Halls, Tennessee Property Taxes
The median property tax rate in Halls, TN is 0.56%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Halls, the typical annual property tax bill reaches $558, far below the national median of $2,690. Property taxes in Halls 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 Halls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Halls 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
Halls, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$560
Ownwell’s Halls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halls 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 Halls, Tennessee
Property taxes in Halls, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Halls is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Halls set these rates annually, and they can vary across different neighborhoods. Each year, Halls 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. For comparison, the zip code 38040 also has a median property tax rate of 0.56%, which aligns with Halls. Understanding how Halls compares with other areas in Crockett County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halls Tax Rate
0.56%
Average Crockett County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Halls, Tennessee
In Halls, 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 Crockett 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 Halls, 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 Halls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $558, found in the 38040 zip code.
Average Halls Assessed Value
$100,000
Average Crockett County Assessed Value
$110,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | $40,060 | $62,950 | $100,000 | $167,250 | $293,000 |
Source: Ownwell
Property Tax Bills Across Halls, Tennessee
Property tax bills in Halls, located in Crockett County, TN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which is determined by the county's property assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Halls, the median home price is $100,000. Homeowners can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $351, while the 75th percentile tax bill is $944. At the 90th percentile, the tax bill can reach as high as $1,631. These variations are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Halls offers relatively affordable property tax bills. This can make homeownership in Halls more attractive, as lower tax expenses contribute to the overall affordability of living in the area.
Average Halls Tax Bill
$558
Average Crockett County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Halls, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38040 | $226 | $351 | $558 | $944 | $1,631 |
Source: Ownwell