Winfield, Alabama Property Taxes
The median property tax rate in Winfield, AL is 0.34%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $125,450 in Winfield, the typical annual property tax bill is $483, well below the national median of $2,690. Property taxes in Winfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winfield'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 Winfield 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
Winfield, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$427
Ownwell’s Winfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winfield 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 Winfield, Alabama
Property taxes in Winfield, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winfield is 0.33%, significantly lower than both the Alabama state median of 0.41% and the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winfield 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 Winfield's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in Shelby County at 0.64%, while the lowest median tax rate is in Crenshaw County at 0.15%. Understanding how these cities compare with Winfield provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winfield Tax Rate
0.34%
Average Marion County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | 0.24% | 0.29% | 0.34% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, Alabama
In Winfield, 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 Marion 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 Winfield, 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. For instance, the median home price in Winfield is $125,450, with tax bills ranging from $292 at the 25th percentile to $1,210 at the 90th percentile. 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 Winfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winfield Assessed Value
$125,450
Average Marion County Assessed Value
$95,335
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | $43,027 | $73,170 | $125,450 | $192,440 | $302,016 |
Source: Ownwell
Property Tax Bills Across Winfield, Alabama
In Winfield, Marion County, AL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $125,450, homeowners can expect a tax bill that typically falls between $292 at the 25th percentile and $754 at the 75th percentile, with the 90th percentile reaching up to $1,210. The tax rate in Winfield is relatively low compared to the national median property tax rate of 0.99%. This lower tax rate can make homeownership more affordable, as the tax burden is lighter on residents. However, it’s important to note that even within the same zip code, tax bills can vary. In Winfield's 35594 zip code, the median tax bill is $483. These variations depend on several factors, including the specific property's assessed value and any applicable exemptions or deductions.
Average Winfield Tax Bill
$483
Average Marion County Tax Bill
$328
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | $163 | $292 | $483 | $754 | $1,210 |
Source: Ownwell