Trenton, Tennessee Property Taxes
The median property tax rate in Trenton, TN is 0.79%, slightly lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $69,350 in Trenton, the typical annual property tax bill is $545, which is significantly below the national median of $2,690. Property taxes in Trenton are calculated based on the assessed value, which usually falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Trenton'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 Trenton or another part of Gibson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trenton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$548
Ownwell’s Trenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trenton 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 Trenton, Tennessee
Property taxes in Trenton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trenton is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Trenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trenton 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 Trenton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38382 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Trenton provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trenton Tax Rate
0.79%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38382 | 0.76% | 0.78% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Trenton, Tennessee
In Trenton, 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 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 Trenton, 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 Trenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38382 has both the highest and lowest median tax bill at $545.
Average Trenton Assessed Value
$69,350
Average Gibson County Assessed Value
$77,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38382 | $26,830 | $41,900 | $69,350 | $116,800 | $180,610 |
Source: Ownwell
Property Tax Bills Across Trenton, Tennessee
In Trenton, Tennessee, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Trenton is $69,350. Property taxes in Gibson County are determined by applying the local tax rate to the assessed value of the property. For example, homeowners in the 25th percentile can expect a tax bill of around $330, while those in the 75th percentile may see bills closer to $922. At the higher end, the 90th percentile tax bill can reach up to $1,420. These tax bills impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, the property taxes in Trenton are relatively moderate. This can make homeownership more affordable for residents, though individual tax bills can vary significantly based on property values and specific assessments. Understanding these factors helps homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Trenton Tax Bill
$545
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Trenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38382 | $210 | $330 | $545 | $922 | $1,420 |
Source: Ownwell