Walling, Tennessee Property Taxes
The median property tax rate in Walling, TN is 0.51%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $112,000 in Walling, the typical annual property tax bill is approximately $570, which is well below the national median of $2,690. Property taxes in Walling are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walling'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 Walling 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
Walling, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$571
Ownwell’s Walling Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walling to provide an estimate of 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 Walling, Tennessee
Property taxes in Walling, Tennessee, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Walling is 0.51%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Walling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walling 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 Walling's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38587 has both the highest and lowest median property tax rate of 0.51%. Understanding how these areas compare with Walling provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walling Tax Rate
0.51%
Average White County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walling, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38587 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Walling, Tennessee
In Walling, 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 White 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 Walling, 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 Walling is $112,000, with tax bills ranging from $346 at the 25th percentile to $1,322 at the 90th percentile. 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 Walling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Walling Assessed Value
$112,000
Average White County Assessed Value
$113,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walling, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38587 | $36,060 | $68,600 | $112,000 | $173,300 | $258,760 |
Source: Ownwell
Property Tax Bills Across Walling, Tennessee
In Walling, located in White County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For homeowners in Walling, the median home price is $112,000. Property tax rates in this area contribute to a median tax bill of $570.00, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners can expect their tax bills to vary, with the 25th percentile tax bill at $346 and the 75th percentile reaching $886. For those at the 90th percentile, tax bills can go as high as $1322. These tax bills are used to fund local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents in Walling.
Average Walling Tax Bill
$570
Average White County Tax Bill
$619
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Walling, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38587 | $180 | $346 | $570 | $886 | $1,322 |
Source: Ownwell