Fayette, Lamar County, Alabama Property Taxes

Name: Property Tax Bills Across Fayette, Lamar County, Alabama
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FAYETTE, AL effective property tax rate: 0.22%, significantly lower than the national median of 1.02%, but lower than the Alabama state median of 0.47%.
Median FAYETTE, AL home value: $91,930
Median annual FAYETTE, AL tax bill: $215, $2,185 lower than the national median property tax bill of $2,400.

How are property taxes in Lamar calculated?

Property taxes in FAYETTE, AL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding FAYETTE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FAYETTE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Fayette, Lamar County, Alabama Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.22%

Estimate Property Tax Bill

$202

$188

Ownwell’s Fayette Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fayette with just two data points. By entering your property's estimated assessed value, our calculator applies Fayette’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lamar County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fayette, Lamar County, Alabama

Local government entities determine property tax rates, leading to significant variation within a state. This is because each county annually estimates its budget needs for public services and divides this by the total value of all taxable property in its area, resulting in the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the basic annual process.

In Fayette, located in Lamar County, Alabama, the effective property tax rate is a reflection of this process. Compared to the national median property tax rate of 1.02%, Fayette's rate is considerably lower. This is indicative of Alabama's overall trend, where property tax rates tend to be below the national average. The median property tax bill in Fayette is also significantly less than the national median of $2,400, making it an attractive location for property owners seeking lower tax obligations. By understanding these differences, property owners in Fayette can make informed decisions about their investments and take advantage of potential savings on property taxes.

Property Tax Rates Across Fayette, Lamar County, Alabama

Source: Ownwell

0.22%

0.26%

0.29%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Fayette Tax Rate

0.22%

Median Effective Lamar County Tax Rate

0.28%

Median Effective Alabama Tax Rate

0.47%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Fayette, Lamar County, Alabama

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
35555	0.10%	0.18%	0.22%	0.25%	0.29%

Source: Ownwell

Property Tax Assessment Values Across Fayette, Lamar County, Alabama

When examining property taxes in Fayette, AL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lamar County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Lamar County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fayette. For example, the median home price in Fayette is $91,930, with tax bills ranging significantly across the county. 35555 has the highest median home price at $91,930.

Property Tax Assessment Values Across Fayette, Lamar County, Alabama

Source: Ownwell

$74,060

$82,995

$91,930

Median Fayette Market Value

$91,930

Median Lamar County Market Value

$83,780

Median Alabama Market Value

$149,600

Median United States Market Value

$235,294

Property Tax Assessment Values Across Fayette, Lamar County, Alabama

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
35555	$38,510	$51,175	$91,930	$133,430	$193,550

Source: Ownwell

Property Tax Bills Across Fayette, Lamar County, Alabama

In Fayette, Alabama, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The tax rate, determined by local government authorities, is then applied to this assessed value. Fayette homeowners experience a range of tax bills, with the 25th percentile at $107 and the 75th percentile reaching $348. The highest median tax bill in the area is $215, significantly lower than the national median property tax bill of $2400. These figures highlight the relatively low property tax burden for Fayette residents compared to the national average. However, even with lower tax bills, homeowners can benefit from ensuring their assessments are accurate and fair. Ownwell provides expert property tax appeal services, helping homeowners potentially reduce their tax bills by identifying discrepancies in property assessments. By leveraging Ownwell's expertise, homeowners in Fayette can ensure they are not overpaying and can maximize their savings on property taxes.

Property Tax Bills Across Fayette, Lamar County, Alabama

Source: Ownwell

$206

$238

$270

Median Fayette Tax Bill

$215

Median Lamar County Tax Bill

$248

Median Alabama Tax Bill

$717

Median United States Tax Bill

$2,400

Property Tax Bills Across Fayette, Lamar County, Alabama

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
35555	$57	$107	$215	$348	$494

Source: Ownwell