Mc Kenzie, Alabama Property Taxes
The median property tax rate in McKenzie, AL 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 McKenzie at $97,940, the typical annual property tax bill is $272, well below the national median of $2,690. Property taxes in McKenzie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding McKenzie'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 McKenzie 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
0.28%
Estimate Property Tax Bill
$274
$254
Ownwell’s McKenzie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McKenzie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McKenzie 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 Mc Kenzie, Alabama
Property taxes in MC KENZIE, Alabama, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in MC KENZIE is 0.28%, significantly 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, Conecuh County has the highest median property tax rate of 0.28%, while other counties in Alabama may have different rates. Understanding how these cities compare with MC KENZIE provides valuable insights into the varying tax landscape across Conecuh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Kenzie Tax Rate
0.28%
Average Conecuh County Tax Rate
0.34%
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 | 0.16% | 0.22% | 0.28% | 0.35% | 0.58% |
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 Conecuh 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. For instance, the median home price in MC KENZIE is $97,940. The 25th percentile tax bill is around $130, while the 75th percentile tax bill is approximately $496. The highest and lowest median tax bill in the area is $272, found in the zip code 36456. 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 MC KENZIE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mc Kenzie Assessed Value
$97,940
Average Conecuh County Assessed Value
$80,780
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 | $32,700 | $51,020 | $97,940 | $159,470 | $263,560 |
Source: Ownwell
Property Tax Bills Across Mc Kenzie, Alabama
In MC KENZIE, located in Conecuh County, AL, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in MC KENZIE can expect a property tax rate that is below the national median of 0.99%. Several factors influence the final tax bill, including the property's assessed value and any applicable exemptions. For example, the median home price in MC KENZIE is $97,940, and tax bills can vary significantly. At the 25th percentile, homeowners might pay around $130, whereas at the 75th percentile, the tax bill could be approximately $496. The highest median tax bill recorded in the area is $272, which is notably lower than many other regions. These property taxes fund essential local services, such as schools and infrastructure, directly impacting the community. Lower property taxes in MC KENZIE make homeownership more affordable, which can be a significant advantage for residents.
Average Mc Kenzie Tax Bill
$272
Average Conecuh County Tax Bill
$297
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 | $71 | $130 | $272 | $496 | $882 |
Source: Ownwell