Primm Springs, Tennessee Property Taxes
The median property tax rate in Primm Springs, TN is 0.58%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Primm Springs, the typical annual property tax bill reaches $785, significantly below the national median of $2,690. Property taxes in Primm Springs 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 Primm Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Primm Springs or another part of Hickman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Primm Springs, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$855
Ownwell’s Primm Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Primm Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Primm 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 Primm Springs, Tennessee
Property taxes in Primm Springs, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Primm Springs is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Primm Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Primm 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 Primm Springs' effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38476 has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Primm Springs provides valuable insights into the varying tax landscape across Hickman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Primm Springs Tax Rate
0.58%
Average Hickman County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | 0.38% | 0.50% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Primm Springs, Tennessee
In Primm 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 Hickman 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 Primm 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 Primm Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $785, specifically in the 38476 zip code.
Average Primm Springs Assessed Value
$147,500
Average Hickman County Assessed Value
$65,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $25,440 | $54,700 | $147,500 | $264,300 | $447,560 |
Source: Ownwell
Property Tax Bills Across Primm Springs, Tennessee
In Primm Springs, Hickman 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 market value of the property. Homeowners in Primm Springs experience varying tax bills, with the 25th percentile at $295 and the 75th percentile at $1,296, reflecting the range of property values in the area. The highest median tax bill in the region is $785, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions. Homeowners need to be aware of these factors as they can significantly affect their annual tax obligations. Lower property tax rates in Primm Springs can make homeownership more affordable compared to regions with higher tax rates, providing a financial advantage to residents.
Average Primm Springs Tax Bill
$785
Average Hickman County Tax Bill
$379
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $144 | $295 | $785 | $1,296 | $2,227 |
Source: Ownwell