Woodville, Madison County, Alabama Property Taxes
The median property tax rate in Woodville, AL is 0.33%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Woodville at $97,250, the typical annual property tax bill amounts to $292, well below the national median of $2,690. Property taxes in Woodville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Woodville'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 Woodville or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodville, Madison County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$321
$298
Ownwell’s Woodville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodville 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 Woodville, Madison County, Alabama
Property taxes in Woodville, Alabama, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodville is 0.33%, significantly lower than both the Alabama state median of 0.40% and the U.S. national median of 0.99%. Local government entities within Woodville set these rates annually, and they can vary across different neighborhoods. Each year, Woodville 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 Woodville's effective property tax rate to other counties in Alabama and the national median. For comparison, 36532 has the highest median property tax rate of 0.53%, while 35175 has the lowest median tax rate of 0.24%. Understanding how these cities compare with Woodville provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodville Tax Rate
0.33%
Average Madison County Tax Rate
0.56%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | 0.18% | 0.24% | 0.33% | 0.67% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Woodville, Madison County, Alabama
In Woodville, 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 Madison 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 Woodville, 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. For instance, the highest median tax bill in Woodville is $292 in the 35776 zip code, while the lowest is also $292 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Woodville, Madison County, Alabama
Source: Ownwell
$97,250
$226,775
$356,300
Average Woodville Assessed Value
$97,250
Average Madison County Assessed Value
$243,200
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | $25,000 | $39,850 | $97,250 | $183,250 | $356,000 |
Source: Ownwell
Property Tax Bills Across Woodville, Madison County, Alabama
In Woodville, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Madison County, where Woodville is located, the median home price stands at $97,250. The property tax rate is applied to this assessed value to determine the annual tax bill. The tax rate in this region is relatively low compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, tax bills in Woodville range significantly, with the 25th percentile at $138 and the 75th percentile at $732. The 90th percentile tax bill reaches up to $986, reflecting variations in property values and exemptions. These tax bills impact homeowners by contributing to their annual expenses, affecting overall affordability. Understanding how these taxes are calculated helps homeowners budget effectively and take advantage of any available exemptions.
Average Woodville Tax Bill
$292
Average Madison County Tax Bill
$1,321
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodville, Madison County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | $107 | $138 | $292 | $732 | $986 |
Source: Ownwell