Yuma, Tennessee Property Taxes
The median property tax rate in Yuma, TN is 0.69%, slightly higher than the Tennessee state median of 0.64% but below the national median of 0.99%. With the median home value in Yuma at $80,100, the typical annual property tax bill is $555, which is significantly lower than the national median of $2,690. Property taxes in Yuma are calculated based on the tax assessed value, which usually falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Yuma'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 Yuma or elsewhere in Carroll County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yuma, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$553
Ownwell’s Yuma Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Yuma. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Yuma to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, making financial planning easier. For those interested in more detailed insights, additional localized information is available by scrolling down. Your property's assessed value, determined by Carroll County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Yuma, Tennessee
Property taxes in Yuma, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yuma is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Yuma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yuma 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 Yuma's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38390 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Yuma provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yuma Tax Rate
0.69%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Yuma, Tennessee
In Yuma, 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 Carroll 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 Yuma, 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. For instance, the highest and lowest median tax bills in Yuma both stand at $555, specifically in the 38390 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yuma Assessed Value
$80,100
Average Carroll County Assessed Value
$76,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | $22,220 | $39,800 | $80,100 | $150,400 | $223,300 |
Source: Ownwell
Property Tax Bills Across Yuma, Tennessee
Property tax bills in Yuma, Tennessee, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. In Yuma, the median home price stands at $80,100. Homeowners in Yuma can expect property tax bills to vary significantly, with the 25th percentile at $275 and the 75th percentile at $1,053. For those at the 90th percentile, the tax bill can reach up to $1,545. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Yuma's rates can be quite varied, reflecting the local economic and property conditions. High property taxes can impact homeowners by increasing their annual expenses, while lower taxes can make homeownership more affordable. Understanding these factors can help homeowners better anticipate their financial obligations.
Average Yuma Tax Bill
$555
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | $153 | $275 | $555 | $1,053 | $1,545 |
Source: Ownwell