Goodwater, Clay County, Alabama Property Taxes
Median Goodwater, Alabama effective property tax rate: 0.24%, significantly lower than the national median of 1.02%, but lower than the Alabama state median of 0.47%.
Median Goodwater, Alabama home value: $62,595
Median annual Goodwater, Alabama tax bill: $142, $2,258 lower than the national median property tax bill of $2,400.
How are property taxes in Clay County calculated?
Property taxes in Goodwater, Alabama are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Goodwater’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Goodwater, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Goodwater, Clay County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.24%
Estimate Property Tax Bill
$150
$139
Property Tax Rates Across Goodwater, Clay County, Alabama
Local government entities determine tax rates, which can differ significantly within a state. Annually, each county calculates its budgetary needs for public services and divides this by the total value of all taxable properties within its area. This process establishes the property tax rate. Although setting these rates and budgets involves votes and laws, this is the basic annual procedure.
In Goodwater, located in Clay County, the effective property tax rate is notably lower than both the state and national medians. The median property tax rate in Alabama is considerably below the national median of 1.02%. This makes Goodwater an attractive location for property owners looking to minimize their property tax liabilities. The lower tax rate can be particularly appealing for homeowners and investors alike, offering potential savings when compared to other regions. By understanding these differences, property owners in Goodwater can better navigate their tax responsibilities and potentially benefit from reduced expenses. Comparing Goodwater’s tax rate to other cities in Alabama and the national average highlights its advantageous position for property owners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Goodwater Taxx Rate
0.24%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Clay County Taxx Rate
0.28%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Goodwater, Clay County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | 0.14% | 0.18% | 0.24% | 0.31% | 0.31% |
Source: Ownwell
Property Tax Assessment Values Across Goodwater, Clay County, Alabama
When examining property taxes in Goodwater, Alabama, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Clay County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Clay County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Goodwater. For example, the median home price in Goodwater is $62,595, with tax bills ranging significantly across the county. Zip code 35072 has the highest median home price at $62,595.
Property Tax Assessment Values Across Goodwater, Clay County, Alabama
Source: Ownwell
$62,540
$77,205
$91,870
Median Goodwater Market Value
$62,595
Median Clay County Market Value
$72,990
Median Alabama Market Value
$149,600
Median United States Market Value
$244,900
Property Tax Assessment Values Across Goodwater, Clay County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | $20,374 | $35,508 | $62,595 | $106,305 | $171,047 |
Source: Ownwell
Property Tax Bills Across Goodwater, Clay County, Alabama
In Goodwater, located in Clay County, Alabama, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The median home price in Goodwater is $62,595. The property tax rate in this region is significantly lower than the national median property tax rate of 1.02%, resulting in a lower tax burden for homeowners. For instance, the tax bill at the 25th percentile is $79, while at the 75th percentile, it is $264. The highest median tax bill in the area is $142, which is substantially below the national median property tax bill of $2,400.
This affordable tax environment can be beneficial, but it’s still important for homeowners to ensure they’re not overpaying. Ownwell assists homeowners by reviewing property assessments and identifying potential savings through appeals and exemptions. By leveraging expert knowledge and local data, Ownwell can help you reduce your property tax bill, ensuring you only pay what is fair.
Median Goodwater Tax Bill
$142
Median Clay County Tax Bill
$201
Median Alabama Tax Bill
$717
Median United States Tax Bill
$2,690
Property Tax Bills Across Goodwater, Clay County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | $43 | $79 | $142 | $264 | $414 |
Source: Ownwell