|
|
| Property Taxes three to six times lower than major metropolitan areas |
 |
| Franklin County Alabama offers businesses and individuals large savings when it comes to taxes. Property tax rates three to six times lower than major metropolitan areas and corporate income tax saving as much as 60%! If you are serious about maximizing profits and lowering expenses, Franklin County Alabama is the natural choice. |
| Corporate Income Tax Rates nearly one third of that compared to other areas |
 |
| Property Taxes |
Property tax is levied on the owners or real and personal property within Alabama. Section 214 of the Alabama Constitution limits the state millage rate on both real and personal property to 6.5 mills ($6.50 for every $1,000 of assessed value). Property is assessed in one of the following four classes and assessment rations.
If you would like to estimate property taxes for Franklin County Alabama, use our Tax Estimate Calculator here or in the left column. |
| Class I - Property of utilities - 30% |
Class II - Business property - 20% |
| Class III - Agriculture, forest, residential property - 10% |
Class IV - Private automobiles - 15% |
| Franklin County Alabama Local Property Tax Rates |
| Alabama State Taxes |
Millage |
| Public School |
3.0 |
| Soldier |
1.0 |
| General Fund |
2.5 |
| Total State |
6.5 |
| Franklin County Taxes |
Millage |
| General Fund |
11.7 |
| Road and Bridge |
4.8 |
| $1.35 per parcel computer fee |
|
| Total County |
16.5 |
| Franklin County School Taxes |
Millage |
| County Wide |
5.5 |
| District 6 |
4.5 |
| District 7 |
4.5 |
| Total School |
10.0 |
| Municipality Taxes |
Millage |
| Russellville |
23.6 (7.87 mills to education) |
| Red Bay |
10.0 |
| Phil Campbell |
10.0 |
| Vina |
5.0 |
| Hodges |
10.0 |
| $.10 per acre timberland tax (statewide) |
|
| Exemptions |
Alabama does not levy a property tax on the inventory of goods, wares and merchandise offered for sale.
Pollution control exemptions are also offered, whereas all equipment, facilities or materials constructed or acquired for pollution control are exempt from property tax.
(Source: www.ador.al.state.us)
|
| Sales and Use Tax |
| Alabama sales tax is a privelege tax imposed on retail sales (sales made to the end-user) of all tangible personal property sold in Alabama by businesses located in Alabama. Businesses or individuals that purchase tangible personal property sold outside of Alabama and bring the property back to Alabama for storage, use or consumption should remit the tax on the purchase. |
| Alabama State Sales Tax Rates |
| The State of Alabama charges different rates of taxes depending on the type of goods sold. In addition, local governments charge an additional rate for individual cities and counties. Alabama State and Franklin County rates are listed below. |
| |
Auto |
Farm |
General |
Manufacturing Machinery |
| Alabama |
2% |
|
4% |
1.5% |
| Franklin County |
.5% |
.5% |
1% |
.5% |
| Russellville |
.75% |
.75% |
3% |
.75% |
| Red Bay |
.5% |
.5% |
2.5% |
.5% |
| Phil Campbell |
.25% |
.25% |
2% |
.25% |
|
| Tax Summary - Russellville |
State |
Franklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
3% (1.15% to education) |
8% |
| Tax Summary - Red bay |
State |
CountyFranklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
2.5% |
7.5% |
| Tax Summary - Phil Campbell |
State |
Franklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
2% |
7% |
|
| Raw Materials Exemption |
| Raw materials used by manufacturers as an ingredient of their manufactured product are exempt from sales and use tax. |
