Gallion, Alabama Property Taxes
The median property tax rate in Gallion, AL is 0.33%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $98,440 in Gallion, the typical annual property tax bill is $323, well below the national median of $2,690. Property taxes in Gallion are calculated based on the assessed value, which often 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 significant annual savings. Whether you're in the heart of Gallion 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
Gallion, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$325
$301
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gallion is 0.33%, significantly lower than both the Alabama state median 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. Understanding how Gallion compares to other areas 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
0.33%
Average Marengo County Tax Rate
0.40%
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% | 0.26% | 0.33% | 0.35% | 0.63% |
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 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 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 highest median tax bill in Gallion is $323 in the 36742 zip code, while the lowest is also $323 in the same zip code.
Average Gallion Assessed Value
$98,440
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 Gallion, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36742 | $15,732 | $40,910 | $98,440 | $194,160 | $295,356 |
Source: Ownwell
Property Tax Bills Across Gallion, Alabama
In Gallion, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Marengo County, the median home price is $98,440. Property tax rates in this area are relatively low compared to the national median property tax rate of 0.99%. The tax bill ranges significantly, with the 25th percentile at $120 and the 75th percentile at $627. At the higher end, the 90th percentile tax bill reaches $1,006. These figures illustrate how various factors, such as property value and the specific tax rate applied, influence the final tax bill. A higher assessed value results in a higher tax bill, impacting homeowners by increasing their annual expenses. However, compared to national figures, residents in Gallion benefit from relatively lower property taxes, which can make homeownership more affordable in this region. The highest median tax bill in Gallion is $323, which is still below the national median, highlighting the area's favorable property tax climate.
Average Gallion Tax Bill
$323
Average Marengo County Tax Bill
$351
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 | $50 | $120 | $323 | $627 | $1,006 |
Source: Ownwell