Soddy Daisy, Tennessee Property Taxes
The median property tax rate in Soddy Daisy, TN is 0.74%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Soddy Daisy at $126,400, the typical annual property tax bill reaches $951, falling below the national median of $2,690. Property taxes in Soddy Daisy are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Soddy Daisy'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 Soddy Daisy 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
Soddy Daisy, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$935
Ownwell’s Soddy Daisy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Soddy Daisy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Soddy Daisy 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 Soddy Daisy, Tennessee
Property taxes in Soddy Daisy, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Soddy Daisy is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Soddy Daisy set these rates annually, and they can vary across different neighborhoods. Each year, Soddy Daisy 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 Soddy Daisy's effective property tax rate to other areas and the national median. For comparison, the 37379 zip code has the highest median property tax rate of 0.74%, while the lowest median tax rate is also 0.74% in the same zip code. Understanding how these areas compare with Soddy Daisy 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 Soddy Daisy Tax Rate
0.74%
Average Sequatchie County Tax Rate
0.80%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Soddy Daisy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37379 | 0.66% | 0.70% | 0.74% | 0.77% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Soddy Daisy, Tennessee
In Soddy Daisy, 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 Soddy Daisy, 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 Soddy Daisy 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 is 37379, with a median tax bill of $951.
Average Soddy Daisy Assessed Value
$126,400
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 Soddy Daisy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37379 | $57,540 | $91,000 | $126,400 | $187,800 | $248,640 |
Source: Ownwell
Property Tax Bills Across Soddy Daisy, Tennessee
In Soddy Daisy, Sequatchie County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in this region can expect their tax bills to vary widely, reflecting the diversity in property values and assessed rates. For instance, the median home price in Soddy Daisy is $126,400. Property tax bills in this area range from the 25th percentile at $673 to the 90th percentile at $1,693. The highest median tax bill recorded in the zip code 37379 is $951, which aligns with the lowest median tax bill in the same zip code, indicating a consistent tax rate across properties. These tax bills impact homeowners by influencing their annual expenses and potentially affecting the affordability of their homes. Compared to the national median property tax rate of 0.99%, Soddy Daisy's tax rates may present a relatively moderate burden, providing a balanced environment for property owners.
Average Soddy Daisy Tax Bill
$951
Average Sequatchie County Tax Bill
$939
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Soddy Daisy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37379 | $386 | $673 | $951 | $1,322 | $1,693 |
Source: Ownwell