Goodsprings, Alabama Property Taxes
The median property tax rate in Goodsprings, Alabama is 0.24%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Goodsprings, the typical annual property tax bill reaches $166, significantly below the national median of $2,690. Property taxes in Goodsprings are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Goodsprings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Goodsprings 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
Goodsprings, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$151
$140
Ownwell’s Goodsprings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goodsprings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goodsprings 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 Goodsprings, Alabama
Property taxes in Goodsprings, Alabama, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodsprings is 0.24%, which is significantly lower than both the Alabama state median of 0.33% and the U.S. national median of 0.99%. Local government entities within Goodsprings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodsprings 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 Goodsprings' effective property tax rate to other counties in Alabama and the national median. For comparison, the highest median property tax rate in Alabama is 0.66%, while the lowest median tax rate is 0.16%. Understanding how these cities compare with Goodsprings provides valuable insights into the varying tax landscape across Walker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goodsprings Tax Rate
0.24%
Average Walker County Tax Rate
0.31%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodsprings, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35560 | 0.16% | 0.18% | 0.24% | 0.43% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Goodsprings, Alabama
In Goodsprings, 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 Walker 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 Goodsprings, 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 Goodsprings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Goodsprings are both $166.00 in the 35560 zip code.
Average Goodsprings Assessed Value
$62,850
Average Walker County Assessed Value
$97,400
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goodsprings, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35560 | $22,230 | $43,200 | $62,850 | $90,500 | $124,420 |
Source: Ownwell
Property Tax Bills Across Goodsprings, Alabama
In Goodsprings, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Goodsprings is $62,850, and the property tax rate in Walker County is relatively low compared to the national median property tax rate of 0.99%. For homeowners in Goodsprings, the tax bills can vary significantly. At the 25th percentile, the tax bill is $89, while at the 75th percentile, it rises to $247. The top 10% of tax bills reach up to $384. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in market conditions. Homeowners in Goodsprings benefit from lower property taxes, which can ease the financial burden and make homeownership more affordable. However, it's essential for homeowners to stay informed about any changes in property assessments and tax rates to manage their expenses effectively.
Average Goodsprings Tax Bill
$166
Average Walker County Tax Bill
$298
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodsprings, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35560 | $60 | $89 | $166 | $247 | $384 |
Source: Ownwell