Thomasville, Alabama Property Taxes
The median property tax rate in Thomasville, AL is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $71,670 in Thomasville, the typical annual property tax bill is $253, far below the national median of $2,690. Property taxes in Thomasville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Thomasville'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 Thomasville or another part of Marengo County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thomasville, 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 Thomasville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thomasville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thomasville 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 Thomasville, Alabama
Property taxes in Thomasville, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thomasville is 0.34%, significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Thomasville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thomasville 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 Thomasville'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 found in Shelby County at 0.43%, while the lowest median tax rate is in Bibb County at 0.33%. Understanding how these cities compare with Thomasville 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 Thomasville Tax Rate
0.34%
Average Marengo County Tax Rate
0.40%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | 0.19% | 0.24% | 0.34% | 0.35% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Thomasville, Alabama
In Thomasville, 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 local 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 Thomasville, 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 Thomasville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Thomasville is $253 in the 36784 zip code, while the lowest median tax bill is also $253 in the same zip code, highlighting the uniformity in tax assessments within this area.
Average Thomasville Assessed Value
$71,670
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 Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | $20,360 | $39,525 | $71,670 | $126,775 | $216,176 |
Source: Ownwell
Property Tax Bills Across Thomasville, Alabama
In Thomasville, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Thomasville, the median home price is $71,670. Property tax bills vary widely, with the 25th percentile at $114 and the 75th percentile at $411. At the 90th percentile, homeowners can expect to pay around $655 annually. These figures are relatively low compared to the national median property tax rate of 0.99%, reflecting the more affordable housing market in the area. The highest and lowest median tax bills in the region are both $253, indicating a consistent tax environment within the zip code 36784. These property tax rates and bills can significantly impact homeowners, affecting their overall housing costs and financial planning.
Average Thomasville Tax Bill
$253
Average Marengo County Tax Bill
$351
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomasville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36784 | $60 | $114 | $253 | $411 | $655 |
Source: Ownwell