Simi Valley, Tennessee Property Taxes
The median property tax rate in Simi Valley, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $246,800 in Simi Valley, the typical annual property tax bill amounts to $1,622, which is below the national median of $2,690. Property taxes in Simi Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Simi Valley'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 Simi Valley or another part of Anderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Simi Valley, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s SIMI VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SIMI VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SIMI VALLEY 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 Simi Valley, Tennessee
Property taxes in Simi Valley, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Simi Valley is 0.66%, lower than both the Tennessee state median of 0.71% and the U.S. national median of 0.99%. Local government entities within Simi Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Simi Valley 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 Simi Valley's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 93063 zip code has the highest median property tax rate of 0.66%, while the 93063 zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Simi Valley 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 Simi Valley 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 Simi Valley, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93063 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Simi Valley, Tennessee
In Simi Valley, 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 Simi Valley, 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 Simi Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,622, specifically in the 93063 zip code, providing a clear picture of the tax landscape for local homeowners.
Average Simi Valley Assessed Value
$246,800
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 Simi Valley, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93063 | $246,800 | $246,800 | $246,800 | $246,800 | $246,800 |
Source: Ownwell
Property Tax Bills Across Simi Valley, Tennessee
In Simi Valley, Anderson County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Simi Valley can expect their tax bills to reflect this assessed value multiplied by the local tax rate. The median home price in Simi Valley is $246,800. The property tax rate in Anderson County is applied to this assessed value to calculate the tax bill. For example, homeowners in the 93063 zip code experience a median tax bill of $1,622, which is consistent across various percentiles (25th, 75th, and 90th). This tax bill directly impacts homeowners by contributing to local services such as schools, public safety, and infrastructure. Given the national median property tax rate of 0.99%, Simi Valley's tax rate provides a comparative perspective for homeowners evaluating their financial commitments. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Simi Valley Tax Bill
$1,622
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Simi Valley, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93063 | $1,622 | $1,622 | $1,622 | $1,622 | $1,622 |
Source: Ownwell