Crab Orchard, Tennessee Property Taxes
The median property tax rate in Crab Orchard, TN is 0.28%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Crab Orchard at $97,700, the typical annual property tax bill amounts to $277, far below the national median of $2,690. Property taxes in Crab Orchard are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Crab Orchard'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 Crab Orchard or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crab Orchard, 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 Crab Orchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crab Orchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crab Orchard 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 Crab Orchard, Tennessee
Property taxes in Crab Orchard, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crab Orchard is 0.28%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Crab Orchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crab Orchard 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 Crab Orchard's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.89%, while the lowest median tax rate is in Pickett County at 0.37%. Understanding how these cities compare with Crab Orchard provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crab Orchard Tax Rate
0.28%
Average Cumberland County Tax Rate
0.28%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crab Orchard, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37723 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Crab Orchard, Tennessee
In Crab Orchard, 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 Cumberland County Property Assessor 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 Crab Orchard, 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. For instance, the highest median tax bill in the area is $277 in the 37723 zip code, while the lowest median tax bill is also $277 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crab Orchard Assessed Value
$97,700
Average Cumberland County Assessed Value
$180,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crab Orchard, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37723 | $31,280 | $55,300 | $97,700 | $162,600 | $254,060 |
Source: Ownwell
Property Tax Bills Across Crab Orchard, Tennessee
In Crab Orchard, Cumberland County, TN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners in Crab Orchard, the median home price is $97,700. The property tax bill can vary significantly, with the 25th percentile paying around $157 annually and the 75th percentile paying approximately $461. At the 90th percentile, the tax bill can reach up to $721. These figures highlight the range of property tax liabilities in the area, which can impact homeowners' budgets and financial planning. Compared to the national median property tax rate of 0.99%, Crab Orchard's tax rates provide a relatively affordable option for property owners.
Average Crab Orchard Tax Bill
$277
Average Cumberland County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crab Orchard, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37723 | $89 | $157 | $277 | $461 | $721 |
Source: Ownwell