Wadley, Randolph County, Alabama Property Taxes
The median property tax rate in Wadley, AL is 0.32%, significantly lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Wadley at $76,847, the typical annual property tax bill is $244, which is well below the national median of $2,690. Property taxes in Wadley 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 Wadley'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 Wadley or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wadley, Randolph County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$246
$228
Ownwell’s Wadley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wadley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wadley 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 Wadley, Randolph County, Alabama
Property taxes in Wadley, Alabama, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wadley stands at 0.32%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Wadley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wadley 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 Wadley's effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is found in zip code 35203, with a rate of 0.66%, while the lowest median tax rate is in zip code 36741, at just 0.12%. Understanding how these cities compare with Wadley provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wadley Tax Rate
0.32%
Average Randolph County Tax Rate
0.32%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wadley, Randolph County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36276 | 0.18% | 0.25% | 0.32% | 0.50% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Wadley, Randolph County, Alabama
In Wadley, 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 Randolph 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 Wadley, 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. The zip code with the highest and lowest median tax bill is 36276, with a median tax bill of $244. Being aware of these valuation processes in Wadley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wadley, Randolph County, Alabama
Source: Ownwell
$68,238
$133,198
$198,158
Average Wadley Assessed Value
$76,847
Average Randolph County Assessed Value
$99,646
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wadley, Randolph County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36276 | $25,382 | $42,252 | $76,847 | $131,064 | $199,014 |
Source: Ownwell
Property Tax Bills Across Wadley, Randolph County, Alabama
In Wadley, Randolph County, AL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $76,847, homeowners can expect a range of tax bills. The 25th percentile tax bill is around $143, while the 75th percentile tax bill reaches $447, and the 90th percentile tax bill is $682. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Wadley may seem favorable to some homeowners. Understanding these components helps homeowners anticipate their tax obligations and plan their finances accordingly. This system ensures that property taxes are fairly distributed based on property values and local economic conditions.
Average Wadley Tax Bill
$244
Average Randolph County Tax Bill
$364
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Wadley, Randolph County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36276 | $78 | $143 | $244 | $447 | $682 |
Source: Ownwell