Pegram, Tennessee Property Taxes
The median property tax rate in Pegram, TN is 0.95%, slightly lower than the national median of 0.99% but significantly higher than the Tennessee state median of 0.64%. With the median home value in Pegram, the typical annual property tax bill reaches $2,484, just under the national median of $2,690. Property taxes in Pegram 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 Pegram'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 Pegram or another part of Davidson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pegram, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,492
Ownwell’s Pegram Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pegram with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pegram 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 Pegram, Tennessee
Property taxes in Pegram, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pegram is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Pegram set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pegram 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 Pegram's effective property tax rate to other areas in Davidson County and the national median. For comparison, the 37143 zip code has the highest median property tax rate of 0.95%, while the 37143 zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Pegram provides valuable insights into the varying tax landscape across Davidson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pegram Tax Rate
0.95%
Average Davidson County Tax Rate
0.95%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pegram, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37143 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Pegram, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pegram, 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 Davidson 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 Pegram, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pegram is $262,350, with median tax bills ranging from $1,685 at the 25th percentile to $4,233 at the 90th percentile. The highest and lowest median tax bill in the area is $2,484, found in the 37143 zip code.
Average Pegram Assessed Value
$262,350
Average Davidson County Assessed Value
$291,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pegram, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37143 | $49,728 | $177,950 | $262,350 | $360,775 | $446,970 |
Source: Ownwell
Property Tax Bills Across Pegram, Tennessee
In Pegram, Davidson County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, if the median home price in Pegram is $262,350, the assessed value would be a fraction of this amount, depending on the local assessment ratio. The local tax rate is applied to the assessed value to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. Homeowners in Pegram see a range of property tax bills, with the 25th percentile at $1,685 and the 75th percentile at $3,417. At the 90th percentile, tax bills can go up to $4,233. Compared to the national median property tax rate of 0.99%, Pegram's tax bills reflect the local real estate market and assessment practices, impacting how much homeowners owe annually.
Average Pegram Tax Bill
$2,484
Average Davidson County Tax Bill
$2,764
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Pegram, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37143 | $471 | $1,685 | $2,484 | $3,417 | $4,233 |
Source: Ownwell