Rutledge, Tennessee Property Taxes
The median property tax rate in Rutledge, TN is 0.59%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Rutledge at $108,550, the typical annual property tax bill is $578, significantly less than the national median of $2,690. Property taxes in Rutledge are calculated based on the assessed value, which is often below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rutledge’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 Rutledge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rutledge, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$640
Ownwell’s Rutledge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutledge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutledge 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 Rutledge, Tennessee
Property taxes in Rutledge, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rutledge is 0.59%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Rutledge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutledge 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 Rutledge's effective property tax rate to other regions in Tennessee and the national median. For comparison, the zip code 37861 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Rutledge 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 Rutledge 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 Rutledge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37861 | 0.15% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Rutledge, Tennessee
In Rutledge, 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 Rutledge, 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 Rutledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $578.00 in the 37861 zip code, while the lowest median tax bill is also $578.00 in the same zip code.
Average Rutledge Assessed Value
$108,550
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 Rutledge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37861 | $24,900 | $55,700 | $108,550 | $180,000 | $288,650 |
Source: Ownwell
Property Tax Bills Across Rutledge, Tennessee
In Rutledge, Grainger County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $108,550, homeowners can expect varying tax bills, influenced by factors such as property location and specific local tax rates. Homeowners in Rutledge generally see tax bills ranging from $245 at the 25th percentile to $989 at the 75th percentile, with the highest bills reaching up to $1,602 at the 90th percentile. These figures indicate that while some homeowners enjoy relatively low property taxes, others may face higher bills depending on their property's assessed value and location within the county. Compared to the national median property tax rate of 0.99%, the property tax landscape in Rutledge can be considered relatively moderate, providing some financial relief to homeowners in the area.
Average Rutledge Tax Bill
$578
Average Grainger County Tax Bill
$597
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutledge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37861 | $38 | $245 | $578 | $989 | $1,602 |
Source: Ownwell