest median tax rate can be as low as 0.20%. Understanding how these cities compare with Thomaston provides valuable insights into the varying tax landscape across Marengo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thomaston Tax Rate
0.35%
Average Marengo County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomaston, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36783 | 0.20% | 0.29% | 0.35% | 0.40% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Thomaston, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thomaston, Alabama. 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 Marengo 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 Thomaston, 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. For example, the median home price in Thomaston is $80,780, with tax bills ranging from $156 at the 25th percentile to $801 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thomaston Assessed Value
$80,780
Average Marengo County Assessed Value
$83,940
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thomaston, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36783 | $19,050 | $42,185 | $80,780 | $155,160 | $255,404 |
Source: Ownwell
Property Tax Bills Across Thomaston, Alabama
In Thomaston, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $80,780. Property tax rates are applied to this assessed value to determine the annual tax bill. For homeowners in Thomaston, the tax bill at the 25th percentile is $156, while at the 75th percentile, it rises to $504. At the 90th percentile, the tax bill can reach as high as $801. Several factors influence these tax bills, including the home's location within Marengo County, the specific tax rate set by local authorities, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Thomaston's rates are relatively modest, making it an attractive location for homeowners seeking lower property tax liabilities. These lower taxes can significantly affect homeowners by reducing their overall housing costs, thereby making homeownership more affordable in the region.
Average Thomaston Tax Bill
$305
Average Marengo County Tax Bill
$351
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomaston, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36783 | $68 | $156 | $305 | $504 | $801 |
Source: Ownwell