Meridianville, Madison County, Alabama Property Taxes
The median property tax rate in Meridianville, AL is 0.35%, significantly lower than both the national median of 0.99% and Alabama's state median of 0.47%. With a median home value of $274,100 in Meridianville, the typical annual property tax bill is $1,040, well below the national median of $2,690. Property taxes in Meridianville 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 Meridianville'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 Meridianville or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meridianville, Madison County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$959
$890
Ownwell’s Meridianville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Meridianville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meridianville to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Meridianville, Madison County, Alabama
Property taxes in Meridianville, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Meridianville is 0.35%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Meridianville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meridianville 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 Meridianville'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 0.33%. Understanding how these cities compare with Meridianville provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meridianville Tax Rate
0.35%
Average Madison County Tax Rate
0.56%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meridianville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35759 | 0.29% | 0.34% | 0.35% | 0.36% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Meridianville, Madison County, Alabama
In Meridianville, 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 Madison 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 Meridianville, 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 Meridianville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 35759 has both the highest and lowest median tax bill, valued at $1,040.
Property Tax Assessment Values Across Meridianville, Madison County, Alabama
Source: Ownwell
$97,250
$226,775
$356,300
Average Meridianville Assessed Value
$274,100
Average Madison County Assessed Value
$243,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meridianville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35759 | $163,280 | $210,000 | $274,100 | $343,400 | $429,200 |
Source: Ownwell
Property Tax Bills Across Meridianville, Madison County, Alabama
In Meridianville, located in Madison County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. Homeowners in Meridianville typically see tax bills that reflect the local tax rate applied to their property's assessed value. The median home price in this area is $274,100, and tax bills can vary significantly. For example, the tax bill at the 25th percentile is around $780, while at the 75th percentile, it rises to approximately $1408. At the higher end, the 90th percentile tax bill can reach $1937. These tax bills are influenced by the local property tax rate, which is lower than the national median property tax rate of 0.99%. This relatively lower tax rate can make homeownership more affordable in Meridianville compared to other regions. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and overall cost of living.
Average Meridianville Tax Bill
$1,040
Average Madison County Tax Bill
$1,321
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Meridianville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35759 | $585 | $780 | $1,040 | $1,408 | $1,937 |
Source: Ownwell