Decherd, Tennessee Property Taxes
The median property tax rate in Decherd, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Decherd being $155,600, the typical annual property tax bill amounts to $901, which is well below the national median of $2,690. Property taxes in Decherd 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 Decherd'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 Decherd or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decherd, 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 Decherd Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decherd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decherd 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 Decherd, Tennessee
Property taxes in Decherd, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decherd is 0.47%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Decherd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decherd 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 Decherd's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37324 has the highest median property tax rate of 0.47%, while the lowest median tax rate is also 0.47% in the same zip code. Understanding how these cities compare with Decherd provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decherd Tax Rate
0.47%
Average Franklin County Tax Rate
0.47%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decherd, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37324 | 0.47% | 0.47% | 0.47% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Decherd, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Decherd, Tennessee. The market value represents 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 Franklin County Assessor 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 Decherd, 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 Decherd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, in Decherd, the highest median tax bill is $901.00 in zip code 37324, while the lowest median tax bill is also $901.00 in the same zip code, highlighting the uniformity in property tax assessments within the area.
Average Decherd Assessed Value
$155,600
Average Franklin County Assessed Value
$205,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decherd, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37324 | $62,100 | $100,000 | $155,600 | $243,800 | $353,760 |
Source: Ownwell
Property Tax Bills Across Decherd, Tennessee
In Decherd, property tax bills are primarily determined by the assessed value of a home, which is a percentage of its market value. For instance, if the median home price in Decherd is $155,600, the assessed value would be calculated based on the local assessment ratio. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property improvements, neighborhood developments, and local government budgets. Homeowners in Decherd can expect a wide range of tax bills, from the 25th percentile at $571 to the 90th percentile at $1,798. Comparatively, the median property tax rate in Decherd is lower than the national median of 0.99%, making it relatively affordable for homeowners. Understanding these components helps homeowners anticipate their financial obligations and plan accordingly. The property tax system ensures that each homeowner contributes fairly to the community's needs and services.
Average Decherd Tax Bill
$901
Average Franklin County Tax Bill
$1,112
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Decherd, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37324 | $336 | $571 | $901 | $1,352 | $1,798 |
Source: Ownwell