Frisco City, Alabama Property Taxes
The median property tax rate in Frisco City, Alabama is 0.28%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Frisco City at $83,400, the typical annual property tax bill is $276, well below the national median of $2,690. Property taxes in Frisco City are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Frisco City'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 Frisco City 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
Frisco City, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$234
Ownwell’s Frisco City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frisco City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frisco City 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 Frisco City, Alabama
Property taxes in Frisco City, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frisco City is 0.28%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Frisco City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frisco City 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 Frisco City's effective property tax rate to other areas in Monroe County and the national median. For comparison, the highest median property tax rate in the region is 0.99%, while the lowest median tax rate is 0.28%. Understanding how these cities compare with Frisco City provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frisco City Tax Rate
0.28%
Average Monroe County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frisco City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36445 | 0.14% | 0.22% | 0.28% | 0.62% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Frisco City, Alabama
In Frisco City, 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 Monroe 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 Frisco City, 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 instance, the median home price is $83,400, with tax bills ranging from $154 at the 25th percentile to $672 at the 90th percentile. The highest and lowest median tax bill is $276 in the 36445 zip code. 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 in Frisco City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frisco City Assessed Value
$83,400
Average Monroe County Assessed Value
$87,150
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frisco City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36445 | $29,013 | $48,018 | $83,400 | $138,698 | $212,985 |
Source: Ownwell
Property Tax Bills Across Frisco City, Alabama
In Frisco City, located in Monroe County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $83,400, the assessed value is typically a fraction of this amount, determined by local assessment rates. The tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Frisco City experience varying tax bills, with the 25th percentile paying around $154 and the 75th percentile paying approximately $448. The highest median tax bill in the area is $276, found in zip code 36445, which is also the lowest median tax bill, indicating a uniformity in median tax rates across the city. These property taxes fund essential public services such as schools, infrastructure, and emergency services, significantly impacting homeowners by contributing to the overall community quality and property values. Compared to the national median property tax rate of 0.99%, Frisco City's tax rates are relatively modest, offering a more affordable living situation for its residents.
Average Frisco City Tax Bill
$276
Average Monroe County Tax Bill
$316
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Frisco City, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36445 | $66 | $154 | $276 | $448 | $672 |
Source: Ownwell