La Grange, Tennessee Property Taxes
The median property tax rate in LA GRANGE, TN is 0.62%, slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in LA GRANGE at $78,650, the typical annual property tax bill is around $515, significantly below the national median of $2,690. Property taxes in LA GRANGE are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding LA GRANGE'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 LA GRANGE or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Grange, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$488
Ownwell’s LA GRANGE Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in LA GRANGE with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in LA GRANGE to project your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across La Grange, Tennessee
Property taxes in La Grange, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Grange is 0.62%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within La Grange set these rates annually, and they can vary significantly across different neighborhoods. Each year, La Grange 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 La Grange's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38046 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 cities compare with La Grange provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Grange Tax Rate
0.62%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Grange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38046 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across La Grange, Tennessee
In LA GRANGE, 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 Fayette 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 LA GRANGE, 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 LA GRANGE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $515.00 in the 38046 zip code, while the lowest is also $515.00 in the same zip code.
Average La Grange Assessed Value
$78,650
Average Fayette County Assessed Value
$164,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Grange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38046 | $10,350 | $19,025 | $78,650 | $250,425 | $319,900 |
Source: Ownwell
Property Tax Bills Across La Grange, Tennessee
In La Grange, Fayette County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. For instance, the median home price in La Grange is $78,650. Homeowners in the 25th percentile can expect a tax bill of around $118, while those in the 75th percentile might pay about $1,552. At the 90th percentile, the tax bill can reach up to $1,981. Comparatively, the highest and lowest median tax bills in the area are both $515, found in the 38046 zip code. These property taxes can significantly impact homeowners' budgets, making it essential for them to understand how their tax bills are calculated and what factors are considered.
Average La Grange Tax Bill
$515
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across La Grange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38046 | $64 | $118 | $515 | $1,552 | $1,981 |
Source: Ownwell