Saint Joseph, Tennessee Property Taxes
The median property tax rate in Saint Joseph, TN is 0.62%, noticeably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Saint Joseph at $121,700, the typical annual property tax bill is $748, significantly less than the national median of $2,690. Property taxes in Saint Joseph are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Joseph'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 Saint Joseph 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
Saint Joseph, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$755
Ownwell’s Saint Joseph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Joseph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Joseph 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 Saint Joseph, Tennessee
Property taxes in Saint Joseph, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Joseph is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Joseph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Joseph 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 Saint Joseph's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38481 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Saint Joseph provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Joseph Tax Rate
0.62%
Average Lawrence County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Joseph, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38481 | 0.50% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Saint Joseph, Tennessee
In Saint Joseph, 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 Lawrence 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 Saint Joseph, 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 Saint Joseph is $121,700, with tax bills ranging from $444 at the 25th percentile to $1,623 at the 90th percentile. The highest and lowest median tax bills are both $748, found in the 38481 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Saint Joseph Assessed Value
$121,700
Average Lawrence County Assessed Value
$151,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Joseph, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38481 | $27,480 | $72,500 | $121,700 | $190,800 | $273,160 |
Source: Ownwell
Property Tax Bills Across Saint Joseph, Tennessee
In Saint Joseph, Lawrence County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region see a range of property tax bills, influenced by various factors such as the home's assessed value, local tax rates, and applicable exemptions. For example, the median home price in Saint Joseph is $121,700. Property tax bills in the area can vary significantly, with the 25th percentile at $444 and the 75th percentile reaching $1,144. At the higher end, the 90th percentile tax bill is $1,623. Comparatively, the highest and lowest median tax bills in the area are both $748, specifically in the zip code 38481. These property taxes directly impact homeowners, affecting their annual expenses and potentially influencing their decisions on homeownership and investments. Understanding these factors helps homeowners plan better and manage their financial obligations effectively.
Average Saint Joseph Tax Bill
$748
Average Lawrence County Tax Bill
$875
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Joseph, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38481 | $163 | $444 | $748 | $1,144 | $1,623 |
Source: Ownwell