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Tax Structure

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State Gross Public Debt

Debt Per Capita

$1,857.14

Total Debt of State

9.1 Billion

Total Debt of Local Governments

21.1 Billion

Combined Total Debt

30.2 Billion

Gross Domestic Product(GDP)

228.8 Billion

Real Estate Growth

1.4%

Median Total State and Local Taxes

National Median Total State and Local Tax Rate Per Household

9.11%

National Median Total State and Local Taxes Paid Per Household

$5,290

State Median Total State and Local Taxes Paid Per Household

$4,186

Difference Between National Median and State Median

-15.32%

State Bond Ratings

Fitch

AA+

Moody's

Aa1

S&P Global

AA

State Income Tax

Income Tax Rate

2.0 - 5.0%

Number of Brackets

3

Top Income Range

$3,000 (S) - $6,000 (M)

State Real Estate Tax

Mean Real Estate Tax Rate

0.42%

Mean Real Estate Taxes Paid

$558

State Unemployment Insurance Tax

New Employer Tax Rate

2.70%

Sales Tax

State Sales Tax Rate

4.00%

Marshall County

1.00%

Madison County

0.50%

Morgan County

1.00%

Lawrence County

3.00%

Franklin County

2.00%

DeKalb County

1.00%

Jackson County

2.00%

Lauderdale County

1.50%

Cullman County

4.50%

Colbert County

1.50%

Cherokee County

3.50%

Limestone County

2.00%

Winston County

2.00%

Minimum Sales Tax Rate (State and County)

4.00%

Maximum Sales Tax Rate (State and County)

8.50%

Sources:

Tax Foundation