New Hope, Marshall County, Alabama Property Taxes
Median New Hope, AL effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but higher than the Alabama state median of 0.47%. Median New Hope, AL home value: $80,650. Median annual New Hope, AL tax bill: $408, $1,992 lower than the national median property tax bill of $2,400.
How are property taxes in Marshall calculated?
Property taxes in New Hope, AL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding New Hope’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Hope, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Hope, Marshall County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.68%
Estimate Property Tax Bill
$548
$509
Property Tax Rates Across New Hope, Marshall County, Alabama
Local government entities have the responsibility to set tax rates, which can vary significantly within a state. This variation is due to each county's annual process of estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and legislation play a role in determining tax rates and budgets, this annual process is the core of how rates are established.
In New Hope, located in Marshall County, the effective property tax rate stands as a point of comparison to other cities within Alabama. Alabama's median property tax rate is notably lower than the national median rate of 1.02%. This difference highlights the state's favorable position for property owners when it comes to tax liabilities. By understanding these rates, property owners in New Hope can make informed decisions about appealing their property taxes or seeking exemptions. Comparing New Hope's rate with the state and national medians provides valuable insights into the local tax landscape, potentially uncovering opportunities for savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New Hope Tax Rate
0.68%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marshall County Tax Rate
0.43%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Hope, Marshall County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | 0.38% | 0.38% | 0.68% | 0.82% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across New Hope, Marshall County, Alabama
When examining property taxes in New Hope, Alabama, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marshall County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Marshall County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New Hope. For example, the median home price in New Hope is $80,650, with tax bills ranging significantly across the county. Zip code 35760 has the highest median home price at $80,650.
Property Tax Assessment Values Across New Hope, Marshall County, Alabama
Source: Ownwell
$80,650
$233,425
$386,200
Median New Hope Market Value
$80,650
Median Marshall County Market Value
$133,700
Median Alabama Market Value
$149,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Hope, Marshall County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | $23,640 | $38,450 | $80,650 | $155,825 | $263,872 |
Source: Ownwell
Property Tax Bills Across New Hope, Marshall County, Alabama
Median New Hope Tax Bill
$408
Median Marshall County Tax Bill
$654
Median Alabama Tax Bill
$717
Median United States Tax Bill
$2,400
Property Tax Bills Across New Hope, Marshall County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35760 | $139 | $263 | $408 | $851 | $1,248 |
Source: Ownwell