Dresden, Tennessee Property Taxes
The median property tax rate in Dresden, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dresden, the typical annual property tax bill reaches $470, which is well below the national median of $2,690. Property taxes in Dresden are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Dresden'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 Dresden or another part of Weakley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dresden, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$346
Ownwell’s Dresden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dresden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dresden 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 Dresden, Tennessee
Property taxes in Dresden, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dresden is 0.49%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Dresden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dresden 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 Dresden's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38225 has both the highest and lowest median property tax rate in the county at 0.49%. Understanding how these cities compare with Dresden provides valuable insights into the varying tax landscape across Weakley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dresden Tax Rate
0.49%
Average Weakley County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dresden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38225 | 0.49% | 0.49% | 0.49% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Dresden, Tennessee
In Dresden, 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 Weakley 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 Dresden, 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. The median home price in Dresden is $70,550, with tax bills ranging from $286 at the 25th percentile to $1,107 at the 90th percentile. The zip code 38225 has both the highest and lowest median tax bill, standing at $470. By understanding 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 Dresden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dresden Assessed Value
$70,550
Average Weakley County Assessed Value
$76,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dresden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38225 | $26,610 | $44,200 | $70,550 | $111,000 | $172,890 |
Source: Ownwell
Property Tax Bills Across Dresden, Tennessee
In Dresden, located in Weakley 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 determined by the local tax assessor. Homeowners in Dresden can expect their property tax bills to be influenced by factors such as the property's location, size, and condition. The median home price in Dresden stands at $70,550, which serves as a baseline for calculating property taxes. The property tax rate in Dresden is compared to the national median property tax rate of 0.99%. In Dresden, the tax bills vary significantly, with the 25th percentile tax bill at $286, the 75th percentile at $733, and the 90th percentile reaching $1,107. This range shows how property taxes can differ based on various property characteristics. The highest and lowest median tax bills in the area are both $470, indicative of a relatively stable tax environment. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Dresden Tax Bill
$470
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dresden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38225 | $165 | $286 | $470 | $733 | $1,107 |
Source: Ownwell