Huntland, Tennessee Property Taxes
The median property tax rate in Huntland, 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 Huntland at $149,800, the typical annual property tax bill is $869, well below the national median of $2,690. Property taxes in Huntland 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 Huntland'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 Huntland 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
Huntland, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$704
Ownwell’s HUNTLAND Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in HUNTLAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUNTLAND to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Huntland, Tennessee
Property taxes in Huntland, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntland is 0.47%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Huntland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntland 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 Huntland's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37345 zip code has the highest median property tax rate of 0.47%, while the 37345 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Huntland 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 Huntland 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 Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | 0.47% | 0.47% | 0.47% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Huntland, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Huntland, 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 Franklin 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 Huntland, 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 Huntland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $869.00, found in the 37345 zip code.
Average Huntland Assessed Value
$149,800
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 Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | $65,260 | $104,750 | $149,800 | $245,100 | $390,220 |
Source: Ownwell
Property Tax Bills Across Huntland, Tennessee
In Huntland, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is set by the county assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property improvements, neighborhood trends, and market conditions can influence the assessed value. Homeowners in Huntland see a range of property tax bills. For instance, the 25th percentile tax bill is $576, while the 75th percentile reaches $1286, and the 90th percentile can go up to $1961. Compared to the national median property tax rate of 0.99%, Huntland's rates are relatively moderate. The highest and lowest median tax bills in the area both stand at $869, indicating a consistent tax burden across different properties. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Huntland Tax Bill
$869
Average Franklin County Tax Bill
$1,112
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37345 | $351 | $576 | $869 | $1,286 | $1,961 |
Source: Ownwell