Fairfield, Alabama Property Taxes
The median property tax rate in Fairfield, AL is 1.45%, considerably higher than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Fairfield at $80,900, the typical annual property tax bill reaches $790, which is below the national median of $2,690. Property taxes in Fairfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fairfield 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
Fairfield, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$1,173
Ownwell’s Fairfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield 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 Fairfield, Alabama
Property taxes in Fairfield, Alabama, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield is 1.45%, significantly higher than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other counties in Alabama and the national median. For comparison, the 35064 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Fairfield provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfield Tax Rate
1.45%
Average Jefferson County Tax Rate
0.71%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35064 | 0.64% | 0.69% | 1.45% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Alabama
In Fairfield, 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 Jefferson County 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 Fairfield, 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 Fairfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fairfield are both $790, found in the 35064 zip code.
Average Fairfield Assessed Value
$80,900
Average Jefferson County Assessed Value
$150,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35064 | $30,090 | $48,125 | $80,900 | $128,100 | $163,610 |
Source: Ownwell
Property Tax Bills Across Fairfield, Alabama
In Fairfield, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For instance, Fairfield's median home price is $80,900, and property tax bills can range significantly. Homeowners at the 25th percentile pay around $547 annually, while those at the 75th percentile pay approximately $1,088. At the 90th percentile, the tax bill can reach up to $1,453. This variability means that homeowners need to be aware of how changes in their property's assessed value and local tax rates can impact their tax obligations. Comparing these figures to the national median property tax rate of 0.99%, Fairfield's tax bills are relatively moderate, offering some relief to homeowners in the area.
Average Fairfield Tax Bill
$790
Average Jefferson County Tax Bill
$1,159
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35064 | $350 | $547 | $790 | $1,088 | $1,453 |
Source: Ownwell