Finger, Tennessee Property Taxes
The median property tax rate in Finger, TN is 0.39%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value in Finger of $100,200, the typical annual property tax bill amounts to $395, which is well below the national median of $2,690. Property taxes in Finger are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Finger's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Finger or another part of McNairy County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Finger, 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 FINGER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FINGER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FINGER 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 Finger, Tennessee
Property taxes in Finger, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Finger is 0.39%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Finger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Finger 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 Finger's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.71%, while the lowest median tax rate is in Lake County at 0.32%. Understanding how these cities compare with Finger provides valuable insights into the varying tax landscape across McNairy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Finger Tax Rate
0.39%
Average Mcnairy County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Finger, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Finger, Tennessee
In Finger, Tennessee, understanding the difference between "market value" and "assessed value" is essential 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 McNairy 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 Finger, 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. The median home price in Finger is $100,200, with tax bills ranging from $186 at the 25th percentile to $930 at the 90th percentile. The highest and lowest median tax bills are both $395, found in the zip code 38334. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Finger Assessed Value
$100,200
Average Mcnairy County Assessed Value
$107,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Finger, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | $23,640 | $46,950 | $100,200 | $162,600 | $236,320 |
Source: Ownwell
Property Tax Bills Across Finger, Tennessee
In the city of Finger, located in McNairy County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the home's worth in the current real estate market. Homeowners in Finger face a range of property tax bills, from the 25th percentile at $186 to the 75th percentile at $638, and up to the 90th percentile at $930. The median home price in Finger stands at $100,200, which provides a baseline for these calculations. Factors influencing the tax bill include the property's location, size, and condition, as well as any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Finger's rates can be seen as relatively moderate. Understanding these elements helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Finger Tax Bill
$395
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Finger, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | $93 | $186 | $395 | $638 | $930 |
Source: Ownwell