Livingston, Tennessee Property Taxes
The median property tax rate in Livingston, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $96,400 in Livingston, the typical annual property tax bill amounts to $621, well below the national median of $2,690. Property taxes in Livingston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Livingston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Livingston or another part of Overton County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Livingston, 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 Livingston Property Tax Bill Calculator empowers homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Livingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livingston 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 Livingston, Tennessee
Property taxes in Livingston, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Livingston is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Livingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livingston 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 Livingston's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38570 has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these figures compare with Livingston provides valuable insights into the varying tax landscape across Overton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Livingston Tax Rate
0.49%
Average Overton County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livingston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38570 | 0.49% | 0.49% | 0.49% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Livingston, Tennessee
In Livingston, 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 Overton 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. Assessment notices in Livingston 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. In Livingston, the median home price is $96,400, with tax bills ranging from $366 at the 25th percentile to $1,498 at the 90th percentile. The zip code 38570 has the highest and lowest median tax bill at $621. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Livingston Assessed Value
$96,400
Average Overton County Assessed Value
$101,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Livingston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38570 | $29,900 | $57,700 | $96,400 | $152,600 | $229,040 |
Source: Ownwell
Property Tax Bills Across Livingston, Tennessee
In Livingston, located in Overton County, TN, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. This rate is determined by local government and can vary annually. For homeowners, the median home price in Livingston is $96,400. The property tax bill can range significantly depending on the value of the home and the specific tax rate applied. For example, the 25th percentile tax bill is $366, while the 75th percentile tax bill is $969. At the higher end, the 90th percentile tax bill reaches $1498. Comparing these figures to the national median property tax rate of 0.99%, Livingston's tax rates can be considered relatively moderate. Understanding these factors is crucial for homeowners as property taxes directly impact annual housing costs. Properly managing and appealing property tax assessments can potentially lead to significant savings.
Average Livingston Tax Bill
$621
Average Overton County Tax Bill
$570
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Livingston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38570 | $170 | $366 | $621 | $969 | $1,498 |
Source: Ownwell