Bath Springs, Tennessee Property Taxes
The median property tax rate in Bath Springs, TN is 0.65%, slightly above the state median of 0.64% but below the national median of 0.99%. With a median home value of $123,100 in Bath Springs, the typical annual property tax bill is approximately $800, which is significantly lower than the national median of $2,690. Property taxes in Bath Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bath Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bath Springs or another part of Decatur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bath Springs, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Bath Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bath Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bath Springs 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 Bath Springs, Tennessee
Property taxes in Bath Springs, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bath Springs is 0.65%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Bath Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bath Springs 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 Bath Springs' effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38311 has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Bath Springs provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bath Springs Tax Rate
0.65%
Average Decatur County Tax Rate
0.65%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bath Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38311 | 0.64% | 0.64% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Bath Springs, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bath Springs, 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 local 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 Bath Springs, 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 Bath Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38311 in Bath Springs has both the highest and lowest median tax bill at $800. With the national median property tax rate at 0.99%, understanding these figures can help homeowners make informed decisions about their property taxes.
Average Bath Springs Assessed Value
$123,100
Average Decatur County Assessed Value
$75,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bath Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38311 | $34,700 | $63,100 | $123,100 | $235,500 | $348,000 |
Source: Ownwell
Property Tax Bills Across Bath Springs, Tennessee
In Bath Springs, located in Decatur County, TN, property tax bills are primarily determined by the assessed value of a home and the local tax rate. The median home price in Bath Springs is $123,100. Property taxes are calculated by multiplying the assessed value by the local tax rate. For example, if your home is assessed at $123,100 and the local tax rate is 0.99%, your tax bill would be approximately $1,218 annually. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Bath Springs can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is around $407, while the 75th percentile tax bill can reach up to $1,519. At the 90th percentile, tax bills can be as high as $2,245. These variations highlight the impact of property value assessments and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Bath Springs taxpayers experience a range of tax obligations depending on their property's assessed value.
Average Bath Springs Tax Bill
$800
Average Decatur County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bath Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38311 | $224 | $407 | $800 | $1,519 | $2,245 |
Source: Ownwell