Halls, Tennessee Property Taxes
The median property tax rate in Halls, TN is 0.64%, aligning with the Tennessee state median but significantly lower than the national median of 0.99%. With a median home value of $77,850 in Halls, the typical annual property tax bill amounts to $620, which is well below the national median of $2,690. Property taxes in Halls are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Halls' property tax system and exploring available exemptions, homeowners and real estate investors can identify opportunities for significant annual savings. Whether residing in Halls or investing in the area, gaining insights into the local property tax regulations can prove beneficial.
Last Updated June 14, 2024
Halls, 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 Halls Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Halls using just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Halls to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Halls, Tennessee
Property taxes in Halls, Tennessee, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Halls is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Halls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halls 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 Halls' effective property tax rate to other areas and the national median. For comparison, the 38040 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Halls provides valuable insights into the varying tax landscape across Lauderdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halls Tax Rate
0.64%
Average Lauderdale County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | 0.63% | 0.63% | 0.64% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Halls, Tennessee
In Halls, 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 Lauderdale 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 Halls, 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 Halls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $620.00 in zip code 38040, which is also the lowest median tax bill.
Average Halls Assessed Value
$77,850
Average Lauderdale County Assessed Value
$73,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | $29,700 | $48,275 | $77,850 | $120,375 | $192,610 |
Source: Ownwell
Property Tax Bills Across Halls, Tennessee
In Halls, property tax bills are calculated by taking into account the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For instance, with a median home price of $77,850, the assessed value forms the basis for calculating the tax bill. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the assessed value. In Halls, the property tax bill ranges significantly. Homeowners at the 25th percentile pay around $392, while those at the 75th percentile pay approximately $959. At the 90th percentile, the tax bill can go up to $1,448. These values highlight the variability in property tax bills within the area, which can impact homeowners' financial planning and budgeting. Compared to the national median property tax rate of 0.99%, Halls offers a diverse range of tax bills, reflecting different property values and local tax policies.
Average Halls Tax Bill
$620
Average Lauderdale County Tax Bill
$476
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | $230 | $392 | $620 | $959 | $1,448 |
Source: Ownwell