Huron, Tennessee Property Taxes
The median property tax rate in Huron, TN is 0.59%, notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $79,250 in Huron, the typical annual property tax bill amounts to $470, significantly below the national median of $2,690. Property taxes in Huron are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Huron'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 Huron 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
Huron, 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 Huron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huron 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 Huron, Tennessee
Property taxes in Huron, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huron is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Huron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huron 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 Huron's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38345 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Huron provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huron Tax Rate
0.59%
Average Henderson County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huron, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38345 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Huron, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Huron, 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 Henderson 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 Huron, 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 Huron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $470, specifically in zip code 38345.
Average Huron Assessed Value
$79,250
Average Henderson County Assessed Value
$78,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huron, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38345 | $19,650 | $40,725 | $79,250 | $129,900 | $200,900 |
Source: Ownwell
Property Tax Bills Across Huron, Tennessee
In Huron, located in Henderson County, TN, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $79,250, homeowners can expect to pay varying amounts depending on their property's assessed value and the specific tax rate applied. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the final tax bill. In Huron, the 25th percentile of tax bills is around $241, while the 75th percentile reaches approximately $770. At the 90th percentile, tax bills can climb to $1,192. This range demonstrates the variability in property tax burdens among homeowners, influenced by the unique characteristics of each property. Comparatively, the median tax bill in Huron, at $470, aligns closely with the highest and lowest median tax bills within the same zip code, providing a consistent tax landscape for residents.
Average Huron Tax Bill
$470
Average Henderson County Tax Bill
$514
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Huron, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38345 | $116 | $241 | $470 | $770 | $1,192 |
Source: Ownwell