Estill Springs, Tennessee Property Taxes
The median property tax rate in Estill Springs, TN is 0.58%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $49,900 in Estill Springs, the typical annual property tax bill is $289, significantly below the national median of $2,690. Property taxes in Estill Springs are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Estill Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Estill Springs or another part of Coffee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Estill Springs, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$289
Ownwell’s Estill Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Estill Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Estill Springs 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 Estill Springs, Tennessee
Property taxes in Estill Springs, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Estill Springs is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Estill Springs set these rates annually, and they can vary across different neighborhoods. Each year, Estill Springs 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. Understanding how Estill Springs compares with other areas in Coffee County provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Estill Springs Tax Rate
0.58%
Average Coffee County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Estill Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37330 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Estill Springs, Tennessee
In Estill Springs, 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 Coffee 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 Estill Springs, 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 Estill Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $289.00 in zip code 37330.
Average Estill Springs Assessed Value
$49,900
Average Coffee County Assessed Value
$105,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Estill Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37330 | $21,320 | $28,500 | $49,900 | $122,900 | $222,800 |
Source: Ownwell
Property Tax Bills Across Estill Springs, Tennessee
In Estill Springs, Coffee County, TN, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The local tax rate, known as the millage rate, is then applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Estill Springs is $49,900. Homeowners in Estill Springs experience varying tax bills. At the 25th percentile, the tax bill is $166, while at the 75th percentile, it reaches $716. For those at the 90th percentile, the tax bill can be as high as $1,298. These figures show significant variation, highlighting how property characteristics and assessments impact the final tax amount. Comparing these figures to the national median property tax rate of 0.99%, Estill Springs homeowners generally face lower property tax bills. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Estill Springs Tax Bill
$289
Average Coffee County Tax Bill
$805
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Estill Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37330 | $124 | $166 | $289 | $716 | $1,298 |
Source: Ownwell