Gadsden, Tennessee Property Taxes
The median property tax rate in Gadsden, TN is 0.76%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $27,900 in Gadsden, the typical annual property tax bill amounts to $212, significantly below the national median of $2,690. Property taxes in Gadsden are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Gadsden'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 Gadsden or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gadsden, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$212
Ownwell’s Gadsden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gadsden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gadsden 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 Gadsden, Tennessee
Property taxes in Gadsden, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gadsden is 0.76%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Gadsden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gadsden 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 Gadsden's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38337 zip code has the highest median property tax rate of 0.76%, while the 38337 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Gadsden provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gadsden Tax Rate
0.76%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gadsden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38337 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Gadsden, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gadsden, Tennessee. 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 Gibson 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 Gadsden, 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 Gadsden is $27,900, with tax bills ranging from $212 at the 25th percentile to $212 at the 90th percentile. The highest and lowest median tax bills are both $212, found in the 38337 zip code. 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 processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gadsden Assessed Value
$27,900
Average Gibson County Assessed Value
$77,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gadsden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38337 | $27,900 | $27,900 | $27,900 | $27,900 | $27,900 |
Source: Ownwell
Property Tax Bills Across Gadsden, Tennessee
In Gadsden, located in Gibson 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 property's market value. For homeowners in Gadsden, the median home price is $27,900, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the property tax bill, including the property's location, size, and any improvements or additions made to it. In Gadsden, property tax bills are relatively uniform, with the 25th, 75th, and 90th percentile tax bills all being $212. This consistency provides homeowners with a predictable annual expense, which can aid in financial planning. Compared to the national median property tax rate of 0.99%, Gadsden's property tax bills are notably lower, making it an attractive location for homeowners looking for affordability. This lower tax burden can significantly impact a homeowner's budget, allowing for more disposable income or savings.
Average Gadsden Tax Bill
$212
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Gadsden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38337 | $212 | $212 | $212 | $212 | $212 |
Source: Ownwell