Whiteville, Tennessee Property Taxes
The median property tax rate in Whiteville, TN is 0.32%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Whiteville at $100,400, the typical annual property tax bill is $324, which is well below the national median of $2,690. Property taxes in Whiteville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whiteville'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 Whiteville 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
Whiteville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$321
Ownwell’s Whiteville Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in Whiteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whiteville to estimate your property tax bill. This insightful tool aids in understanding potential tax liabilities. For those interested in more granular data, localized neighborhood trends are available further down the page. Your property’s assessed value is determined by Fayette County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Whiteville, Tennessee
Property taxes in Whiteville, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Whiteville is 0.57%, which is higher than the Tennessee state median of 0.56% but still below the U.S. national median of 0.99%. Local government entities within Whiteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whiteville 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 Whiteville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38103 zip code has the highest median property tax rate of 1.97%, while the 38365 zip code has the lowest median tax rate of 0.31%. Understanding how these cities compare with Whiteville provides valuable insights into the varying tax landscape across Hardeman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whiteville Tax Rate
0.32%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whiteville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38075 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Whiteville, Tennessee
In Whiteville, 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 Whiteville, 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. The median home price in Whiteville is $100,400, with tax bills ranging from $150 at the 25th percentile to $710 at the 90th percentile. The highest and lowest median tax bills are both $324, found in the zip code 38075. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whiteville Assessed Value
$100,400
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 Whiteville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38075 | $27,840 | $46,600 | $100,400 | $162,400 | $219,900 |
Source: Ownwell
Property Tax Bills Across Whiteville, Tennessee
Property tax bills in Whiteville, located in Fayette County, TN, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the home. For homeowners in Whiteville, the median home price is $100,400. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the total tax bill, including the property's size, location, and any applicable exemptions or deductions. For instance, tax bills in the 25th percentile are around $150, while those in the 75th percentile reach up to $524, and in the 90th percentile, they can be as high as $710. These variations show how different factors can affect the tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Whiteville's property taxes can be relatively modest, providing some financial relief to homeowners in the area. Understanding these factors can help residents anticipate their tax obligations more accurately.
Average Whiteville Tax Bill
$324
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Whiteville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38075 | $90 | $150 | $324 | $524 | $710 |
Source: Ownwell