Lobelville, Tennessee Property Taxes
The median property tax rate in Lobelville, TN is 0.79%, 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 Lobelville being $171,300, the typical annual property tax bill comes to $1,360, significantly below the national median of $2,690. Property taxes in Lobelville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lobelville'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 Lobelville or another part of the city, getting to know the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lobelville, 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 Lobelville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lobelville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lobelville 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 Lobelville, Tennessee
Property taxes in Lobelville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lobelville is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Lobelville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lobelville 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 Lobelville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37097 in Humphreys County has the same median property tax rate of 0.79%. Understanding how these cities compare with Lobelville provides valuable insights into the varying tax landscape across Humphreys County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lobelville Tax Rate
0.79%
Average Humphreys County Tax Rate
0.74%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | 0.62% | 0.63% | 0.79% | 1.03% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Lobelville, Tennessee
In Lobelville, 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 Humphreys 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 Lobelville, 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 Lobelville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 37097, both at $1,360.
Average Lobelville Assessed Value
$171,300
Average Humphreys County Assessed Value
$111,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $82,190 | $82,775 | $171,300 | $375,750 | $585,000 |
Source: Ownwell
Property Tax Bills Across Lobelville, Tennessee
In Lobelville, located in Humphreys County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is a percentage of the property's market value. For instance, with a median home price of $171,300, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors influencing the tax bill include the property's location, size, and any applicable exemptions. In Lobelville, the tax bill ranges significantly: the 25th percentile tax bill is approximately $994, while the 75th percentile reaches around $2,361, and the 90th percentile can be as high as $3,633. These figures highlight the variability in property tax burdens among homeowners. Compared to the national median property tax rate of 0.99%, Lobelville's property tax rates can be considered moderate. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Lobelville Tax Bill
$1,360
Average Humphreys County Tax Bill
$930
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $866 | $994 | $1,360 | $2,361 | $3,633 |
Source: Ownwell