Wedowee, Alabama Property Taxes
The median property tax rate in Wedowee, AL is 0.32%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $198,158 in Wedowee, the typical annual property tax bill is $725, well below the national median of $2,690. Property taxes in Wedowee are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Wedowee's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wedowee or another part of Randolph County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wedowee, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$634
Ownwell’s Wedowee Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wedowee with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wedowee to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by Randolph County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Wedowee, Alabama
Property taxes in Wedowee, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wedowee is 0.32%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Wedowee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wedowee 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 Wedowee'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 Jefferson County at 0.66%, while Randolph County, where Wedowee is located, has one of the lowest median tax rates at 0.32%. Understanding how these cities compare with Wedowee provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wedowee Tax Rate
0.32%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wedowee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36278 | 0.24% | 0.30% | 0.32% | 0.55% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Wedowee, Alabama
In Wedowee, 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 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 Wedowee, 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 Wedowee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wedowee, the zip code with the highest and lowest median tax bill is 36278, with a median tax bill of $725.
Average Wedowee Assessed Value
$198,158
Average Randolph County Assessed Value
$99,646
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wedowee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36278 | $43,382 | $89,534 | $198,158 | $354,105 | $502,698 |
Source: Ownwell
Property Tax Bills Across Wedowee, Alabama
In Wedowee, located in Randolph County, AL, property tax bills are determined by several key factors. The process begins with the assessed value of the property, which is based on a percentage of the market value. Local tax rates, set by various taxing authorities, are then applied to this assessed value to calculate the annual tax bill. Homeowners in Wedowee experience a range of property tax bills. For instance, the 25th percentile tax bill is $319, while the 75th percentile tax bill reaches $1252. At the 90th percentile, homeowners might see tax bills as high as $1987. The median home price in Wedowee is $198,158, and the median tax bill in the area is $725, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners budget effectively and appreciate the value derived from their contributions to the community.
Average Wedowee Tax Bill
$725
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Wedowee, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36278 | $153 | $319 | $725 | $1,252 | $1,987 |
Source: Ownwell