Guin, Alabama Property Taxes
The median property tax rate in Guin, AL is 0.29%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Guin at $101,400, the typical annual property tax bill is $266, well below the national median of $2,690. Property taxes in Guin are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Guin'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 Guin or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Guin, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$294
$273
Ownwell’s Guin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guin 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 Guin, Alabama
Property taxes in Guin, Alabama, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Guin is 0.33%, which is significantly lower than both the Alabama state median of 0.39% and the U.S. national median of 0.99%. Local government entities within Guin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guin 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 Guin's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in the state is 0.66%, while the lowest median tax rate is 0.24%. Understanding how these cities compare with Guin 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 Guin Tax Rate
0.29%
Average Fayette County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35563 | 0.16% | 0.24% | 0.29% | 0.54% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Guin, Alabama
In Guin, 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 Fayette 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. Assessment notices in Guin 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 Guin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Guin is $101,400, with median annual tax bills ranging from $106 at the 25th percentile to $881 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 35563, at $266.
Average Guin Assessed Value
$101,400
Average Fayette County Assessed Value
$94,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35563 | $12,240 | $41,400 | $101,400 | $156,350 | $255,720 |
Source: Ownwell
Property Tax Bills Across Guin, Alabama
In Guin, located in Fayette County, AL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. Typically, the assessed value is a percentage of the market value, and local tax rates are applied to this assessed value to determine the tax bill. For example, the median home price in Guin is $101,400. Homeowners in the 25th percentile can expect a tax bill around $106, while those in the 75th percentile might see bills closer to $487. At the 90th percentile, tax bills can reach up to $881. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the final tax bill. Despite these variations, Guin's property tax rates are relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable in Guin, providing financial relief to homeowners while maintaining essential public services funded by these taxes.
Average Guin Tax Bill
$266
Average Fayette County Tax Bill
$330
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Guin, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35563 | $62 | $106 | $266 | $487 | $881 |
Source: Ownwell