Culleoka, Tennessee Property Taxes
The median property tax rate in Culleoka, TN is 0.50%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $176,200 in Culleoka, the typical annual property tax bill is $894, well below the national median of $2,690. Property taxes in Culleoka are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Culleoka'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 Culleoka or another part of Giles County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Culleoka, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$881
Ownwell’s Culleoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culleoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culleoka 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 Culleoka, Tennessee
Property taxes in Culleoka, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culleoka is 0.50%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Culleoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culleoka 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 Culleoka's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38451 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Culleoka provides valuable insights into the varying tax landscape across Giles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culleoka Tax Rate
0.50%
Average Giles County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culleoka, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38451 | 0.50% | 0.50% | 0.50% | 0.50% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Culleoka, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Culleoka, 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 Giles 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 Culleoka, 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. The median home price in Culleoka is $176,200, with tax bills ranging from $409 at the 25th percentile to $1,544 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Culleoka Assessed Value
$176,200
Average Giles County Assessed Value
$155,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culleoka, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38451 | $47,730 | $64,175 | $176,200 | $214,125 | $292,010 |
Source: Ownwell
Property Tax Bills Across Culleoka, Tennessee
In Culleoka, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Culleoka is $176,200. Local tax authorities determine the assessed value, and then apply the local tax rate to calculate the annual tax bill. For homeowners, this means that various factors, such as property location, improvements, and market trends, can influence the assessed value and, consequently, the tax bill. For instance, in Giles County, where Culleoka is located, the tax bill at the 25th percentile is $409, while at the 75th percentile, it rises to $1066. The 90th percentile tax bill can reach up to $1544. These figures highlight the variability in tax obligations based on property values and assessments. Homeowners in Culleoka can expect their property tax bills to reflect these assessed values, impacting their annual financial planning and overall cost of homeownership.
Average Culleoka Tax Bill
$894
Average Giles County Tax Bill
$838
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Culleoka, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38451 | $235 | $409 | $894 | $1,066 | $1,544 |
Source: Ownwell