Tigrett, Tennessee Property Taxes
The median property tax rate in Tigrett, TN is 0.59%, which is notably lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $38,300 in Tigrett, the typical annual property tax bill is $180, significantly below the national median of $2,690. Property taxes in Tigrett are based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tigrett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Tigrett or another part of Dyer County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tigrett, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$226
Ownwell’s Tigrett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tigrett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tigrett 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 Tigrett, Tennessee
Property taxes in Tigrett, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tigrett is 0.59%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Tigrett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tigrett 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 Tigrett's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38070 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Tigrett provides valuable insights into the varying tax landscape across Dyer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tigrett Tax Rate
0.59%
Average Dyer County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tigrett, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38070 | 0.26% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Tigrett, Tennessee
In Tigrett, 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 Dyer 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 Tigrett, 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 Tigrett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 38070 has the highest and lowest median tax bill, both at $180.
Average Tigrett Assessed Value
$38,300
Average Dyer County Assessed Value
$83,700
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tigrett, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38070 | $20,980 | $24,750 | $38,300 | $69,250 | $128,860 |
Source: Ownwell
Property Tax Bills Across Tigrett, Tennessee
In Tigrett, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners, this means that the amount they owe in property taxes is directly tied to the value of their home. The median home price in Tigrett is $38,300, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as property location and any applicable exemptions also play a role in the final tax amount. In Dyer County, where Tigrett is located, the tax bills can vary significantly. For instance, the 25th percentile tax bill is $134, while the 75th percentile tax bill is $380, and the 90th percentile tax bill reaches $708. These figures illustrate the range of property tax obligations homeowners might face, depending on their property's assessed value and other contributing factors. Compared to the national median property tax rate of 0.99%, Tigrett's property tax bills are relatively modest, making it a more affordable option for homeowners.
Average Tigrett Tax Bill
$180
Average Dyer County Tax Bill
$585
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Tigrett, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38070 | $19 | $134 | $180 | $380 | $708 |
Source: Ownwell