Ramer, Tennessee Property Taxes
The median property tax rate in Ramer, 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 Ramer of $112,500, the typical annual property tax bill is $444, much less than the national median of $2,690. Property taxes in Ramer are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ramer's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ramer or another part of McNairy County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramer, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$439
Ownwell’s Ramer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramer 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 Ramer, Tennessee
Property taxes in Ramer, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramer is 0.39%, significantly lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Ramer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramer 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 Ramer's effective property tax rate to other counties in Tennessee and the national median. Understanding how these cities compare with Ramer 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 Ramer 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 Ramer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38367 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Ramer, Tennessee
In Ramer, 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 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 Ramer, 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. The median home price in Ramer is $112,500, with tax bills ranging from $266 at the 25th percentile to $955 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these valuation processes in Ramer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ramer Assessed Value
$112,500
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 Ramer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38367 | $34,760 | $67,300 | $112,500 | $167,100 | $241,080 |
Source: Ownwell
Property Tax Bills Across Ramer, Tennessee
In Ramer, located in McNairy County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Ramer is $112,500. Homeowners in this region can expect property tax bills that vary significantly, ranging from the 25th percentile at $266 to the 90th percentile at $955. The median property tax bill stands at $444, which is considerably lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Homeowners should be aware of their property’s assessed value and any potential exemptions to ensure they are not overpaying on their property taxes. Understanding these elements can help homeowners manage their finances more effectively.
Average Ramer Tax Bill
$444
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38367 | $139 | $266 | $444 | $660 | $955 |
Source: Ownwell