Grant, Alabama Property Taxes
The median property tax rate in Grant, AL is 0.40%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Grant at $162,000, the typical annual property tax bill reaches $766, significantly below the national median of $2,690. Property taxes in Grant are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grant'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 Grant or another part of Marshall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grant, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$648
Ownwell’s Grant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant 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 Grant, Alabama
Property taxes in Grant, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant is 0.40%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Grant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant 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 Grant's effective property tax rate to other counties in Alabama and the national median. For comparison, the zip code 35747 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Grant provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Tax Rate
0.40%
Average Marshall County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35747 | 0.33% | 0.38% | 0.40% | 0.75% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Grant, Alabama
In Grant, 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 Marshall 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 Grant, 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 Grant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 35747 in Grant has the highest and lowest median tax bill at $766.
Average Grant Assessed Value
$162,000
Average Marshall County Assessed Value
$133,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35747 | $33,000 | $84,525 | $162,000 | $275,075 | $414,000 |
Source: Ownwell
Property Tax Bills Across Grant, Alabama
In Grant, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Grant, located in Marshall County, experience a range of tax bills. The 25th percentile tax bill is $433, while the 75th percentile reaches $1,231, and the 90th percentile can go up to $1,914. Comparatively, the median tax bill in Grant is $766, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can be a financial advantage for homeowners, making Grant an attractive place for property investment. Understanding how these factors interact helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Grant Tax Bill
$766
Average Marshall County Tax Bill
$654
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35747 | $189 | $433 | $766 | $1,231 | $1,914 |
Source: Ownwell