Allardt, Tennessee Property Taxes
The median property tax rate in Allardt, TN is 0.48%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Allardt at $92,400, the typical annual property tax bill is $439, well below the national median of $2,690. Property taxes in Allardt are calculated based on the assessed value, which usually falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Allardt'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 Allardt or another part of Fentress County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allardt, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$444
Ownwell’s Allardt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allardt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allardt 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 Allardt, Tennessee
Property taxes in Allardt, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allardt is 0.48%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Allardt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allardt 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 Allardt's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38504 zip code has both the highest and lowest median property tax rate of 0.48%, illustrating a uniform tax rate within this area. Understanding how these cities compare with Allardt provides valuable insights into the varying tax landscape across Fentress County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allardt Tax Rate
0.48%
Average Fentress County Tax Rate
0.48%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Allardt, Tennessee
In Allardt, 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 Fentress 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 Allardt, 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 Allardt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 38504, both standing at $439.
Average Allardt Assessed Value
$92,400
Average Fentress County Assessed Value
$83,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | $30,930 | $54,100 | $92,400 | $143,450 | $239,530 |
Source: Ownwell
Property Tax Bills Across Allardt, Tennessee
In Allardt, 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. For instance, the median home price in Allardt is $92,400. The property tax rate in the area is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location within Fentress County, any applicable exemptions, and the specific rate set by local taxing authorities. The tax bill can vary significantly, with the 25th percentile at $258 and the 75th percentile at $684. For those in the 90th percentile, the tax bill can reach up to $1,138. These property tax bills impact homeowners by adding to their annual expenses, which can affect their overall financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Allardt offers a relatively affordable tax environment for its residents.
Average Allardt Tax Bill
$439
Average Fentress County Tax Bill
$401
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | $147 | $258 | $439 | $684 | $1,138 |
Source: Ownwell