Malvern, Alabama Property Taxes
The median property tax rate in Malvern, AL is 0.52%, slightly above the state median of 0.47% but lower than the national median of 0.99%. With a median home value of $134,700, the typical annual property tax bill in Malvern is $650, significantly below the national median of $2,690. Property taxes in Malvern 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 Malvern'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 Malvern or another part of Geneva County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malvern, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$700
Ownwell’s Malvern Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malvern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malvern 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 Malvern, Alabama
Property taxes in Malvern, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Malvern is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Malvern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malvern 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 Malvern's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36349 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Malvern provides valuable insights into the varying tax landscape across Geneva County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malvern Tax Rate
0.52%
Average Geneva County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malvern, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36349 | 0.38% | 0.39% | 0.52% | 0.75% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Malvern, Alabama
In Malvern, 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 Geneva 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 Malvern, 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. Being aware of these valuation processes in Malvern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $650.00 in zip code 36349.
Average Malvern Assessed Value
$134,700
Average Geneva County Assessed Value
$100,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malvern, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36349 | $8,240 | $26,450 | $134,700 | $245,950 | $273,310 |
Source: Ownwell
Property Tax Bills Across Malvern, Alabama
In Malvern, located in Geneva County, AL, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and is typically a percentage of the property's market value. For homeowners in Malvern, the median home price is $134,700. Property tax rates in this area can vary, but they generally fall in line with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile tax bill in Malvern is $232, while the 75th percentile tax bill is $987, and the 90th percentile reaches up to $1,383. These variations can significantly impact homeowners, affecting their annual financial planning and housing affordability. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and budget accordingly. With the highest and lowest median tax bills both recorded at $650 in the 36349 zip code, residents can expect some consistency in their tax assessments within this specific area.
Average Malvern Tax Bill
$650
Average Geneva County Tax Bill
$373
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Malvern, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36349 | $58 | $232 | $650 | $987 | $1,383 |
Source: Ownwell