Winfield, Alabama Property Taxes
The median property tax rate in Winfield, AL is 0.30%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Winfield at $115,550, the typical annual property tax bill is $371, well below the national median of $2,690. Property taxes in Winfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winfield'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 Winfield 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
Winfield, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Winfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winfield 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 Winfield, Alabama
Property taxes in Winfield, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winfield is 0.33%, significantly lower than the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winfield 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. Understanding how Winfield's effective property tax rate compares to other counties in Alabama and the national median 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 Winfield Tax Rate
0.30%
Average Fayette County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | 0.21% | 0.26% | 0.30% | 0.50% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, Alabama
In Winfield, 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. In Winfield, 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 Winfield 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 bill is 35594, both at $371. The median home price in Winfield is $115,550, with tax bills ranging from $151 at the 25th percentile to $921 at the 90th percentile.
Average Winfield Assessed Value
$115,550
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 Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | $21,930 | $51,950 | $115,550 | $194,000 | $270,700 |
Source: Ownwell
Property Tax Bills Across Winfield, Alabama
In Winfield, located in Fayette County, AL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. Homeowners in Winfield can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $151, while the 75th percentile tax bill reaches $638. At the 90th percentile, tax bills can go up to $921. These figures illustrate the range of property tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Winfield's tax bills suggest a relatively lower burden, considering the highest median tax bill in the area is $371. This variability in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Winfield Tax Bill
$371
Average Fayette County Tax Bill
$330
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35594 | $52 | $151 | $371 | $638 | $921 |
Source: Ownwell