Jackson, Tennessee Property Taxes
The median property tax rate in Jackson, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but still below the national median of 0.99%. With a median home value of $68,300 in Jackson, the typical annual property tax bill amounts to $450, which is significantly lower than the national median of $2,690. Property taxes in Jackson are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Jackson's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Jackson or another part of the city, being informed about the local property tax system is crucial for maximizing your investment and minimizing costs.
Last Updated June 14, 2024
Jackson, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$451
Ownwell’s Jackson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jackson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jackson 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 Jackson, Tennessee
Property taxes in Jackson, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jackson is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Jackson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jackson 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 Jackson's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38305 zip code has the highest median property tax rate of 0.66%, while the same 38305 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Jackson 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 Jackson 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 Jackson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38305 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Jackson, Tennessee
In Jackson, 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 local 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 Jackson, 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 Jackson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jackson are both found in the 38305 zip code, with a median tax bill of $450.
Average Jackson Assessed Value
$68,300
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 Jackson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38305 | $22,930 | $31,075 | $68,300 | $128,475 | $171,060 |
Source: Ownwell
Property Tax Bills Across Jackson, Tennessee
In Jackson, TN, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Jackson is $68,300. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $205 and the 75th percentile at $846. For those at the 90th percentile, tax bills can reach up to $1,126. These figures highlight the range of property tax burdens depending on the assessed value and specific circumstances of each property. Several factors influence a homeowner's tax bill, including property location, home improvements, and changes in market conditions. The highest and lowest median tax bills in Jackson are both $450, which aligns with the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Jackson Tax Bill
$450
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Jackson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38305 | $152 | $205 | $450 | $846 | $1,126 |
Source: Ownwell