Scotts Hill, Tennessee Property Taxes
The median property tax rate in Scotts Hill, TN is 0.59%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Scotts Hill, the typical annual property tax bill reaches $474, significantly below the national median of $2,690. Property taxes in Scotts Hill 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 Scotts Hill'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 Scotts Hill 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
Scotts Hill, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$448
Ownwell’s Scotts Hill Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Scotts Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scotts Hill to estimate your property tax bill. This valuable 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 Scotts Hill, Tennessee
Property taxes in Scotts Hill, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scotts Hill is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Scotts Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scotts Hill 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 Scotts Hill's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 38374 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 areas compare with Scotts Hill 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 Scotts Hill 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 Scotts Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38374 | 0.59% | 0.59% | 0.59% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Scotts Hill, Tennessee
In Scotts Hill, 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 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 Scotts Hill, 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. The median home price in Scotts Hill is $75,950, with the 25th percentile tax bill at $274 and the 75th percentile at $802. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Scotts Hill Assessed Value
$75,950
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 Scotts Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38374 | $22,440 | $41,725 | $75,950 | $121,200 | $184,010 |
Source: Ownwell
Property Tax Bills Across Scotts Hill, Tennessee
In Scotts Hill, Tennessee, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The median home price in Scotts Hill stands at $75,950. Homeowners can expect their property tax bill to vary significantly. For instance, the 25th percentile tax bill is around $274, while the 75th percentile tax bill is approximately $802. Those in the 90th percentile might see a tax bill as high as $1,196. The tax bill is influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Scotts Hill offers a relatively affordable tax environment. This can be beneficial for homeowners, as it means lower annual expenses related to property taxes. However, the exact amount each homeowner pays will depend on the specific assessed value of their property and the local tax rate applied by Henderson County.
Average Scotts Hill Tax Bill
$474
Average Henderson County Tax Bill
$514
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Scotts Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38374 | $157 | $274 | $474 | $802 | $1,196 |
Source: Ownwell