Melvin, Alabama Property Taxes
The median property tax rate in Melvin, AL is 0.28%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $32,110 in Melvin, the typical annual property tax bill amounts to just $109, far below the national median of $2,690. Property taxes in Melvin are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Melvin'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 Melvin or another part of Choctaw County, grasping the nuances of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melvin, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$90
$83
Ownwell’s Melvin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melvin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melvin 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 Melvin, Alabama
Property taxes in Melvin, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melvin is 0.28%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Melvin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melvin 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 Melvin's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the region is significantly higher than Melvin's, while the lowest median tax rate is also higher than Melvin's. Understanding how these cities compare with Melvin provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melvin Tax Rate
0.28%
Average Choctaw County Tax Rate
0.29%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melvin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36913 | 0.14% | 0.21% | 0.28% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Melvin, Alabama
In Melvin, 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 Choctaw 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 Melvin, 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. The median home price in Melvin is $32,110, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $35, while the 75th percentile tax bill is $210, and the 90th percentile tax bill reaches $287. 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 Melvin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Melvin Assessed Value
$32,110
Average Choctaw County Assessed Value
$48,430
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melvin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36913 | $18,162 | $23,000 | $32,110 | $84,160 | $107,284 |
Source: Ownwell
Property Tax Bills Across Melvin, Alabama
In Melvin, located in Choctaw County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Melvin is $32,110. Property taxes are then determined by applying the local tax rate to the assessed value. For instance, the tax bill at the 25th percentile is $35, while at the 75th percentile, it is $210. The tax bill at the 90th percentile reaches $287, reflecting the variability in property values and tax rates within the area. Factors influencing the tax bill include the home's assessed value, local tax rates, and applicable exemptions. Homeowners in Melvin may find their property tax bills significantly lower than the national median property tax rate of 0.99%, providing some financial relief. However, understanding these calculations is crucial for homeowners to budget effectively and anticipate annual expenses. Comparatively, Melvin's highest and lowest median tax bill both stand at $109 in the zip code 36913, indicating a relatively uniform tax burden across the region.
Average Melvin Tax Bill
$109
Average Choctaw County Tax Bill
$120
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Melvin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36913 | $29 | $35 | $109 | $210 | $287 |
Source: Ownwell