Hackleburg, Alabama Property Taxes
The median property tax rate in Hackleburg, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $83,322 in Hackleburg, the typical annual property tax bill amounts to $269, well below the national median of $2,690. Property taxes in Hackleburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hackleburg'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 Hackleburg or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hackleburg, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$250
Ownwell’s Hackleburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hackleburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hackleburg 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 Marion County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hackleburg, Alabama
Property taxes in Hackleburg, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hackleburg is 0.30%, lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Hackleburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hackleburg 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 Hackleburg'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 0.14%. Understanding how these cities compare with Hackleburg provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hackleburg Tax Rate
0.30%
Average Marion County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | 0.19% | 0.24% | 0.30% | 0.54% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Hackleburg, Alabama
In Hackleburg, 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 Marion 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 Hackleburg, 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 Hackleburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 35564 has a median tax bill of $269, reflecting how property taxes can vary even within a single area.
Average Hackleburg Assessed Value
$83,322
Average Marion County Assessed Value
$95,335
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | $28,699 | $49,194 | $83,322 | $132,164 | $205,478 |
Source: Ownwell
Property Tax Bills Across Hackleburg, Alabama
In Hackleburg, located in Marion County, AL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Hackleburg, the tax bills can vary significantly. The 25th percentile of tax bills is around $155, while the 75th percentile reaches up to $484, and the 90th percentile can go as high as $760. These variations depend on factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Hackleburg's property tax rates are relatively modest, making it an attractive location for homeowners seeking affordability. However, understanding these tax obligations is crucial for homeowners to manage their finances effectively and anticipate annual expenses.
Average Hackleburg Tax Bill
$269
Average Marion County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hackleburg, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35564 | $77 | $155 | $269 | $484 | $760 |
Source: Ownwell