Decaturville, Tennessee Property Taxes
The median property tax rate in Decaturville, TN is 0.59%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Decaturville at $88,300, the typical annual property tax bill reaches $524, well below the national median of $2,690. Property taxes in Decaturville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Decaturville'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 Decaturville 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
Decaturville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$521
Ownwell’s Decaturville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decaturville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decaturville 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 Decaturville, Tennessee
Property taxes in Decaturville, Tennessee, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decaturville is 0.59%, significantly lower than the U.S. national median of 0.99%. Local government entities within Decaturville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decaturville 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 Decaturville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38329 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Decaturville provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decaturville Tax Rate
0.59%
Average Henderson County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decaturville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Decaturville, Tennessee
In Decaturville, 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 Henderson 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 Decaturville, 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 Decaturville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $524.00 in zip code 38329, reflecting a consistent tax environment.
Average Decaturville Assessed Value
$88,300
Average Henderson County Assessed Value
$78,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decaturville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | $20,000 | $34,275 | $88,300 | $143,625 | $256,400 |
Source: Ownwell
Property Tax Bills Across Decaturville, Tennessee
In Decaturville, Henderson County, TN, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors who evaluate the market value of your property and then apply an assessment ratio. Once the assessed value is established, the local tax rate, also known as the millage rate, is applied to calculate the annual property tax bill. Homeowners in Decaturville can expect varying tax bills depending on their property values. For instance, the tax bill at the 25th percentile is $203, while at the 75th percentile, it rises to $851. Those at the 90th percentile see tax bills as high as $1,520. The median home price in Decaturville is $88,300, which is relatively lower compared to national statistics. Consequently, property tax bills tend to be more manageable for homeowners in this area. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Decaturville Tax Bill
$524
Average Henderson County Tax Bill
$514
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Decaturville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | $118 | $203 | $524 | $851 | $1,520 |
Source: Ownwell