Devonia, Tennessee Property Taxes
The median property tax rate in Devonia, TN is 0.66%, slightly higher than the state median of 0.64% but lower than the national median of 0.99%. With the median home value in Devonia at $169,400, the typical annual property tax bill amounts to $1,113, which is below the national median of $2,690. Property taxes in Devonia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Devonia’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Devonia or another part of Anderson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Devonia, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,118
Ownwell’s Devonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Devonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Devonia 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 Devonia, Tennessee
Property taxes in Devonia, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Devonia is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Devonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Devonia 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 Devonia's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37710 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Devonia provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Devonia Tax Rate
0.66%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Devonia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Devonia, Tennessee
In Devonia, Tennessee, 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 Anderson 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 Devonia, 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 Devonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Anderson County, the zip code with both the highest and lowest median tax bill is 37710, with a median tax bill of $1,113.
Average Devonia Assessed Value
$169,400
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Devonia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | $169,400 | $169,400 | $169,400 | $169,400 | $169,400 |
Source: Ownwell
Property Tax Bills Across Devonia, Tennessee
In Devonia, located in Anderson County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Devonia, the median home price is $169,400. The typical tax bill, regardless of percentile, is consistently $1,113. This uniformity suggests a stable and predictable tax environment for residents. Compared to the national median property tax rate of 0.99%, Devonia's tax rate provides a clear picture of how local tax policies impact homeowners. A consistent tax bill can help homeowners budget more effectively and plan for future expenses. Understanding these factors is crucial for homeowners to manage their financial obligations and make informed decisions about property investments.
Average Devonia Tax Bill
$1,113
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Devonia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | $1,113 | $1,113 | $1,113 | $1,113 | $1,113 |
Source: Ownwell