Centerville, Tennessee Property Taxes
The median property tax rate in Centerville, TN is 0.58%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Centerville at $104,900, the typical annual property tax bill reaches $682, well below the national median of $2,690. Property taxes in Centerville 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 Centerville'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 Centerville 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
Centerville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$608
Ownwell’s Centerville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Centerville with just two pieces of information. By entering your property's estimated assessed value, the calculator uses the median tax rate in Centerville to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Centerville, Tennessee
Property taxes in Centerville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerville is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Centerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centerville 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 Centerville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37033 zip code has the highest median property tax rate of 0.58%, while the 37033 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Centerville provides valuable insights into the varying tax landscape across Hickman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centerville Tax Rate
0.58%
Average Hickman County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centerville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37033 | 0.50% | 0.58% | 0.58% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Centerville, Tennessee
In Centerville, 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 Hickman 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 Centerville, 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. For example, the median home price in Centerville is $104,900, with tax bills ranging from $227 at the 25th percentile to $1,750 at the 90th percentile. The highest median tax bill is $682 in zip code 37033, while the lowest is also $682 in the same zip code. 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 Centerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centerville Assessed Value
$104,900
Average Hickman County Assessed Value
$65,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centerville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37033 | $14,900 | $36,300 | $104,900 | $181,100 | $279,920 |
Source: Ownwell
Property Tax Bills Across Centerville, Tennessee
In Centerville, Hickman County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Centerville, the median home price is $104,900. Local tax authorities apply the relevant tax rate to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, leading to variations in tax bills. For instance, the 25th percentile of tax bills is around $227, reflecting lower-valued properties or those with exemptions. On the higher end, the 75th percentile reaches $1,212, and the 90th percentile can be as high as $1,750, indicating properties with higher market values or fewer exemptions. The highest median tax bill in the area is $682, consistent across the 37033 zip code. These property taxes significantly impact homeowners by contributing to local services and infrastructure, thereby influencing the overall cost of homeownership in Centerville.
Average Centerville Tax Bill
$682
Average Hickman County Tax Bill
$379
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Centerville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37033 | $97 | $227 | $682 | $1,212 | $1,750 |
Source: Ownwell