Graysville, Tennessee Property Taxes
The median property tax rate in Graysville, TN is 0.75%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $133,000 in Graysville, the typical annual property tax bill is approximately $1,017, well below the national median of $2,690. Property taxes in Graysville are determined based on the assessed value, which often falls below market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Graysville’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 Graysville or another part of Sequatchie County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graysville, 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 Graysville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Graysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graysville to project your property tax bill. This valuable tool provides insight into potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Graysville, Tennessee
Property taxes in Graysville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graysville is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Graysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graysville 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 Graysville's effective property tax rate to other regions and the national median. For comparison, the zip code 37338 in Sequatchie County has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Graysville provides valuable insights into the varying tax landscape across Sequatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graysville Tax Rate
0.75%
Average Sequatchie County Tax Rate
0.80%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37338 | 0.67% | 0.71% | 0.75% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Graysville, Tennessee
In Graysville, 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 Sequatchie 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 Graysville, 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 Graysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37338 has both the highest and lowest median tax bill at $1,017.
Average Graysville Assessed Value
$133,000
Average Sequatchie County Assessed Value
$109,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37338 | $63,830 | $92,300 | $133,000 | $212,025 | $300,770 |
Source: Ownwell
Property Tax Bills Across Graysville, Tennessee
In Graysville, TN, property tax bills are calculated based on the assessed value of the property, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Graysville, the median home price stands at $133,000. The tax bill can vary significantly, with those in the 25th percentile paying around $724 annually, while those in the 75th percentile face a bill of approximately $1,570. At the 90th percentile, the tax bill can reach up to $2,248. The highest and lowest median tax bills in the area both stand at $1,017, specifically in the 37338 zip code. Compared to the national median property tax rate of 0.99%, Graysville's tax rates can offer some relief or pose a substantial burden depending on the assessed value of the property. These factors collectively influence how much homeowners need to budget annually for property taxes.
Average Graysville Tax Bill
$1,017
Average Sequatchie County Tax Bill
$939
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Graysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37338 | $465 | $724 | $1,017 | $1,570 | $2,248 |
Source: Ownwell