Powder Springs, Tennessee Property Taxes
The median property tax rate in Powder Springs, TN is 0.59%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $100,850 in Powder Springs, the typical annual property tax bill comes to $574, significantly below the national median of $2,690. Property taxes in Powder Springs 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 Powder Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Powder Springs or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Powder Springs, 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 Powder Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powder Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powder Springs 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 Powder Springs, Tennessee
Property taxes in Powder Springs, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powder Springs is 0.59%, notably lower than the U.S. national median of 0.99%. Local government entities within Powder Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powder Springs 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 Powder Springs' effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37848 has both the highest and lowest median property tax rate in the area, standing at 0.59%. Understanding how these cities compare with Powder Springs provides valuable insights into the varying tax landscape across Grainger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powder Springs Tax Rate
0.59%
Average Grainger County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powder Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37848 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Powder Springs, Tennessee
In Powder Springs, 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 Grainger 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 Powder Springs, 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 Powder Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in the 37848 zip code, the highest and lowest median tax bills are both recorded at $574, highlighting the uniformity in tax burdens across the area. The median home price in the region is $100,850, with tax bills ranging from $330 at the 25th percentile to $1,030 at the 90th percentile.
Property Tax Assessment Values Across Powder Springs, Tennessee
Source: Ownwell
$87,500
$123,050
$158,600
Average Powder Springs Assessed Value
$100,850
Average Grainger County Assessed Value
$110,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powder Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37848 | $39,170 | $62,575 | $100,850 | $148,800 | $183,650 |
Source: Ownwell
Property Tax Bills Across Powder Springs, Tennessee
In Powder Springs, Grainger County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Various factors such as property size, location, and improvements can influence this assessed value. Homeowners in Powder Springs typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $330, while the 75th percentile reaches $815, and the 90th percentile can be as high as $1,030. Comparatively, the median property tax bill in Grainger County stands at $574, which is significantly lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable and attractive in Powder Springs. However, it's important for homeowners to stay informed about their property's assessed value and any changes in local tax rates, as these factors directly impact their annual tax bills.
Average Powder Springs Tax Bill
$574
Average Grainger County Tax Bill
$597
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Powder Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37848 | $177 | $330 | $574 | $815 | $1,030 |
Source: Ownwell