Whitleyville, Tennessee Property Taxes
The median property tax rate in Whitleyville, TN is 0.60%, significantly lower than both the national median of 0.99% and Tennessee’s state median of 0.64%. With the median home value in Whitleyville at $41,300, the typical annual property tax bill is $248, far below the national median of $2,690. Property taxes in Whitleyville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whitleyville'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 Whitleyville or another part of Macon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitleyville, 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 Whitleyville Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate their annual property taxes in Whitleyville using just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Whitleyville to estimate your property tax bill, giving you a clear understanding of potential tax liabilities. This valuable tool is designed to help you navigate your financial planning with confidence. For those interested in more detailed insights, including neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Whitleyville, Tennessee
Property taxes in Whitleyville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitleyville is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Whitleyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitleyville 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. Understanding how Whitleyville's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitleyville Tax Rate
0.60%
Average Macon County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitleyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38588 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Whitleyville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Whitleyville, Tennessee. 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 Macon 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 Whitleyville, 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. For instance, the highest median tax bill in Whitleyville is $248 in the 38588 zip code, while the lowest median tax bill is also $248 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whitleyville Assessed Value
$41,300
Average Macon County Assessed Value
$73,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitleyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38588 | $10,260 | $24,600 | $41,300 | $68,800 | $103,040 |
Source: Ownwell
Property Tax Bills Across Whitleyville, Tennessee
In Whitleyville, located in Macon 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 typically a percentage of the market value of the property. Once the assessed value is established, the tax rate, also known as the millage rate, is applied to calculate the annual tax bill. For homeowners in Whitleyville, the median home price stands at $41,300. The property tax bills can vary significantly, with the 25th percentile tax bill at $146 and the 75th percentile reaching $420. At the 90th percentile, homeowners might see tax bills as high as $628. These figures highlight the variation in property tax burdens within the community. Comparatively, the national median property tax rate is 0.99%, which suggests that Whitleyville's property tax rates are relatively modest. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Whitleyville Tax Bill
$248
Average Macon County Tax Bill
$483
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitleyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38588 | $61 | $146 | $248 | $420 | $628 |
Source: Ownwell