Jamestown, Tennessee Property Taxes
The median property tax rate in Jamestown, TN, is 0.48%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $77,700 in Jamestown, the typical annual property tax bill is $372, well below the national median of $2,690. Property taxes in Jamestown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jamestown'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 Jamestown 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
Jamestown, 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 Jamestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jamestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamestown 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 Jamestown, Tennessee
Property taxes in Jamestown, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Jamestown is 0.48%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Jamestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamestown 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 Jamestown's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38556 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Jamestown 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 Jamestown 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 Jamestown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38556 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Jamestown, Tennessee
In Jamestown, 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. Assessment notices in Jamestown 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 Jamestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Jamestown are both $372.00, found in the 38556 zip code.
Average Jamestown Assessed Value
$77,700
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 Jamestown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38556 | $21,900 | $43,675 | $77,700 | $133,600 | $207,870 |
Source: Ownwell
Property Tax Bills Across Jamestown, Tennessee
In Jamestown, Fentress 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. For homeowners in Jamestown, the median home price is $77,700. The property tax rate in the area influences the final tax bill, which can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $209, while those in the 75th percentile might see bills closer to $641. For the top 10% of homeowners, tax bills can reach up to $995. This variability in tax bills is due to differences in property values and specific exemptions or deductions that might apply. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Jamestown experience a range of tax bills, affecting their overall financial planning and housing affordability.
Average Jamestown Tax Bill
$372
Average Fentress County Tax Bill
$401
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamestown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38556 | $106 | $209 | $372 | $641 | $995 |
Source: Ownwell