Lobelville, Tennessee Property Taxes
The median property tax rate in Lobelville, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $145,450 in Lobelville, the typical annual property tax bill amounts to $600, well below the national median of $2,690. Property taxes in Lobelville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lobelville'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 Lobelville 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
Lobelville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$684
Ownwell’s Lobelville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lobelville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lobelville 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 Lobelville, Tennessee
Property taxes in Lobelville, Tennessee, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Lobelville is 0.47%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Lobelville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lobelville 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 Lobelville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37097 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Lobelville 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 Lobelville Tax Rate
0.47%
Average Hickman County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | 0.31% | 0.37% | 0.47% | 0.55% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Lobelville, Tennessee
In Lobelville, 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 local 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 Lobelville, 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 Lobelville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37097 has the highest median tax bill at $600, which is also the lowest median tax bill in the area.
Average Lobelville Assessed Value
$145,450
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 Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $49,680 | $114,075 | $145,450 | $189,775 | $574,780 |
Source: Ownwell
Property Tax Bills Across Lobelville, Tennessee
In Lobelville, located in Hickman County, TN, property tax bills are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by local assessors who evaluate the market value of the property and then apply an assessment ratio to this value. This ratio is set by state law and can vary depending on the property type. Once the assessed value is established, the local tax rate, also known as the millage rate, is applied. This rate is determined by local government budgets and funding requirements for public services like schools, infrastructure, and emergency services. For homeowners in Lobelville, the tax bill can significantly impact annual expenses. The median home price in this area is $145,450, with tax bills ranging from $442 at the 25th percentile to $2,759 at the 90th percentile. Compared to the national median property tax rate of 0.99%, homeowners in Lobelville may find their property tax burden relatively manageable, but it still represents a crucial component of homeownership costs.
Average Lobelville Tax Bill
$600
Average Hickman County Tax Bill
$379
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $248 | $442 | $600 | $1,087 | $2,759 |
Source: Ownwell