Nanafalia, Alabama Property Taxes
The median property tax rate in Nanafalila, AL is 0.25%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $65,800 in Nanafalila, the typical annual property tax bill is $167, which is well below the national median of $2,690. Property taxes in Nanafalila are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Nanafalila'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 Nanafalila or another part of Marengo County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nanafalia, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$165
$153
Ownwell’s Nanafalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nanafalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nanafalia 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 Nanafalia, Alabama
Property taxes in Nanafalia, Alabama, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nanafalia is 0.25%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Nanafalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nanafalia 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 Nanafalia's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the county is 0.50%, while the lowest median tax rate is 0.10%. Understanding how these cities compare with Nanafalia 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 Nanafalia Tax Rate
0.25%
Average Marengo County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nanafalia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36764 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Nanafalia, Alabama
In Nanafalia, 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 Nanafalia, 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 Nanafalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Marengo County, the median home price is $65,800. The highest and lowest median tax bills both amount to $167, found in zip code 36764. This is significantly lower compared to the national median property tax rate of 0.99%.
Average Nanafalia Assessed Value
$65,800
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 Nanafalia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36764 | $65,800 | $65,800 | $65,800 | $65,800 | $65,800 |
Source: Ownwell
Property Tax Bills Across Nanafalia, Alabama
In Nanafalia, located in Marengo County, Alabama, property tax bills are calculated based on the assessed value of a property, which is a fraction of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Nanafalia, the median home price is $65,800, and property tax bills are quite consistent across different percentiles, with the 25th, 75th, and 90th percentiles all at $167. This uniformity indicates a stable property tax environment within the region. Compared to the national median property tax rate of 0.99%, Nanafalia's property taxes are relatively low. This can be beneficial for homeowners, as lower property taxes can make homeownership more affordable and potentially attract more residents to the area. However, it is crucial for homeowners to understand that these taxes fund essential local services such as schools, infrastructure, and public safety. Therefore, while the lower tax bills are advantageous, they also reflect the level of public services available in the community.
Average Nanafalia Tax Bill
$167
Average Marengo County Tax Bill
$351
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Nanafalia, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36764 | $167 | $167 | $167 | $167 | $167 |
Source: Ownwell