Dixon Springs, Tennessee Property Taxes
The median property tax rate in Dixon Springs, TN is 0.60%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dixon Springs at $41,600, the typical annual property tax bill is $250, significantly below the national median of $2,690. Property taxes in Dixon Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Dixon Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dixon Springs 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
Dixon Springs, 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 Dixon Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dixon Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dixon Springs 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 Dixon Springs, Tennessee
Property taxes in Dixon Springs, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dixon Springs is 0.60%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Dixon Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dixon Springs 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 Dixon Springs' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37057 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Dixon Springs provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dixon Springs Tax Rate
0.60%
Average Macon County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dixon Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37057 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Dixon Springs, Tennessee
In Dixon Springs, 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. Assessment notices in Dixon Springs 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 Dixon Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 37057, with a median tax bill of $250.
Average Dixon Springs Assessed Value
$41,600
Average Macon County Assessed Value
$73,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dixon Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37057 | $8,740 | $16,200 | $41,600 | $95,400 | $129,680 |
Source: Ownwell
Property Tax Bills Across Dixon Springs, Tennessee
In Dixon Springs, located in Macon County, TN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. For residential properties in Tennessee, this ratio is typically 25% of the market value. For example, with a median home price of $41,600 in Dixon Springs, the assessed value would be $10,400. This assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Dixon Springs can expect a wide range of property tax bills. The 25th percentile tax bill is around $83, while the 75th percentile reaches approximately $572, and the 90th percentile can be as high as $796. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, homeowners in Dixon Springs may find their tax bills relatively manageable given the local economic conditions.
Average Dixon Springs Tax Bill
$250
Average Macon County Tax Bill
$483
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dixon Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37057 | $52 | $83 | $250 | $572 | $796 |
Source: Ownwell