Understanding Property Taxes and Monthly Costs on Ono Island: 4 Real-World Scenarios
By Meredith Amon, Licensed in Alabama and Florida
"Guided by Integrity. Backed by Experience. Search the Gulf with Meredith Amon."
www.searchthegulf.com/ono-island/
One of the most common questions I get from buyers considering a home on Ono Island is: What are the true monthly costs of ownership? While Alabama’s property tax rates are among the lowest in the country, there are several variables—like construction type, waterfront location, and insurance status—that affect the total carrying cost.
Here are four real-world scenarios based on current market data to help illustrate what you can expect.
Scenario 1: Luxury Waterfront Estate on Old River
Price: $5,300,000
Size: 4,718 sq ft | 100’ waterfront | Gold Fortified
Built: 2024 | 6 Bed, 5 Full + 2 Half Baths
Annual Costs
-
Property Taxes (Est.): $17,225
-
Insurance (Gold Fortified, Geothermal HVAC): $9,500 – $11,000
-
POA Fees: $3,119
-
Utilities: $750/month avg.
Monthly Carrying Costs
≈ $3,361 – $3,445 (excluding mortgage)
Meredith's Note: This home reflects the high end of Ono Island real estate with elevated construction, storm-resistant features, and deep water access—ideal for large vessels. Its Gold Fortified status provides meaningful savings on insurance.
Scenario 2: Older Canal-Front Home (Non-Gold Fortified)
Price: $1,000,000
Size: Approx. 2,800 sq ft | Built in 1990
Waterfront: Yes – Canal with private dock
Roof: Not Gold Fortified
Annual Costs
-
Property Taxes (Est.): $3,250
-
Insurance (Older Construction): $12,000 – $14,000
-
POA Fees: $3,119
-
Utilities: $600/month avg.
Monthly Carrying Costs
≈ $2,900 – $3,200 (excluding mortgage)
Meredith's Note: Canal-front homes built before the 2000s without fortified roofs often face higher insurance premiums. Buyers may choose to upgrade the roof or negotiate a credit from the seller to do so after closing.
Scenario 3: Non-Waterfront Home – Not Gold Fortified
Price: $1,000,000
Size: Approx. 3,000 sq ft | Built early 2000s
Waterfront: No
Roof: Not Gold Fortified
Annual Costs
-
Property Taxes (Est.): $3,250
-
Insurance: $9,000 – $11,000
-
POA Fees: $3,119
-
Utilities: $500/month avg.
Monthly Carrying Costs
≈ $2,300 – $2,600 (excluding mortgage)
Meredith's Note: Even without waterfront access, inland properties offer peace, privacy, and access to Ono Island’s exclusive amenities. These homes can be an excellent value—especially if you’re not a boater.
Scenario 4: Non-Waterfront Home – Gold Fortified
Price: $1,000,000
Size: Approx. 3,000 sq ft | Recently Built
Waterfront: No
Roof: Gold Fortified
Annual Costs
-
Property Taxes (Est.): $3,250
-
Insurance (Gold Fortified): $5,500 – $7,000
-
POA Fees: $3,119
-
Utilities: $500/month avg.
Monthly Carrying Costs
≈ $2,000 – $2,300 (excluding mortgage)
Meredith's Note: Gold Fortified homes reduce insurance costs significantly. Inland new builds with this certification can offer one of the best long-term value scenarios on the island.
What All Buyers Should Know
One-Time Transfer Fee: $8,000 (paid by buyer at closing)
Lender Documentation: Submit a pre-approval letter or proof of funds with any offer
Flood Zone Considerations: Check zone maps—some homes may still require flood insurance, even if elevated
Fortification Savings: A Gold Fortified roof can save 30%–50% on insurance premiums
Ready to Explore Ono Island?
I live here and specialize in helping buyers evaluate every aspect of ownership—from POA regulations to insurance strategies and waterfront construction. Whether you’re looking at an estate on the river or a quiet lot near the tennis courts, I’ll help you make a confident and informed decision.
Email: meredith@searchthegulf.com
Explore Ono Island Listings Now
Meredith Amon is a Gulf Coast Expert Real Estate Advisor, licensed in Alabama and Florida. She specializes in helping buyers and sellers navigate the buying and selling of homes along the Gulf Coast, with deep expertise in luxury homes and waterfront properties on Ono Island.
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