Duck River, Tennessee Property Taxes
The median property tax rate in Duck River, 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 Duck River, the typical annual property tax bill reaches $552, significantly below the national median of $2,690. Property taxes in Duck River 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 Duck River'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 Duck River or another part of Hickman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Duck River, 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 Duck River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Duck River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duck River 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 Duck River, Tennessee
Property taxes in Duck River, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duck River is 0.58%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Duck River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duck River 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 Duck River's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38454 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these areas compare with Duck River 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 Duck River 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 Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | 0.38% | 0.51% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Duck River, Tennessee
In Duck River, 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 Duck River, 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 Duck River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Duck River are both $552.00, found in zip code 38454.
Average Duck River Assessed Value
$105,200
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 Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | $16,850 | $36,300 | $105,200 | $204,725 | $382,750 |
Source: Ownwell
Property Tax Bills Across Duck River, Tennessee
In Duck River, Hickman County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $105,200, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $210, while those at the 75th percentile could see bills closer to $1,017. In the upper echelons, the 90th percentile tax bill reaches up to $1,695. Several factors influence these tax bills, including the home's location, its condition, and any applicable exemptions. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these elements is essential for financial planning, as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Duck River's rates offer a unique perspective on local property tax dynamics.
Average Duck River Tax Bill
$552
Average Hickman County Tax Bill
$379
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | $101 | $210 | $552 | $1,017 | $1,695 |
Source: Ownwell