Atwood, Tennessee Property Taxes
The median property tax rate in Atwood, TN is 0.66%, slightly above the state median of 0.64% but below the national median of 0.99%. With a median home value of $66,600 in Atwood, the typical annual property tax bill is $447, which is significantly lower than the national median of $2,690. Property taxes in Atwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Atwood'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 Atwood or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Atwood, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$440
Ownwell’s Atwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atwood 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 Atwood, Tennessee
Property taxes in Atwood, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atwood is 0.66%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Atwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atwood 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 Atwood's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38220 zip code has the highest median property tax rate of 0.66%, while the same 38220 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Atwood provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atwood Tax Rate
0.66%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38220 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Atwood, Tennessee
In Atwood, 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 Carroll 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 Atwood, 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 Atwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38220 has both the highest and lowest median tax bill at $447, reflecting the median home price of $66,600.
Average Atwood Assessed Value
$66,600
Average Carroll County Assessed Value
$76,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38220 | $29,240 | $46,050 | $66,600 | $95,700 | $156,960 |
Source: Ownwell
Property Tax Bills Across Atwood, Tennessee
In Atwood, located in Carroll County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Homeowners in Atwood can expect their property tax bills to vary within a range depending on several factors, including the property's location, size, and improvements made. The median home price in Atwood is $66,600, with property tax bills ranging from $305 at the 25th percentile to $1,039 at the 90th percentile. The median tax bill stands at $447, which is relatively modest compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable in Atwood, contributing to the financial well-being of its residents. However, it's important for homeowners to stay informed about any changes in property assessments or tax rates that could affect their annual tax bills.
Average Atwood Tax Bill
$447
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Atwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38220 | $193 | $305 | $447 | $630 | $1,039 |
Source: Ownwell