Woodbury, Tennessee Property Taxes
The median property tax rate in Woodbury, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Woodbury at $129,000, the typical annual property tax bill amounts to $867, significantly below the national median of $2,690. Property taxes in Woodbury are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Woodbury’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Woodbury or another part of Cannon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodbury, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$800
Ownwell’s Woodbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbury 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 Woodbury, Tennessee
Property taxes in Woodbury, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Woodbury is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Woodbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbury 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 Woodbury's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37190 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Woodbury provides valuable insights into the varying tax landscape across Cannon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodbury Tax Rate
0.62%
Average Cannon County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37190 | 0.61% | 0.61% | 0.62% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Woodbury, Tennessee
In Woodbury, 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 Cannon 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 Woodbury, 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 Woodbury 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 $867, found in zip code 37190, demonstrating a relatively consistent property tax landscape.
Average Woodbury Assessed Value
$129,000
Average Cannon County Assessed Value
$129,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37190 | $52,740 | $82,000 | $129,000 | $192,100 | $270,580 |
Source: Ownwell
Property Tax Bills Across Woodbury, Tennessee
In Woodbury, Cannon County, TN, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value of the home. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Woodbury, the median home price is $129,000. Property tax bills can vary significantly, with the 25th percentile at $569 and the 75th percentile at $1,258. At the 90th percentile, tax bills can reach up to $1,784. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. High property taxes can impact homeowners by increasing the overall cost of homeownership and influencing decisions about buying or selling property. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Woodbury Tax Bill
$867
Average Cannon County Tax Bill
$846
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37190 | $365 | $569 | $867 | $1,258 | $1,784 |
Source: Ownwell