Huntland, Tennessee Property Taxes
The median property tax rate in Huntland, TN is 0.53%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Huntland at $196,000, the typical annual property tax bill amounts to $1,030, well below the national median of $2,690. Property taxes in Huntland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Huntland'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 Huntland or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huntland, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,039
Ownwell’s HUNTLAND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HUNTLAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUNTLAND 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 Huntland, Tennessee
Property taxes in Huntland, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Huntland is 0.53%, which is considerably lower than the U.S. national median of 0.99%. Local government entities within Huntland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntland 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 Huntland's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37345 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Huntland provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntland Tax Rate
0.53%
Average Lincoln County Tax Rate
0.53%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Huntland, Tennessee
In Huntland, 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 Lincoln 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 Huntland, 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 Huntland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Huntland are both $1,030, found in the 37345 zip code.
Average Huntland Assessed Value
$196,000
Average Lincoln County Assessed Value
$117,700
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | $196,000 | $196,000 | $196,000 | $196,000 | $196,000 |
Source: Ownwell
Property Tax Bills Across Huntland, Tennessee
Property tax bills in Huntland, located in Lincoln County, TN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Huntland, the median home price is $196,000, and the tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in Huntland typically see a tax bill around $1,030, regardless of whether they fall into the 25th, 75th, or 90th percentile, indicating a relatively consistent tax rate across different property values. This amount is significantly lower than the national median property tax rate of 0.99%, making Huntland an attractive location for homeowners seeking lower property tax burdens. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Lower property tax rates can make homeownership more affordable and appealing, contributing to the overall desirability of living in Huntland.
Average Huntland Tax Bill
$1,030
Average Lincoln County Tax Bill
$686
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | $1,030 | $1,030 | $1,030 | $1,030 | $1,030 |
Source: Ownwell