Dayton, Tennessee Property Taxes
The median property tax rate in Dayton, TN is 0.52%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dayton at $130,400, the typical annual property tax bill amounts to $645, well below the national median of $2,690. Property taxes in Dayton are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a clear understanding of Dayton's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in considerable annual savings. Whether residing in the heart of Dayton or elsewhere in the city, familiarizing oneself with the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dayton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$678
Ownwell’s Dayton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dayton using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Dayton to provide an accurate estimate of your property tax bill. This tool offers valuable insights into your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Dayton, Tennessee
Property taxes in Dayton, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37321 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Bledsoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
0.52%
Average Bledsoe County Tax Rate
0.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | 0.51% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Tennessee
In Dayton, 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 Bledsoe 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. 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 Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Dayton are both $645, found in zip code 37321.
Average Dayton Assessed Value
$130,400
Average Bledsoe County Assessed Value
$105,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | $45,900 | $68,500 | $130,400 | $183,400 | $252,900 |
Source: Ownwell
Property Tax Bills Across Dayton, Tennessee
In Dayton, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $130,400, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $354, while at the 75th percentile, it reaches approximately $946. The highest tax bills, at the 90th percentile, can go up to $1,304. Several factors influence these amounts, such as changes in property values and local tax rates. For homeowners, this means that fluctuations in the housing market and adjustments to tax rates can significantly impact their annual tax obligations. Compared to the national median property tax rate of 0.99%, Dayton homeowners experience relatively moderate property tax bills. This system ensures that property taxes are proportionate to the value of the property, thereby distributing the tax burden more equitably among residents.
Average Dayton Tax Bill
$645
Average Bledsoe County Tax Bill
$577
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | $237 | $354 | $645 | $946 | $1,304 |
Source: Ownwell