Mc Kenzie, Alabama Property Taxes
The median property tax rate in MC KENZIE, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $75,150 in MC KENZIE, the typical annual property tax bill amounts to $229, well below the national median of $2,690. Property taxes in MC KENZIE are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding MC KENZIE'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 MC KENZIE 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
Mc Kenzie, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$225
$209
Ownwell’s MC KENZIE Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in MC KENZIE with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in MC KENZIE to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Mc Kenzie, Alabama
Property taxes in MC KENZIE, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC KENZIE is 0.30%, which is lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within MC KENZIE set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC KENZIE 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 MC KENZIE'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 significantly higher, while the lowest median tax rate is even lower than MC KENZIE's rate. Understanding how these cities compare with MC KENZIE provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Kenzie Tax Rate
0.30%
Average Butler County Tax Rate
0.30%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Kenzie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36456 | 0.18% | 0.25% | 0.30% | 0.35% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Mc Kenzie, Alabama
In MC KENZIE, 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 Butler 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 MC KENZIE, 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. For instance, the highest median tax bill in the area is $229.00 in zip code 36456. Being aware of these valuation processes in MC KENZIE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mc Kenzie Assessed Value
$75,150
Average Butler County Assessed Value
$82,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Kenzie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36456 | $24,870 | $44,325 | $75,150 | $128,100 | $192,240 |
Source: Ownwell
Property Tax Bills Across Mc Kenzie, Alabama
In McKenzie, located in Butler County, AL, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value determined by local tax assessors. For homeowners in McKenzie, the median home price stands at $75,150. Tax rates are applied to this assessed value to determine your annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. In McKenzie, property tax bills range significantly; the 25th percentile tax bill is $132, while the 75th percentile reaches $385. For those in the 90th percentile, the tax bill can be as high as $563. This variation means homeowners in McKenzie might pay more or less than the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Mc Kenzie Tax Bill
$229
Average Butler County Tax Bill
$283
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Kenzie, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36456 | $74 | $132 | $229 | $385 | $563 |
Source: Ownwell