Faunsdale, Alabama Property Taxes
The median property tax rate in Faunsdale, AL is 0.35%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $59,780 in Faunsdale, the typical annual property tax bill is $212, well below the national median of $2,690. Property taxes in Faunsdale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Faunsdale'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 Faunsdale or another part of Marengo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Faunsdale, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Faunsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Faunsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Faunsdale 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 Faunsdale, Alabama
Property taxes in Faunsdale, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Faunsdale is 0.35%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Faunsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Faunsdale 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 Faunsdale's effective property tax rate to other counties in Alabama and the national median. For comparison, understanding how these cities compare with Faunsdale 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 Faunsdale Tax Rate
0.35%
Average Marengo County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Faunsdale, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36738 | 0.18% | 0.27% | 0.35% | 0.40% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Faunsdale, Alabama
In Faunsdale, 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 Marengo 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 Faunsdale, 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. Faunsdale's median home price is $59,780, and property tax bills can range significantly, with the 25th percentile at $81 and the 90th percentile reaching $970. The highest and lowest median tax bills are both $212, found in the 36738 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Faunsdale Assessed Value
$59,780
Average Marengo County Assessed Value
$83,940
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Faunsdale, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36738 | $12,584 | $28,560 | $59,780 | $145,150 | $267,344 |
Source: Ownwell
Property Tax Bills Across Faunsdale, Alabama
In Faunsdale, property tax bills are calculated based on the assessed value of a property, which is determined by the Marengo County tax assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the real estate market. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Faunsdale, property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $81, while the 75th percentile reaches $553, and the 90th percentile can be as high as $970. This range indicates how different factors can impact the final tax amount. Compared to the national median property tax rate of 0.99%, Faunsdale's property tax bills are relatively modest, providing some financial relief to homeowners. However, understanding these calculations is crucial for budgeting and financial planning.
Average Faunsdale Tax Bill
$212
Average Marengo County Tax Bill
$351
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Faunsdale, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36738 | $32 | $81 | $212 | $553 | $970 |
Source: Ownwell