Normandy, Tennessee Property Taxes
The median property tax rate in Normandy, TN is 0.58%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Normandy at $99,950, the typical annual property tax bill is $703, well below the national median of $2,690. Property taxes in Normandy 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 Normandy'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 Normandy or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Normandy, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$580
Ownwell’s Normandy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Normandy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Normandy 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 Normandy, Tennessee
Property taxes in Normandy, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Normandy is 0.58%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Normandy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Normandy 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 Normandy's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37360 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Normandy provides valuable insights into the varying tax landscape across Coffee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Normandy Tax Rate
0.58%
Average Coffee County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Normandy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37360 | 0.58% | 0.58% | 0.58% | 0.58% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Normandy, Tennessee
In Normandy, 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 Coffee 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 Normandy, 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. The median home price in the area is $99,950, with tax bills varying significantly. For example, the 25th percentile tax bill is $265, while the 75th percentile tax bill is $1,291. The highest median tax bill in the area is $703, found in the 37360 zip code. By understanding 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 Normandy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Normandy Assessed Value
$99,950
Average Coffee County Assessed Value
$105,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Normandy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37360 | $19,270 | $42,525 | $99,950 | $214,050 | $352,640 |
Source: Ownwell
Property Tax Bills Across Normandy, Tennessee
In Normandy, located in Coffee County, TN, property tax bills are calculated based on the assessed value of a home. The median home price in Normandy stands at $99,950. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the median tax bill in the area is $703, which aligns with the tax rate applied to the median home price. Factors that influence the tax bill include the property's assessed value, which is a percentage of its market value, and the local tax rate set by the county. Homeowners in Normandy may see a range of tax bills, with the 25th percentile at $265 and the 75th percentile at $1,291. For those in the 90th percentile, the tax bill can reach up to $2,303. Compared to the national median property tax rate of 0.99%, Normandy's tax rates and bills reflect the local economic conditions and government funding needs, impacting how much homeowners are required to pay annually.
Average Normandy Tax Bill
$703
Average Coffee County Tax Bill
$805
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Normandy, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37360 | $136 | $265 | $703 | $1,291 | $2,303 |
Source: Ownwell