Gallion, Alabama Property Taxes
The median property tax rate in Gallion, Alabama is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $158,060 in Gallion, the typical annual property tax bill is approximately $549, well below the national median of $2,690. Property taxes in Gallion are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Gallion'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 Gallion 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
Gallion, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$490
Ownwell’s Gallion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gallion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gallion 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 Gallion, Alabama
Property taxes in Gallion, Alabama, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Gallion is 0.31%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Gallion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gallion 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 Gallion'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 0.66%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Gallion provides valuable insights into the varying tax landscape across Marengo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gallion Tax Rate
0.31%
Average Hale County Tax Rate
0.33%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gallion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36742 | 0.19% | 0.27% | 0.31% | 0.39% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Gallion, Alabama
In Gallion, 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 Hale 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 Gallion, 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 Gallion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 36742 has both the highest and lowest median tax bill at $549.
Average Gallion Assessed Value
$158,060
Average Hale County Assessed Value
$85,050
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gallion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36742 | $35,218 | $72,440 | $158,060 | $322,090 | $457,208 |
Source: Ownwell
Property Tax Bills Across Gallion, Alabama
In Gallion, located in Hale County, AL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, if a home's market value is $158,060, the assessed value would be a fraction of this amount, determined by local assessment rules. The tax rate is then applied to this assessed value to calculate the annual tax bill. Homeowners in Gallion experience a range of tax bills. At the 25th percentile, property tax bills are around $293, while those at the 75th percentile pay approximately $1,057. For the top 10% of homeowners, tax bills can reach up to $1,596. These figures highlight the variability in property taxes within the area, influenced by factors like property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Gallion's property taxes can be considered relatively moderate, providing some financial relief to homeowners while still supporting local services.
Average Gallion Tax Bill
$549
Average Hale County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Gallion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36742 | $103 | $293 | $549 | $1,057 | $1,596 |
Source: Ownwell