Jacks Creek, Tennessee Property Taxes
The median property tax rate in Jacks Creek, TN is 0.62%, slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Jacks Creek at $103,700, the typical annual property tax bill is $645, which is significantly below the national median of $2,690. Property taxes in Jacks Creek 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 Jacks Creek'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 Jacks Creek 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
Jacks Creek, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$643
Ownwell’s Jacks Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jacks Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jacks Creek 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 Jacks Creek, Tennessee
Property taxes in Jacks Creek, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacks Creek is 0.62%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Jacks Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacks Creek 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 Jacks Creek's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38347 zip code has both the highest and lowest median property tax rate at 0.62%. Understanding how these cities compare with Jacks Creek 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 Jacks Creek 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 Jacks Creek, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38347 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Jacks Creek, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jacks Creek, Tennessee. 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 Jacks Creek, 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, in the zip code 38347, the median tax bill is $645. 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 Jacks Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jacks Creek Assessed Value
$103,700
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 Jacks Creek, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38347 | $32,200 | $61,100 | $103,700 | $146,100 | $202,100 |
Source: Ownwell
Property Tax Bills Across Jacks Creek, Tennessee
In JACKS CREEK, Chester 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 example, with a median home price of $103,700, the tax bill can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $360, while those at the 75th percentile may see bills closer to $887. At the 90th percentile, tax bills can reach up to $1,225. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For residents, this means that property taxes can have a substantial impact on annual housing costs. Comparing this to the national median property tax rate of 0.99%, homeowners in JACKS CREEK may find their tax bills to be relatively moderate, but still an important consideration in their overall financial planning.
Average Jacks Creek Tax Bill
$645
Average Chester County Tax Bill
$763
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Jacks Creek, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38347 | $200 | $360 | $645 | $887 | $1,225 |
Source: Ownwell