Hodges, Alabama Property Taxes
The median property tax rate in Hodges, Alabama is 0.25%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hodges, the typical annual property tax bill is $287, well below the national median of $2,690. Property taxes in Hodges are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hodges' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hodges or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hodges, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$211
$196
Ownwell’s Hodges Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Hodges. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Hodges to provide an accurate estimate of your property tax bill. This handy tool is designed to give you a clearer understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Hodges, Alabama
Property taxes in Hodges, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hodges is 0.25%, significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Hodges set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hodges 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 Hodges' 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 0.16%. Understanding how these cities compare with Hodges provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hodges Tax Rate
0.25%
Average Marion County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hodges, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35571 | 0.17% | 0.22% | 0.25% | 0.43% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Hodges, Alabama
In Hodges, 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 Hodges, 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. The median home price in Hodges stands at $84,348, with tax bills ranging from $146 at the 25th percentile to $729 at the 90th percentile. Notably, the highest and lowest median tax bills are both $287, observed in the 35571 zip code. 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 Hodges helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hodges Assessed Value
$84,348
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 Hodges, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35571 | $44,203 | $60,144 | $84,348 | $150,462 | $244,937 |
Source: Ownwell
Property Tax Bills Across Hodges, Alabama
Property tax bills in Hodges, located in Marion County, AL, are determined by assessing the value of a property and then applying the relevant tax rate. The assessed value is a percentage of the property's market value, which is determined by the local tax assessor based on various factors such as property size, location, and improvements made to the property. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In Hodges, the median home price is $84,348, with property tax bills varying significantly. For instance, the tax bill at the 25th percentile is $146, while at the 75th percentile, it rises to $413. At the 90th percentile, homeowners might pay up to $729. This range indicates that while some homeowners may face relatively low property tax bills, others could see more substantial amounts, impacting their overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Hodges offers a relatively affordable property tax environment.
Average Hodges Tax Bill
$287
Average Marion County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hodges, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35571 | $92 | $146 | $287 | $413 | $729 |
Source: Ownwell