Marion Junction, Alabama Property Taxes
The median property tax rate in Marion Junction, AL is 0.39%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $94,900 in Marion Junction, the typical annual property tax bill amounts to $274, well below the national median of $2,690. Property taxes in Marion Junction are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural use. Understanding Marion Junction'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 Marion Junction 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
Marion Junction, 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 Marion Junction Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Marion Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion Junction 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 Marion Junction, Alabama
Property taxes in Marion Junction, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion Junction is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Marion Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion Junction 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 Marion Junction's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the state is found in 36532 with a rate of 0.54%, while the lowest median tax rate is in 35203 at 0.31%. Understanding how these cities compare with Marion Junction provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Junction Tax Rate
0.39%
Average Perry County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | 0.15% | 0.23% | 0.39% | 0.47% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Marion Junction, Alabama
In Marion Junction, 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 Marion Junction, 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 Marion Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Marion Junction is $274 in the 36759 zip code, while the lowest is also $274 in the same zip code. This highlights the importance of understanding local property tax dynamics to ensure you are not overpaying.
Average Marion Junction Assessed Value
$94,900
Average Perry County Assessed Value
$74,720
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | $15,472 | $42,060 | $94,900 | $179,450 | $289,944 |
Source: Ownwell
Property Tax Bills Across Marion Junction, Alabama
In Marion Junction, Perry County, AL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $94,900. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate. For example, the median tax bill here is $274, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Marion Junction can expect their tax bills to vary widely. The 25th percentile tax bill is $114, while the 75th percentile reaches $681, and the 90th percentile goes up to $1,168. These variations can significantly impact homeowners, making it essential to understand how local assessments and tax rates apply to their properties. Understanding these elements helps homeowners anticipate their annual property tax obligations better.
Average Marion Junction Tax Bill
$274
Average Perry County Tax Bill
$333
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion Junction, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36759 | $42 | $114 | $274 | $681 | $1,168 |
Source: Ownwell