Tennessee Ridge, Tennessee Property Taxes
The median property tax rate in Tennessee Ridge, TN is 0.89%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Tennessee Ridge at $90,800, the typical annual property tax bill amounts to $731, significantly below the national median of $2,690. Property taxes in Tennessee Ridge are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Tennessee Ridge'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 Tennessee Ridge or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tennessee Ridge, 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 Tennessee Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tennessee Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tennessee Ridge 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 Tennessee Ridge, Tennessee
Property taxes in Tennessee Ridge, Tennessee, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tennessee Ridge is 0.89%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Tennessee Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tennessee Ridge 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 Tennessee Ridge's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37178 zip code has the highest median property tax rate of 0.89%, while the 37178 zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Tennessee Ridge provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tennessee Ridge Tax Rate
0.89%
Average Houston County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tennessee Ridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37178 | 0.70% | 0.70% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Tennessee Ridge, Tennessee
In Tennessee Ridge, 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 Houston 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 Tennessee Ridge, 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 Tennessee Ridge 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 $731.00, found in zip code 37178.
Property Tax Assessment Values Across Tennessee Ridge, Tennessee
Source: Ownwell
$69,500
$124,400
$179,300
Average Tennessee Ridge Assessed Value
$90,800
Average Houston County Assessed Value
$92,550
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tennessee Ridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37178 | $32,560 | $58,700 | $90,800 | $133,400 | $193,960 |
Source: Ownwell
Property Tax Bills Across Tennessee Ridge, Tennessee
In Tennessee Ridge, Houston County, 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 Tennessee Ridge is $90,800. Homeowners' tax bills are determined by multiplying the assessed value by the local tax rate. The property tax rate in Tennessee Ridge is 0.99%, matching the national median. For homeowners, this means that a property with a median home price of $90,800 would result in a tax bill around $731 annually. However, tax bills can vary significantly. For instance, the 25th percentile tax bill is $463, while the 75th percentile tax bill reaches $1,080, and the 90th percentile tax bill is as high as $1,516. These variations depend on factors such as property improvements, neighborhood developments, and changes in market conditions. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Tennessee Ridge Tax Bill
$731
Average Houston County Tax Bill
$713
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Tennessee Ridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37178 | $239 | $463 | $731 | $1,080 | $1,516 |
Source: Ownwell