Stanton, Tennessee Property Taxes
The median property tax rate in Stanton, TN is 0.32%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Stanton at $68,000, the typical annual property tax bill is $220, far below the national median of $2,690. Property taxes in Stanton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stanton'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 Stanton 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
Stanton, 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 Stanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanton 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 Stanton, Tennessee
Property taxes in Stanton, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanton is 0.57%, significantly lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Stanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanton 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 Stanton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is 1.68%, while the lowest median tax rate is 0.37%. Understanding how these cities compare with Stanton provides valuable insights into the varying tax landscape across Haywood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanton Tax Rate
0.32%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Stanton, Tennessee
In Stanton, 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 Fayette 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 Stanton, 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 Stanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38069 in Stanton has the highest and lowest median tax bill at $220.
Average Stanton Assessed Value
$68,000
Average Fayette County Assessed Value
$164,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | $16,530 | $28,825 | $68,000 | $97,025 | $147,190 |
Source: Ownwell
Property Tax Bills Across Stanton, Tennessee
Property tax bills in Stanton, TN, are calculated based on the assessed value of a property and the local tax rate set by Fayette County. Typically, properties are assessed at a percentage of their market value, which is then multiplied by the tax rate to determine the annual tax bill. In Stanton, the median home price is $68,000. For homeowners, this means that property taxes can vary significantly. For example, the tax bill at the 25th percentile is $93, while at the 75th percentile, it rises to $313. At the 90th percentile, the tax bill can reach up to $476. These variations are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Stanton's property taxes can be relatively lower or higher depending on the specific property. This variation in property tax bills can impact homeowners' budgets, making it crucial to understand how these taxes are calculated and what factors contribute to the final amount.
Average Stanton Tax Bill
$220
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | $54 | $93 | $220 | $313 | $476 |
Source: Ownwell