| Manufacturing Rates by City |
| Manufacturing Rate - Russellville |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.75% (% to education) |
2.25% |
| Manufacturing Rate - Red Bay |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.5% (.0025% to education) |
2% |
| Manufacturing Rate - Phil Campbell |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.25% (% to education) |
1.75% |
|
|
| Sales and Use Tax |
| Alabama sales tax is a privelege tax imposed on retail sales (sales made to the end-user) of all tangible personal property sold in Alabama by businesses located in Alabama. Businesses or individuals that purchase tangible personal property sold outside of Alabama and bring the property back to Alabama for storage, use or consumption should remit the tax on the purchase. |
| Alabama State Sales Tax Rates |
| The State of Alabama charges different rates of taxes depending on the type of goods sold. In addition, local governments charge an additional rate for individual cities and counties. Alabama State and Franklin County rates are listed below. |
| |
Auto |
Farm |
General |
Manufacturing Machinery |
| Alabama |
2% |
|
4% |
1.5% |
| Franklin County |
.5% |
.5% |
1% |
.5% |
| Russellville |
.75% |
.75% |
3% |
.75% |
| Red Bay |
.5% |
.5% |
2.5% |
.5% |
| Phil Campbell |
.25% |
.25% |
2% |
.25% |
|
| Tax Summary - Russellville |
State |
Franklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
3% (1.15% to education) |
8% |
| Tax Summary - Red bay |
State |
CountyFranklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
2.5% |
7.5% |
| Tax Summary - Phil Campbell |
State |
Franklin County |
City |
Total |
| |
4% |
1% (Goes to education) |
2% |
7% |
|
| Raw Materials Exemption |
| Raw materials used by manufacturers as an ingredient of their manufactured product are exempt from sales and use tax. |
| Manufacturing Rates by City |
| Manufacturing Rate - Russellville |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.75% (% to education) |
2.25% |
| Manufacturing Rate - Red Bay |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.5% (.0025% to education) |
2% |
| Manufacturing Rate - Phil Campbell |
State |
Franklin County |
City |
Total |
| |
1% |
.5% (Goes to education) |
.25% (% to education) |
1.75% |
|
|
| Tax Comparison Chart |
Source: Ala. Dev. Office, February, 2001
|
AL
|
CA
|
GA
|
IL
|
MA
|
NJ
|
NY
|
PROPERTY TAX |
|
|
|
|
|
|
|
Inventory Property Tax Exemption
|
yes
|
yes
|
no
|
yes
|
yes
|
yes
|
yes
|
Average State/Local Per Capita Property Tax
|
$234
|
$715
|
$652
|
$1,056
|
$1,063
|
$1,604
|
$1,279
|
CORPORATE INCOME TAX |
|
|
|
|
|
|
|
Net Effective Corp. Income Tax Rate
|
3.30%
|
9.30%
|
6.00%
|
4.80%
|
9.50%
|
9.00%
|
9.00%
|
Federal Income Tax Deduction w/o Limit
|
yes
|
no
|
no
|
no
|
no
|
no
|
no
|
SALES/USE TAX |
|
|
|
|
|
|
|
State Sales/Use Tax Rate
|
4.00%
|
6.00%
|
4.00%
|
6.25%
|
5.00%
|
6.00%
|
4.00%
|
UNEMPLOYMENT INSURANCE |
|
|
|
|
|
|
|
New Employer Tax Rate
|
2.70%
|
3.40%
|
2.62%
|
2.70%
|
2.13%
|
2.80%
|
4.00%
|
Taxable Wage Base
|
$8,000
|
$7,000
|
$8,500
|
$9,000
|
$10,800
|
$21,200
|
$8,500
|
PERSONAL INCOME TAX |
|
|
|
|
|
|
|
Per Capita Tax Revenue from Personal Income
|
$385
|
$651
|
$577
|
$488
|
$1,101
|
$596
|
$1,176
|
Federal Income Tax Deduction w/o Limit
|
yes
|
no
|
no
|
no
|
no
|
no
|
no
|
AVG. SALARY & IND. TAX BURDEN |
|
|
|
|
|
|
|
Per Capita State Taxes
|
$1,230
|
$1,811
|
$1,400
|
$1,478
|
$2,045
|
$1,801
|
$1,878
|
Annual Avg. Mfg. Salary
|
$31,299
|
$44,720
|
$34,107
|
$42,425
|
$47,603
|
$44,126
|
$46,402
|
|
|
