Boaz, Alabama Property Taxes
The median property tax rate in Boaz, AL is 0.47%, aligning with the Alabama state median but significantly lower than the national median of 0.99%. With a median home value of $117,200 in Boaz, the typical annual property tax bill amounts to $645, which is notably less than the national median of $2,690. Property taxes in Boaz are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boaz'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 Boaz 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
Boaz, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$551
$511
Ownwell’s Boaz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boaz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boaz 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 Boaz, Alabama
Property taxes in Boaz, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boaz is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Boaz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boaz 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 Boaz's effective property tax rate to other areas in Alabama and the national median. For comparison, the zip code 35957 has both the highest and lowest median property tax rate of 0.47%. Understanding how these areas compare with Boaz provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boaz Tax Rate
0.47%
Average Marshall County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boaz, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35956 | N/A | N/A | N/A | N/A | N/A |
| 35957 | 0.35% | 0.42% | 0.47% | 0.96% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Boaz, Alabama
In Boaz, 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 Marshall 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 Boaz, 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. The median home price in Boaz is $117,200, with tax bills ranging from $418 at the 25th percentile to $1,406 at the 90th percentile. The highest and lowest median tax bills both stand at $645 in the 35957 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boaz Assessed Value
$117,200
Average Marshall County Assessed Value
$133,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boaz, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35956 | N/A | N/A | N/A | N/A | N/A |
| 35957 | $43,300 | $80,700 | $117,050 | $176,475 | $260,780 |
Source: Ownwell
Property Tax Bills Across Boaz, Alabama
In Boaz, located in Marshall County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Boaz is $117,200. Property tax rates in this area are relatively low compared to the national median property tax rate of 0.99%. Homeowners in Boaz can expect their tax bills to vary significantly, with the 25th percentile tax bill at $418 and the 75th percentile tax bill at $983. For those in the higher range, the 90th percentile tax bill reaches $1406. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. These elements collectively determine the financial responsibility of homeowners. Lower property tax rates can make homeownership more affordable, but they also reflect on the public services funded by these taxes. Understanding these factors helps homeowners in Boaz plan their finances and anticipate their annual property tax obligations.
Average Boaz Tax Bill
$645
Average Marshall County Tax Bill
$654
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Boaz, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35956 | N/A | N/A | N/A | N/A | N/A |
| 35957 | $236 | $419 | $645 | $983 | $1,406 |
Source: Ownwell