Primm Springs, Tennessee Property Taxes
The median property tax rate in Primm Springs, TN is 0.47%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Primm Springs at $236,100, the typical annual property tax bill reaches $1,120, which is significantly below the national median of $2,690. Property taxes in Primm Springs are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Primm Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Primm Springs or another part of Williamson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Primm Springs, 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 Primm Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Primm Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Primm Springs 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 Primm Springs, Tennessee
Property taxes in Primm Springs, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Primm Springs is 0.47%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Primm Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Primm Springs 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 Primm Springs' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38476 zip code has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with Primm Springs provides valuable insights into the varying tax landscape across Williamson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Primm Springs Tax Rate
0.47%
Average Williamson County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Primm Springs, Tennessee
In Primm Springs, 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 local assessment authority 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 Primm Springs, 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 Primm Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Primm Springs, the zip code with the highest median tax bill is 38476, with a value of $1120, while the zip code with the lowest median tax bill is also 38476, at $1120.
Property Tax Assessment Values Across Primm Springs, Tennessee
Source: Ownwell
$161,000
$549,800
$938,600
Average Primm Springs Assessed Value
$236,100
Average Williamson County Assessed Value
$492,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $121,160 | $149,900 | $236,100 | $376,800 | $547,700 |
Source: Ownwell
Property Tax Bills Across Primm Springs, Tennessee
In Primm Springs, Williamson County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. For instance, with a median home price of $236,100, the assessed value forms the basis for calculating the tax bill. Tax rates are applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Primm Springs can expect tax bills that vary widely; the 25th percentile tax bill is $709, while the 75th percentile tax bill reaches $1,801. For those at the 90th percentile, the tax bill can be as high as $2,549. Compared to the national median property tax rate of 0.99%, Primm Springs offers a relatively moderate tax environment. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Primm Springs Tax Bill
$1,120
Average Williamson County Tax Bill
$2,616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $576 | $709 | $1,120 | $1,801 | $2,549 |
Source: Ownwell