Woodville, Alabama Property Taxes
The median property tax rate in Woodville, Alabama is 0.39%, 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, the typical annual property tax bill amounts to $598, which is well below the national median of $2,690. Property taxes in Woodville are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Woodville'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 Woodville or another part of Marshall County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodville, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$543
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, Alabama
Property taxes in Woodville, Alabama, play a crucial role in funding essential 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 significantly 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. For comparison, the highest median property tax rate in the area is found in the 36092 zip code at 0.66%, while the lowest is in the 36502 zip code at 0.24%. Understanding how these cities compare with Woodville provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodville Tax Rate
0.39%
Average Marshall County Tax Rate
0.43%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | 0.27% | 0.37% | 0.39% | 0.74% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Woodville, 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 Marshall 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. The median home price in Woodville is $139,309. 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 Woodville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Woodville Assessed Value
$139,309
Average Marshall County Assessed Value
$133,700
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | $33,588 | $68,600 | $139,309 | $249,861 | $326,900 |
Source: Ownwell
Property Tax Bills Across Woodville, Alabama
In Woodville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Woodville is $139,309, and property tax rates can significantly impact homeowners' finances. Factors such as the property's location within Marshall County, the home's assessed value, and applicable exemptions influence the final tax bill. For example, the tax bill at the 25th percentile is $273, while it rises to $981 at the 75th percentile and reaches $1,350 at the 90th percentile. These variations demonstrate how different property values and exemptions can affect individual tax obligations. Comparatively, Woodville's property tax rates are lower than the national median property tax rate of 0.99%, making it a relatively affordable area for homeowners. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan accordingly.
Average Woodville Tax Bill
$598
Average Marshall County Tax Bill
$654
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35776 | $188 | $273 | $598 | $981 | $1,350 |
Source: Ownwell