Woodland, Alabama Property Taxes
The median property tax rate in Woodland, AL is 0.31%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With a median home value of $99,798 in Woodland, the typical annual property tax bill comes to $319, well below the national median of $2,690. Property taxes in Woodland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Woodland'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 Woodland 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
Woodland, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$309
Ownwell’s Woodland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Woodland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodland 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 Woodland, Alabama
Property taxes in Woodland, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland is 0.33%, significantly lower than both the Alabama state median of 0.39% and the U.S. national median of 0.99%. Local government entities within Woodland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland 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 Woodland's effective property tax rate to other counties in Alabama and the national median. For comparison, ZIP code 12345 has the highest median property tax rate of 0.45%, while ZIP code 67890 has the lowest median tax rate of 0.25%. Understanding how these cities compare with Woodland 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 Woodland Tax Rate
0.31%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | 0.18% | 0.24% | 0.31% | 0.41% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Woodland, Alabama
In Woodland, 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 local 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 Woodland, 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 Woodland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Randolph County are both $319.00, found in the zip code 36280.
Average Woodland Assessed Value
$99,798
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 Woodland, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | $33,914 | $55,649 | $99,798 | $176,599 | $272,658 |
Source: Ownwell
Property Tax Bills Across Woodland, Alabama
Property tax bills in Woodland, located in Randolph County, AL, are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $99,798, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $173, while at the 75th percentile, it rises to approximately $533. Those in the 90th percentile might see tax bills as high as $860. These tax rates and bills are relatively low compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include property size, location, and any applicable exemptions. For homeowners, understanding how these elements affect their tax obligations can aid in financial planning and potentially appealing their assessed values to ensure they are not overpaying.
Average Woodland Tax Bill
$319
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36280 | $100 | $173 | $319 | $533 | $860 |
Source: Ownwell