Clarkrange, Tennessee Property Taxes
The median property tax rate in Clarkrange, 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 Clarkrange at $96,700, the typical annual property tax bill is around $462, far below the national median of $2,690. Property taxes in Clarkrange are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Clarkrange'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 Clarkrange 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
Clarkrange, 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 Clarkrange Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarkrange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarkrange 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 Clarkrange, Tennessee
Property taxes in Clarkrange, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarkrange is 0.48%, notably lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Clarkrange set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarkrange 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 Clarkrange's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38553 zip code has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Clarkrange 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 Clarkrange 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 Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Clarkrange, Tennessee
In CLARKRANGE, 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 local 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 CLARKRANGE, 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 CLARKRANGE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in CLARKRANGE is $96,700, with the 25th percentile tax bill at $265 and the 75th percentile at $711. The highest and lowest median tax bills both amount to $462, found in zip code 38553. By staying informed about these figures, property owners can make educated decisions to potentially reduce their tax liabilities.
Average Clarkrange Assessed Value
$96,700
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 Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | $28,840 | $55,100 | $96,700 | $148,300 | $206,940 |
Source: Ownwell
Property Tax Bills Across Clarkrange, Tennessee
In Clarkrange, located in Fentress 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. Homeowners in Clarkrange typically see property tax bills that vary significantly. The 25th percentile tax bill is around $265, while the 75th percentile tax bill reaches $711. For those at the higher end, the 90th percentile tax bill can be as much as $1,002. The median home price in Clarkrange is $96,700, and the median property tax bill is $462, which is considerably lower than the national median property tax rate of 0.99%. Various factors influence the tax bill, including property size, location, and improvements made to the property. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area.
Average Clarkrange Tax Bill
$462
Average Fentress County Tax Bill
$401
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | $140 | $265 | $462 | $711 | $1,002 |
Source: Ownwell