Henderson, Tennessee Property Taxes
The median property tax rate in Henderson, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Henderson, the typical annual property tax bill reaches $821, significantly below the national median of $2,690. Property taxes in Henderson 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 Henderson'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 Henderson or another part of Chester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henderson, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$817
Ownwell’s Henderson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Henderson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henderson to provide an estimate of your property tax bill. This valuable tool helps you gain clarity on potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by Chester County for tax calculations, includes any applicable exemptions, ensuring an accurate estimate.
Property Tax Rates Across Henderson, Tennessee
Property taxes in Henderson, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 0.62%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henderson 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 Henderson's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38340 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these figures compare with Henderson provides valuable insights into the varying tax landscape across Chester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
0.62%
Average Chester County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38340 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Tennessee
In Henderson, 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 Chester 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 Henderson, 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. For instance, the median home price in Henderson is $131,800, with tax bills ranging from $489 at the 25th percentile to $1,769 at the 90th percentile. The highest and lowest median tax bills are both found in the 38340 zip code, at $821. 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 Henderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$131,800
Average Chester County Assessed Value
$125,450
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henderson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38340 | $43,900 | $77,900 | $131,800 | $203,200 | $295,400 |
Source: Ownwell
Property Tax Bills Across Henderson, Tennessee
In Henderson, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. Homeowners in Chester County can expect their tax bills to vary significantly depending on the assessed value of their property. For instance, the median home price in Henderson is $131,800. Property tax bills here range widely, with the 25th percentile at $489 and the 75th percentile at $1242. At the 90th percentile, tax bills can reach as high as $1769. Factors like the property's location, improvements, and market conditions influence the assessed value. These tax bills can impact homeowners' overall financial planning, as higher taxes may affect affordability and the long-term investment value of their property. Compared to the national median property tax rate of 0.99%, Henderson's rate provides a unique perspective on how local tax policies can influence the cost of homeownership. Understanding these factors is crucial for homeowners aiming to manage their expenses effectively.
Average Henderson Tax Bill
$821
Average Chester County Tax Bill
$763
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38340 | $272 | $489 | $821 | $1,242 | $1,769 |
Source: Ownwell