Goodwater, Tallapoosa County, Alabama Property Taxes
Median Goodwater, Alabama effective property tax rate: 0.28%, significantly lower than the national median of 1.02%, but lower than the Alabama state median of 0.47%.
Median Goodwater, Alabama home value: $95,000
Median annual Goodwater, Alabama tax bill: $249, $2,151 lower than the national median property tax bill of $2,400.
How are property taxes in Tallapoosa calculated?
Property taxes in Goodwater, Alabama 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 Goodwater’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Goodwater, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Goodwater, Tallapoosa County, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.28%
Estimate Property Tax Bill
$266
$247
Property Tax Rates Across Goodwater, Tallapoosa County, Alabama
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Goodwater in Tallapoosa County, Alabama, has a property tax rate that stands out when compared to other cities in the state. The median property tax rate in Alabama is notably lower than the national median of 1.02%. This is reflective of the state’s overall approach to property tax assessments, which tend to be more conservative compared to other regions in the U.S.
For residents in Goodwater, this translates into a lower tax burden, allowing homeowners to allocate more of their finances toward other expenses. However, it’s crucial for property owners to stay informed about potential changes in tax rates and assessments, as these can impact overall financial planning. Comparing Goodwater’s effective property tax rate to other cities in Alabama and the national median provides valuable insight into the region's economic landscape.
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 Goodwater Tax Rate
0.28%
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 Tallapoosa County Tax Rate
0.32%
Median Effective Alabama Tax Rate
0.47%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Goodwater, Tallapoosa County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | 0.14% | 0.22% | 0.28% | 0.31% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Goodwater, Tallapoosa County, Alabama
When examining property taxes in Goodwater, Alabama, 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 Tallapoosa 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.
In Tallapoosa County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Goodwater. For example, the median home price in Goodwater is $95,000, with tax bills ranging significantly across the county. Zip code 35072 has the highest median home price at $95,000.
Property Tax Assessment Values Across Goodwater, Tallapoosa County, Alabama
Source: Ownwell
$55,900
$169,950
$284,000
Median Goodwater Market Value
$95,000
Median Tallapoosa County Market Value
$120,950
Median Alabama Market Value
$149,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Goodwater, Tallapoosa County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | $34,560 | $53,100 | $95,000 | $152,900 | $254,860 |
Source: Ownwell
Property Tax Bills Across Goodwater, Tallapoosa County, Alabama
Median Goodwater Tax Bill
$249
Median Tallapoosa County Tax Bill
$472
Median Alabama Tax Bill
$717
Median United States Tax Bill
$2,400
Property Tax Bills Across Goodwater, Tallapoosa County, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 35072 | $87 | $140 | $249 | $401 | $605 |
Source: Ownwell