Baxter, Tennessee Property Taxes
The median property tax rate in Baxter, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $145,850 in Baxter, the typical annual property tax bill amounts to $997, significantly below the national median of $2,690. Property taxes in Baxter are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Baxter'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 Baxter or another part of Putnam County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baxter, 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 Baxter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baxter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baxter 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 Baxter, Tennessee
Property taxes in Baxter, Tennessee, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Baxter is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Baxter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baxter 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 Baxter's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38544 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Baxter provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baxter Tax Rate
0.62%
Average Putnam County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baxter, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38544 | 0.62% | 0.62% | 0.62% | 0.62% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Baxter, Tennessee
In Baxter, 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 Putnam County Assessor 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 Baxter, 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. For instance, the median home price in Baxter is $145,850, with tax bills ranging from the 25th percentile at $620 to the 90th percentile at $1,955. The zip code 38544 has the highest and lowest median tax bill, both at $997. 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 Baxter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Baxter Assessed Value
$145,850
Average Putnam County Assessed Value
$168,050
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baxter, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38544 | $43,700 | $90,200 | $145,850 | $216,750 | $294,870 |
Source: Ownwell
Property Tax Bills Across Baxter, Tennessee
In Baxter, located in Putnam County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Baxter is $145,850. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including local tax rates and any applicable exemptions or deductions. For homeowners in Baxter, property tax bills can vary significantly. The tax bill at the 25th percentile is $620, while at the 75th percentile, it rises to $1,461. At the 90th percentile, homeowners can expect to pay around $1,955. The highest and lowest median tax bills both stand at $997 in the zip code 38544, indicating some consistency in tax assessments within the area. Compared to the national median property tax rate of 0.99%, Baxter's property taxes can be considered relatively moderate, making it an appealing location for homeowners seeking manageable property tax obligations.
Average Baxter Tax Bill
$997
Average Putnam County Tax Bill
$1,204
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Baxter, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38544 | $284 | $620 | $997 | $1,461 | $1,955 |
Source: Ownwell