Woodstock, Alabama Property Taxes
The median property tax rate in Woodstock, AL is 0.23%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Woodstock being $120,400, the typical annual property tax bill amounts to $287, which is well below the national median of $2,690. Property taxes in Woodstock are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Woodstock's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Woodstock or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodstock, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.23%
Estimate Property Tax Bill
$277
Ownwell’s Woodstock Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Woodstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodstock to provide an estimate of your property tax bill. This valuable tool helps you understand your 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 Woodstock, Alabama
Property taxes in Woodstock, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodstock is 0.23%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Woodstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodstock 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 Woodstock'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 0.33%, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Woodstock provides valuable insights into the varying tax landscape across Bibb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodstock Tax Rate
0.23%
Average Bibb County Tax Rate
0.26%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodstock, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35188 | 0.17% | 0.21% | 0.23% | 0.26% | 0.27% |
Source: Ownwell
Property Tax Assessment Values Across Woodstock, Alabama
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woodstock, Alabama. 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 Bibb 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 Woodstock, 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 Woodstock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in Woodstock is 35188, with a median tax bill of $287.
Average Woodstock Assessed Value
$120,400
Average Bibb County Assessed Value
$88,300
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodstock, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35188 | $34,940 | $69,125 | $120,400 | $176,600 | $242,190 |
Source: Ownwell
Property Tax Bills Across Woodstock, Alabama
In Woodstock, located in Bibb County, AL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Woodstock is $120,400. Local tax authorities apply the county's tax rate to this assessed value to determine the annual tax bill. Homeowners in Woodstock experience a range of tax bills, with the 25th percentile at $161 and the 75th percentile at $422, while the 90th percentile reaches up to $584. Compared to the national median property tax rate of 0.99%, Woodstock's property taxes are relatively modest. This can be advantageous for homeowners, as lower property taxes can make homeownership more affordable and attractive. However, it also means that residents may receive fewer local services funded by property taxes. Understanding these factors is crucial for homeowners to budget effectively and make informed decisions about property investments in Woodstock.
Average Woodstock Tax Bill
$287
Average Bibb County Tax Bill
$224
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodstock, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35188 | $83 | $161 | $287 | $422 | $584 |
Source: Ownwell