Whitwell, Tennessee Property Taxes
The median property tax rate in Whitwell, TN is 0.76%, 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 $99,700 in Whitwell, the typical annual property tax bill is $770, significantly below the national median of $2,690. Property taxes in Whitwell are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Whitwell'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 Whitwell or another part of Sequatchie County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitwell, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$758
Ownwell’s Whitwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitwell 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 Whitwell, Tennessee
Property taxes in Whitwell, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitwell is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Whitwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitwell 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 Whitwell's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37397 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Whitwell 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 Whitwell Tax Rate
0.76%
Average Sequatchie County Tax Rate
0.80%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitwell, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37397 | 0.67% | 0.72% | 0.76% | 0.82% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Whitwell, Tennessee
In Whitwell, 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 Whitwell, 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 Whitwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Whitwell, the median home price is $99,700, with tax bills ranging significantly. The 25th percentile tax bill is $463, while the 75th percentile reaches $1,167. The highest median tax bill in the area is $770, found in zip code 37397. Understanding these figures can help homeowners anticipate their tax obligations and seek ways to minimize their tax burden.
Average Whitwell Assessed Value
$99,700
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 Whitwell, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37397 | $28,220 | $57,450 | $99,700 | $154,750 | $229,740 |
Source: Ownwell
Property Tax Bills Across Whitwell, Tennessee
In Whitwell, located in Sequatchie County, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Whitwell is $99,700. The assessed value is then multiplied by the local property tax rate to determine the tax bill. The property tax rate in this region is lower than the national median of 0.99%, making it relatively affordable for homeowners. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the 25th percentile tax bill in Whitwell is $463, while the 75th percentile tax bill is $1,167, demonstrating a range in tax obligations based on property characteristics. The highest median tax bill recorded in the area is $770, which is consistent across the zip code 37397. These tax bills significantly impact homeowners, as they contribute to local services and infrastructure. However, the relatively low property tax rates in Whitwell provide some financial relief compared to higher-tax areas.
Average Whitwell Tax Bill
$770
Average Sequatchie County Tax Bill
$939
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitwell, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37397 | $219 | $463 | $770 | $1,167 | $1,781 |
Source: Ownwell