Marion Junction, Alabama Property Taxes
The median property tax rate in Marion Junction, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Marion Junction at $56,900, the typical annual property tax bill amounts to $191, far below the national median of $2,690. Property taxes in Marion Junction are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marion Junction'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 Marion Junction 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
Marion Junction, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$171
$158
Ownwell’s Marion Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion Junction 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 Marion Junction, Alabama
Property taxes in Marion Junction, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion Junction is 0.31%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Marion Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion Junction 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 Marion Junction'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 0.68%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Marion Junction provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Junction Tax Rate
0.30%
Average Dallas County Tax Rate
0.53%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | 0.12% | 0.22% | 0.30% | 0.55% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Marion Junction, Alabama
In Marion Junction, 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 Dallas 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. 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 Marion Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Marion Junction are both $191, found in zip code 36759.
Average Marion Junction Assessed Value
$56,900
Average Dallas County Assessed Value
$65,800
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | $12,520 | $28,300 | $56,900 | $126,100 | $227,100 |
Source: Ownwell
Property Tax Bills Across Marion Junction, Alabama
In Marion Junction, Dallas County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face a median property tax bill of $191, a figure significantly lower than the national median property tax rate of 0.99%. The tax bill is determined by multiplying the assessed value by the local tax rate, which varies depending on local government budgets and needs. Several factors influence the tax bill, including the property's market value, assessment ratio, and any applicable exemptions. For instance, homes in the 25th percentile have tax bills around $72, while those in the 75th percentile see bills closer to $429. The highest tax bills, in the 90th percentile, can reach up to $849. This taxation system directly impacts homeowners by influencing their annual expenses and potentially affecting their property's resale value. Lower property taxes can make homeownership more affordable, but they may also reflect lower funding for local services and amenities.
Average Marion Junction Tax Bill
$191
Average Dallas County Tax Bill
$361
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | $30 | $72 | $191 | $429 | $849 |
Source: Ownwell